Conclusion: Penalty under section 271(1)(c) was not leviable as assessee had voluntarily disclosed a bona fide error in their ...

The income tax department on Thursday said taxpayers will not be allowed to claim deduction for expenditures incurred to ...

The Income Tax Department has released some frequently asked questions (FAQs) on which are the list of specified goods on ...

Letting the tax cuts expire would result in the single most significant tax increase by dollar amount in history, an ...

Luxury goods over Rs 10 lakh, including handbags, wrist watches, and sportswear, will now face a 1% Tax Collected at Source ...

Learn about the newly launched e-Pay tax feature that allows you to pay taxes online without logging in. Get to know more ...

Amid reports the IRS may end its free Direct File program, more than 170 lawmakers are demanding it remains open.

President Donald Trump says "there's a real chance" tariff revenue can replace the income tax. Economists say a full ...

For most Americans, the staffing cuts will not affect the way the IRS audits their tax returns. The wealthy won't see their ...

After another leadership shakeup at the IRS, Michael Faulkender on Friday became the fifth leader of the IRS since January.

Treasury Secretary Scott Bessent complained to President Trump that the acting commissioner had been installed without his ...

Sabotaging the agency’s work amounts to an inducement for the ultra-rich to treat taxes as a voluntary contribution.