https://www.financialexpress.com/money/flat-sold-10-days-after-registration-itat-ruling-offers-key-ltcg-tax-lesson-for-homebuyers-4363183 Property buyers in India can get tax relief by keeping in mind an important consideration: the Income Tax Act allows calculating the holding periods
NRI capital gains tax: When can you use the basic exemption limit to lower your income tax bill?
Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-capital-gains-tax-when-can-you-use-the-basic-exemption-limit-to-lower-your-income-tax-bill/articleshow/134989302.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Indian residents and resident Hindu Undivided Families (HUFs) can apply their unused basic exemption limit to certain capital gains that are taxed
*******US stocks vanish from broker account: How this salaried investor fixed his ITR
https://www.financialexpress.com/money/us-stocks-vanish-from-broker-account-how-this-salaried-investor-fixed-his-itr-4363009 Filing an income tax return for foreign assets is complex enough when all broker statements are readily available. But what happens when an investor
*******Rs 3.99 lakh penalty for under-reporting income and paying Rs 2 lakh less in income tax; ITAT Jaipur cancels penalty, know why
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-3-99-lakh-penalty-for-under-reporting-income-and-paying-rs-2-lakh-less-in-income-tax-itat-jaipur-cancels-penalty-know-why/articleshow/134985612.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/rs-3-99-lakh-penalty-for-under-reporting-income-and-paying-rs-2-lakh-less-in-income-tax-itat-jaipur-cancels-penalty-know-why/articleshow/134985612.cms When Mr Sharma from Sikar, near Jaipur, did not file any income tax return, the Income Tax Department sent him a
Tax audit deadline: How the Income Tax Department is using data to flag delayed filings?
https://www.financialexpress.com/money/tax-audit-deadline-how-the-income-tax-department-is-using-data-to-flag-delayed-filings-4362227 The Income Tax Department, via SMS messages and emails, has asked 12,000 tax professionals to file pending audit reports for AY 2026-27 before the
Travel insurance mandatory for all railway passengers including offline tickets bought at rail counters from this date, Supreme Court order; Know how this helps
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/travel-insurance-mandatory-for-all-railway-passengers-including-offline-tickets-bought-at-rail-counters-from-this-date-supreme-court-order-know-how-this-helps/articleshow/134943462.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Synopsis The Supreme Court of India has ruled that all train tickets must include mandatory travel insurance starting October 27, 2026. This
*******₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here’s why taxpayer wins at ITAT Delhi
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/1-70-crore-undisclosed-cash-alleged-in-property-sale-income-tax-dept-relies-on-whatsapp-chats-and-excel-sheets-heres-why-taxpayer-wins-at-itat-delhi/articleshow/134957932.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Can WhatsApp chats, spreadsheets and handwritten notes prove that a taxpayer received undisclosed cash from a property sale? It depends on whether
*****Man earns Rs 75 lakh by redeveloping property inherited from mother, pays no income tax, receives notice, wins case in ITAT Delhi
Read more at:https://economictimes.indiatimes.com/wealth/tax/man-earns-rs-75-lakh-by-redeveloping-property-inherited-from-mother-pays-no-income-tax-receives-notice-wins-case-in-itat-delhi/articleshow/134933428.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/man-earns-rs-75-lakh-by-redeveloping-property-inherited-from-mother-pays-no-income-tax-receives-notice-wins-case-in-itat-delhi/articleshow/134933428.cms Mr Jain from Vasant Vihar, Delhi, had inherited his late mother’s 400 square yards of leasehold land in 1997. Being her
*****Homeowner sold redeveloped flat for Rs 1.95 crore, paid no income tax, received a tax notice; wins relief in ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/tax/homeowner-sold-redeveloped-flat-for-rs-1-95-crore-paid-no-income-tax-received-a-tax-notice-wins-relief-in-itat-mumbai/articleshow/134962377.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mr Furia and his wife lived in a 510 square feet flat in a housing society in Chunabhatti, Sion, Mumbai, which he
NRI Earned Salary in South Korea, Money Credited to Indian NRE Account: ITAT Says No Tax Addition Merely for Missing TRC, Foreign Return https://www.taxscan.in/income-tax/nri-earned-salary-in-south-korea-money-credited-to-indian-nre-account-itat-says-no-tax-addition-merely-for-missing-trc-foreign-return-read-order
Foreign salary of a non-resident cannot be treated as taxable in India merely because foreign tax returns, TRC or proof of tax payment abroad were
Property Bought in Wife’s Name, Funds Came From Husband: ITAT deletes Rs. 17 Lakh Unexplained Investment Addition https://www.taxscan.in/income-tax/property-bought-in-wifes-name-funds-came-from-husband-itat-deletes-rs-17-lakh-unexplained-investment-addition-read-order
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) deleted Rs. 17 lakh unexplained investment addition arising from a property purchase in the wife’s
