Tata Steel has taken legal action against the Income Tax Department’s reassessment of its taxable income for FY 2018-19 (AY 2019-20). The dispute arises from a ₹25,185.51 crore debt waiver linked to its acquisition of Bhushan Steel (now Tata Steel BSL Limited) through its subsidiary Bamnipal Steel Limited under the Insolvency and Bankruptcy Code (IBC). […]
Swiggy faces ₹158 crore tax demand, plans to challenge order – CNBC TV18
Online food delivery giant, Swiggy Ltd. has received an income tax order demanding ₹158.25 crore for the assessment year 2021-22. The order, issued by the Deputy Commissioner of Income-tax, Central Circle – 1(1), Bangalore, alleges discrepancies related to cancellation charges paid to merchants and interest income on tax refunds. Swiggy, in its regulatory filing with the […]
Dabur India faces ₹110.33 crore income tax demand, plans appeal – CNBC TV18
Dabur India Ltd. has disclosed that it received an income tax re-assessment order demanding ₹110.33 crore for the financial year 2017-18. The company maintains that part of the demand is due to an inadvertent error, as income already included in the original assessment for assessment year (AY) 2018-19 has been factored in again. Furthermore, ₹36.77 […]
Guide to all financial changes from April 2025: Credit cards, income tax, mutual funds and more – CNBC TV18
As the new financial year 2025-26 is just a few days away, multiple regulatory changes will take effect across mutual funds, credit cards, UPI transactions, taxation, and GST. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: Large Cap 0.12% Axis […]
March 31 nears: Here’s your guide to all income tax deadlines – CNBC TV18
As the financial year 2024-25 nears its end, taxpayers must act to meet key tax-related deadlines. Missing these could lead to penalties, interest charges, or loss of tax benefits. Here’s a quick rundown of the deadlines expiring by March 31, 2025: By Anshul March 26, 2025, 4:11:23 PM IST (Published) 1 / 5 Filing updated […]
Updated ITR filing deadline is March 31: How to avoid 50% extra tax – CNBC TV18
Taxpayers must file their updated Income Tax Return (ITR-U) for FY 2022-23 (AY 2023-24) before March 31, 2025, to avoid higher penalties and additional tax burdens. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: Large Cap 0.12% Axis Nifty 100 […]
New income tax bill likely for discussion in monsoon session: FM Nirmala Sitharaman – CNBC TV18
Finance Minister Nirmala Sitharaman on Tuesday (March 25) said the government hopes to discuss the new IT Bill in the Monsoon Session after it is reviewed by a panel. She emphasised the need to include digital elements in the law. On tax reforms, Sitharaman said that salaried taxpayers with an annual income above ₹12 lakh […]
What is an updated Income Tax Return and how to file it – CNBC TV18
The Income Tax Department has provided a new form (ITR-U) to file updated IT returns. Taxpayers can use it to file updated Income Tax Returns for financial years 2019-20 and 2020-21. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: Large […]
Govt collects ₹9,118 crore from over 90 lakh updated ITRs in four years – CNBC TV18
Over 90 lakh updated Income Tax Returns (ITRs) have been filed over the last four years which fetched ₹9,118 crore to the exchequer, Parliament was informed on Monday (March 25). Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: Large Cap […]
FM Nirmala Sitharaman to move Finance Bill in Lok Sabha today – CNBC TV18
Finance Minister Nirmala Sitharaman will present the Finance Bill in the Lok Sabha on Monday (March 24) for discussion and approval. The bill aims to implement the government’s proposals for the financial year 2025-26. The Finance Bill is a crucial part of the Union Budget. It includes tax proposals and other financial measures announced by […]