Clipped from: https://www.taxscan.in/gift-from-nri-relative-not-taxable-as-income-if-genuineness-is-proved-itat/430885 As gifts received from an NRI relative are not chargeable to tax, the tribunal directed the addition of 20,00,000/- made towards the income
Gift Taxation in India: Section‑wise Guide under Income‑tax Act, 1961 and 2025
Clipped from: https://www.taxscan.in/top-stories/gift-taxation-in-india-sectionwise-guide-under-incometax-act-1961-and-2025-1445687?from-login=628672&token=RDWEBKIK9LKGTK2MG5OQ4UCHPYS2YVJRVZHTA While the 2025 Act renumbers and simplifies the provision, the core taxation principles and exemptions remain unchanged. Gift‑giving in India is culturally very meaningful,
Reopening Invalid Due to Change of Opinion on Same Material: Bombay HC
Clipped from: https://taxguru.in/income-tax/reopening-invalid-due-change-opinion-material-bombay-hc.html?utm_source=follow.it Transchem Limited Vs ACIT-8(3) (Bombay High Court) The petition challenged the validity of a notice issued under Section 148 of the Income Tax
New trend in gold demand [ demand rising along side price increase ]–will likely escalate import bill –skew the trade balance and trigger foreien exchange outflows [2] Household savings invested in gold are stockpiled and locked out of the financial system [3] Further useful information is given in the editorial and also suggested are ways to tackle the issue–from long term perspective – Courtey BL
Continued [1] historically, bulk of India’s gold purchases has been from jewellery buyers looking to meet wedding commitments, or to use as collateral during distress.
RBI mulls sale of foreign bonds by state-owned lenders – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/rbi-mulls-sale-of-foreign-bonds-by-state-owned-lenders/article70942506.ece Plan aims to attract capital inflows amid persistent currency pressure The Reserve Bank of India, grappling to support the beleaguered rupee, is weighing
The employment profile of India’s young adults – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/the-employment-profile-of-indias-young-adults/article70942922.ece With fewer than half of young adults employed, the labour market is increasingly polarised between extreme overwork and underemployment The intensity of young
Editorial. Gold rush – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/gold-rush/article70942804.ece ETF-driven rise in gold demand needs watching Gold demand has gone up despite price surge | Photo Credit: e-crow Bullion, after energy, is
Empty chairs: Government should not delay board appointments at PSBs
Clipped from: https://www.business-standard.com/opinion/editorial/empty-chairs-government-should-not-delay-board-appointments-at-psbs-126050501565_1.html Over the years, the government has made significant intervention in institutionalising the appointment processes. But of late, action seems to have lagged Image:
Bombay HC quashes Lilavati Trust bribery case against HDFC Bank CEO | Company News – Business Standard
Clipped from: https://www.business-standard.com/companies/news/bombay-hc-quashes-lilavati-trust-bribery-case-against-hdfc-bank-ceo-126050501010_1.html The court, while quashing the FIR, said continuance of the same would be nothing but an “abuse of the process of court” and
MSMEs, airlines get ₹2.55 trillion credit lifeline amid West Asia crisis | Top News – Business Standard
lipped from: https://www.business-standard.com/industry/aviation/cabinet-announces-18-100-crore-credit-guarantee-scheme-for-msmes-airlines-126050501435_1.html Cabinet approves ECLGS 5.0 with an outlay of ₹18,000 crore The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the
How new online gaming rules will change your income tax and legal exposure depending on the kind of game you play – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-new-online-gaming-rules-will-change-your-income-tax-and-legal-exposure-depending-on-the-kind-of-game-you-play/articleshow/130708954.cms If you have ever opened a gaming app for “just a quick game” and ended up spending far more time than you planned,
Can I claim LTCG exemption in same year if I buy a property before selling existing one? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/can-i-claim-ltcg-exemption-in-same-year-if-i-buy-a-property-before-selling-existing-one/articleshow/130826117.cms Listen to this article in summarized format These are a set of queries raised by ET Wealth readers, which have been answered by
Old and New Regime–Comparision rendered easy by ET via the chart below
Benefits Old Tax Regime New Tax Regime Value of free food voucher INR 200 per meal INR 200 per meal A specific carve-out allowed tax exemption
*Reassessment notice invalid for short response time, limitation breach, and unsustainable addition on joint property ownership.
Section 148A(b) requires at least seven days to respond; a notice granting only five days was held contrary to statute, and the assessee’s later extension
*Demonetization Cash Deposits – Source cannot be considered as unexplained u/s 69 even when deposit is in Violation of RBI guidelines [Sec 69 of ITA’61 – Sec 103 of ITA’25]
Summary: Cash deposits of demonetized notes are not unexplained investment merely because they were accepted or deposited in violation of RBI guidelines. For invoking section 69,
Labour laws: Exiting outdated ILO conventions won’t make India anti-worker
lipped from: https://www.business-standard.com/opinion/columns/labour-laws-exiting-outdated-ilo-conventions-won-t-make-india-anti-worker-126050401772_1.html India is a founding member of the ILO and has been a permanent member of its Governing Body since 1922. Over time, we
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