CESTAT Chennai held that penalties cannot be imposed when there is no evidence that the CHA manager knowingly aided mis-declaration or ineligible drawback ...

A lot of individual taxpayers, mainly salaried individuals, who chose the old tax regime while filing their Income Tax Return (ITR) for the Assessment Year 2025-26, have been receiving intimations ...

Several GST practitioner and tax professional associations across the country have urged tax authorities to extend the filing ...

The Internal Revenue Service announced tax relief for individuals and businesses in Washington state affected by severe storms, straight-line winds, flooding, landslides and mudslides that began Dec.

The Internal Revenue Service has opened a 90-day public comment period, ending March 22, for proposed updates to its Voluntary Disclosure Practice, including a more streamlined penalty framework.

Taxpayers can rectify errors in income tax returns by filing revised returns ahead of the deadline. The Income Tax Department ...

Let's break down complex tax provisions into actionable insights around enhanced childcare and family leave credits, ...

Learn how to use IRS Form 4562 to claim depreciation and amortization deductions for business property. Understand the criteria, asset types, and filing process.

Discover how IRS Publication 557 can guide your organization to secure and maintain tax-exempt status, ensuring compliance with essential IRS regulations.

Learn about IRS Publication 535, crucial for business owners to understand deductible expenses to reduce taxable income.

The longest government shutdown in U.S. history is now over. The backlog of work, however, remains. As the IRS scrambles to get back to business as usual, taxpayers should expect delays. The ...