Category: Five Star
*****Not prepared for ITR filing: Should you file your ITR now with available information or wait and file a belated ITR?
Read more at:https://economictimes.indiatimes.com/wealth/tax/not-prepared-for-itr-filing-should-you-file-your-itr-now-with-available-information-or-wait-and-file-a-belated-itr/articleshow/132757221.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst July 31, 2026 is the due date to file income tax return (ITR) by salaried individuals, pensioners, students and other taxpayers who are not
*****How a ‘kill switch’ can put a stop to digital arrest scams – Banking & Finance News | The Financial Express
Clipped from: https://www.financialexpress.com/business/banking-finance/explainernbsphow-a-kill-switch-can-put-a-stop-to-digital-arrest-scams/4117547/ The Indian government is exploring a mandatory “Kill Switch” for banking and UPI apps to stop real-time financial fraud, including “digital arrests. Government
*****Capital gain attributed to the co-owner who paid for house – Money News | The Financial Express
https://www.financialexpress.com/money/your-income-tax-queries-capital-gain-attributed-to-the-co-owner-who-paid-for-house-4117487/ Clipped from: https://www.financialexpress.com/money/your-income-tax-queries-capital-gain-attributed-to-the-co-owner-who-paid-for-house-4117487/ Understand the tax implications of selling joint property when ownership shares aren’t defined, and explore the concessional 10% tax rate for patent
*****Why digital-arrest fraud is rising in India – The HinduBusinessLine
lipped from: https://www.thehindubusinessline.com/opinion/why-digital-arrest-fraud-is-rising-in-india/article70530555.ece Fraudsters are increasingly exploiting gaps in governance, banking infrastructure and citizens’ blind fear of authority India’s rapid digital expansion has not been accompanied
*****Capital gains tax – Selling assets in 2026? How to keep more of your gains and less for the taxman – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/selling-assets-in-2026-how-to-keep-more-of-your-gains-and-less-for-the-taxman-capital-gains-tax-511277-2026-01-16 Capital gains arise when the selling price of an asset exceeds its acquisition cost after adjusting for transfer expenses. While such gains are
*****Tax story – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/tax-story/article70508776.ece India’s tax base is expanding, but remains skewed For a long time, policymakers have agonised over India’s narrow tax base and tax collections
*****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
*****Gifting of MF units to minors will not lower tax liability – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/your-income-tax-queries-gifting-of-mf-units-to-minors-will-not-lower-tax-liability-4102474/ Expert advice on navigating complex tax scenarios in 2026: Learn how to set off non-speculative business losses from derivatives against equity gains, the
*****Tax experts seek clarity on employment deductions available to biz | Budget 2026 News – Business Standard
Clipped from: https://www.business-standard.com/budget/news/budget-tax-experts-seek-clarity-on-additional-employee-cost-deduction-126010901167_1.html Ahead of Budget FY27, tax experts seek clarity on Section 80JJAA as ambiguities over employee cost deductions trigger scrutiny and risk disputes for
*****RBI should hold rates as growth is strong, inflation remains low: PwC | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/rbi-should-hold-rates-as-growth-is-strong-inflation-remains-low-pwc-126010900612_1.html The Reserve Bank is unlikely to cut key policy rate in the next Monetary Policy Committee (MPC) meeting next month, said PwC Partner
*****Post DPDP, information collected by banks needs revisit: RBI official | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/post-dpdp-information-collected-by-banks-needs-revisit-rbi-official-126010901200_1.html Banks must reassess the amount of customer data they collect under the DPDP Rules, while continuing to innovate responsibly with AI, an RBI
*****Employer deducted TDS but didn’t deposit it: ITAT Kolkata saves employee from Rs 14 lakh tax demand – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/employer-deducted-tds-but-didnt-deposit-it-itat-kolkata-saves-employee-from-rs-14-lakh-tax-demand/articleshow/125883350.cms On November 24, 2025, the Income Tax Appellate Tribunal (ITAT) in Kolkata provided relief to an employee who received a tax demand notice because his employer deducted
*****Man sells Delhi property, shifts to Australia; tax dept adds Rs 40 lakh as unexplained cash credit, but he wins in ITAT Delhi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/man-sells-delhi-property-shifts-to-australia-tax-dept-adds-rs-40-lakh-as-unexplained-cash-credit-but-he-wins-in-itat-delhi/articleshow/125710590.cms Income Tax Appellate Tribunal (ITAT), Delhi, ruled that taxpayers can claim Section 54 capital gains tax exemption on the sale of an Indian residential property
Section 29A and the cost of treating business failure as misconduct
Clipped from: https://www.business-standard.com/opinion/columns/section-29a-and-the-cost-of-treating-business-failure-as-misconduct-126010701269_1.html The IBC must not conflate business failure with malfeasance, or an unfortunate entrepreneur with a fraudulent one Section 29A once saved India’s insolvency
*****Capital Gains Must Reflect Only Real Consideration Received: ITAT quashes S.263 Revision [Read Order]
Clipped from: https://www.taxscan.in/top-stories/capital-gains-must-reflect-only-real-consideration-received-itat-quashes-s263-revision-1437578?TRN300=cVBgJPCDSauMbeDAxEDMcKWwasZUGDMbEuaxEuPXgjgMEuFsiMcBjYDnkMcAsh&LKD333=3324504 Section 48 mandates computation of capital gains only on the “full value of consideration received or accruing to the assessee The principle that