Taxman

The taxman wants to know if Indians are wearing an FPI mask

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The taxman wants to know if Indians are wearing an FPI mask

Mumbai: The taxman is snooping around for Indians behind foreign institutional investors (FPIs). In a slew of unusual and probing questions, tax authorities have asked several offshore funds to spell out how they go about raising money, share of Indian investments in the fund pools, and details of top investors in a fund. At least … Read more

Taxman challenges HC order quashing reassessment notices

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Taxman challenges HC order quashing reassessment notices

The Income-Tax department has moved the Supreme Court challenging an order by the Allahabad High Court quashing income tax notices issued after March 31, 2021, under the old re-assessment regime. This is a setback for multiple taxpayers who had got favourable orders from various high courts on reassessment proceedings initiated by the tax authorities. In … Read more