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New Delhi2 hours ago copy link The Bombay High Court has ordered the Income Tax (IT) Department not to take any punitive action against Reliance Group Chairman Anil Ambani under the Black Money Act. The IT department has accused Ambani of tax evasion of Rs 420 crore on undisclosed funds of more than Rs 814…
New Delhi30 minutes ago copy link The Bombay High Court has ordered the Income Tax (IT) Department not to take any punitive action against Reliance Group Chairman Anil Ambani under the Black Money Act. The IT department has accused Ambani of tax evasion of Rs 420 crore on undisclosed funds of more than Rs 814…
Last Updated:November 27, 2025, 3:58 PM IST The income tax department will send SMS and email advisories asking some taxpayers to voluntarily review their foreign assets and revise their ITRs by December 31, 2025. The CBDT stressed that transparent disclosure of foreign assets is mandatory, and non-reporting can attract severe penal action. Taxpayers who may…
As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax clearance certificate. (Representative image) The Budget 2024 proposed to include a reference of the Black Money Act, 2015 to obtain a tax clearance certificate. The Central Board of Direct Taxes (CBDT) has clarified Section 230 of the…