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What To Do When You Receive An Income Tax Notice? What Are The Potential Penalties?

Homebuyers get respite from tax notice against deducting less tax from sellers with inoperative PANs

Over the past year, close to 16,500 homebuyers across the country received a rude shock in the form of notices asking them to cough up additional tax deducted at source on properties they had purchased. The tax department notices said they had deducted less tax despite the sellers’ PANs being inoperative.

IT Dept opens portal to file returns for 2025, verification mechanism reworded

Disallowance Of Claim U/s 80P By CPC Prior To Apr 01, 2021 Is Beyond Its Jurisdiction: Kolkata ITAT

On finding that the alleged disallowance by CPC is beyond its jurisdiction as the adjustment towards deduction u/s. 80P of the Income Tax Act came to CPC only from Apr 01, 2021, the Kolkata ITAT.

Stock Market Live Updates - The Hindu BusinessLine