ITR
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BreakingITAT Rules on Ancestral Jewellery: Woman's ₹67.4 Lakh Declaration Accepted After Tax Additions
The Income Tax Appellate Tribunal (ITAT) has provided significant clarity regarding the declaration of ancestral jewellery in Income Tax Returns (ITR). This ruling came in a case where a woman had declared ancestral jewellery worth ₹67.4 lakh, which initially led to additions by the tax department before the matter reached the ITAT for resolution.
BreakingDefective ITR Notice for AY 2026-27: What to Do and Deadlines
Taxpayers may receive a defective Income Tax Return (ITR) notice under Section 139(9) if their filing for Assessment Year (AY) 2026-27 contains errors. Understanding the response deadline and consequences of ignoring such a notice is crucial to avoid further complications.
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