Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/how-can-i-ensure-my-wife-inherits-our-ancestral-properties-without-claims-from-my-children/articleshow/126372717.cms Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us
Month: January 2026
*******ITR-U cannot be filed if proceedings are initiated against a taxpayer, even when it is unrelated to the income to be disclosed in ITR-U, why Budget 2026 must fix this – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-u-cannot-be-filed-if-proceedings-are-initiated-against-a-taxpayer-even-when-it-is-unrelated-to-the-income-to-be-disclosed-in-itr-u-why-budget-2026-must-fix-this/articleshow/126477048.cms The most significant limitation arises once assessment, reassessment or revision proceedings are initiated or concluded for the relevant assessment year—irrespective of whether the
Income Tax Act 2025: 5 things that will change for taxpayers when new laws replace old rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-act-2025-5-things-that-will-change-for-taxpayers-when-new-laws-replace-old-rules/articleshow/126477339.cms As the Financial Year 2026-27 begins from April 1, 2026, New Income Tax Act, 2025 will come into effect in India. With an aim
*Accountant Illness & Business Closure Not Valid Grounds to Extend GST Limitation
Clipped from: https://taxguru.in/goods-and-service-tax/accountant-illness-business-closure-valid-grounds-extend-gst-limitation.html Tapi Ready Plast Vs State of Gujarat & Ors (Gujarat High Court) The writ petition challenged the rejection of a statutory GST appeal
*Renewing motor policy: When less can be more – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/renewing-motor-policy-when-less-can-be-more/article70497395.ece Logically, the renewal premium should be lower since the sum insured reduces each year, yet it remains unchanged, or is even higher and
*’India is not so dependent on US, has alternatives’: Ex RBI MPC member plays down trade deal risks – BusinessToday
Clipped from: https://www.businesstoday.in/latest/economy/story/india-is-not-so-dependent-on-us-has-alternatives-ex-rbi-mpc-member-plays-down-trade-deal-risks-510328-2026-01-11 ‘Today, emerging markets account for more than 50% of world growth, and the US will find that people will develop alternatives if they
*Your Rs 12 lakh annual income isn’t fully tax-free if it includes this component – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/budget-2026-your-rs-12-lakh-annual-income-isnt-fully-tax-free-if-it-includes-this-component-4103704/ The Union Budget 2025 brought massive relief to middle-class taxpayers by making annual income up to Rs 12 lakh tax-free under the new
*******India’s proposed smartphone security rules that are worrying tech firms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/electronics/indias-proposed-phone-security-rules-that-are-worrying-tech-firms-apple-google-samsung-xiaomi/articleshow/126463346.cms Synopsis India is proposing new security rules for smartphone makers. These rules include source code disclosure and background permission restrictions for apps. Companies
*******India proposes forcing smartphone makers to give source code in security overhaul – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/electronics/india-proposes-forcing-smartphone-makers-to-give-source-code-in-security-overhaul-apple-samsung/articleshow/126463149.cms Synopsis India is proposing new security rules for smartphones. These include sharing source code and making software changes. Tech companies like Apple and
*******Fearing de-dollarisation: On the U.S., oil and the petrodollar – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/fearing-de-dollarisation-on-the-us-oil-and-the-petrodollar/article70491351.ece U.S.’s moves on oil reflect its uneasiness over global trade and finance Updated – January 10, 2026 10:05 am IST President Donald Trump’s urgency
*97% of bank deposit accounts insured – Banking & Finance News | The Financial Express
Clipped from: https://www.financialexpress.com/business/banking-finance/97-of-bank-deposit-accounts-insured/4102335/ New RBI data reveals that 42.1% of the total value of bank deposits in India was insured as of September 2025, a slight
*Section 68 Addition Deleted After Loan Genuineness Proven
Clipped from: https://taxguru.in/income-tax/section-68-addition-deleted-loan-genuineness-proven.html ITO Vs Mohanbhai Laljibhai Rami (ITAT Ahmedabad) Unsecured Loan Explained Through Evidence; Section 68 Addition Deleted and Revenue Appeal Dismissed: ITAT Ahmedabad Summary:
*****ITAT Condones 3,100 Days Delay, Appeal Sent Back
Clipped from: https://taxguru.in/income-tax/itat-condones-3100-days-delay-appeal.html Unnatiben Suhitbhai Gajjar Vs ITO (ITAT Ahmedabad) Extraordinary Delay of Over 3,100 Days Condoned with Costs; Matter Remanded for Adjudication: ITAT Ahmedabad The
*******Reopening Quashed for Non-Supply of Material Relied Upon in Reasons
Clipped from: https://taxguru.in/income-tax/reopening-quashed-non-supply-material-relied-reasons.html Ajay Kumar Bajaj Vs ITO (ITAT Raipur) Reopening Quashed for Non-Supply of Material Relied Upon in Reasons: ITAT Raipur Summary: The Raipur Bench (SMC)
*******Understanding Shift in Surcharge, Rebate, and Marginal Relief Provisions under New Income Tax [Old vs. New Income Tax Act Series – Article 5]
Clipped from: https://www.taxscan.in/top-stories/understanding-shift-in-surcharge-rebate-and-marginal-relief-provisions-under-new-income-tax-old-vs-new-income-tax-act-series-article-5-1440718?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332348 The Income-tax Act, 2025, which was signed into legislation by the president on August 21, 2025, is an entirely new version of the
*******Assessments and Time Limits under Income Tax Act [New v/s Old Tax Act Series]
Clipped from: https://www.taxscan.in/top-stories/assessments-and-time-limits-under-income-tax-act-new-vs-old-tax-act-series-1441036?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332356 This article analyzes the various types of assessments and deadlines for issuing income tax notices, and compares significant changes under the new Income
*******Digital Privacy Issues under Income Tax Act, 2025: Search Powers Explained
Clipped from: https://www.taxscan.in/top-stories/digital-privacy-issues-under-income-tax-act-2025-search-powers-explained-1440688?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332353 Where a taxpayer persistently fails to disclose income or assets despite statutory opportunities, the Income Tax Department may, as a measure of last
*******Deductions Under Income Tax: Computation Methods, Regime Comparison, and Procedural Changes in New Income Tax Act [Old vs New Income Tax]
Clipped from: https://www.taxscan.in/top-stories/deductions-under-income-tax-computation-methods-regime-comparison-and-procedural-changes-in-new-income-tax-act-old-vs-new-income-tax-1440555?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332370 This Article compares deduction computation and total income calculation under the Old Income Tax Act, 1961 and the New Income Tax Act, 2025,
*******Special Allowances – Exemptions and Taxability Under Income Tax Act [Old vs New Tax Act Series]
lipped from: https://www.taxscan.in/top-stories/special-allowances-exemptions-and-taxability-under-income-tax-act-old-vs-new-tax-act-series-1440918?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332373 Special allowances constitute a large portion of your salary package and understanding how to maximize these allowances for tax purposes, as well as
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