Clipped from: https://economictimes.indiatimes.com/wealth/tax/property-and-assets-gifted-to-sons-wife-will-the-income-from-it-be-clubbed-to-your-income-for-tax-purposes/articleshow/123878630.cms Clubbing of income refers to a situation when you get taxed on someone else’s income. For example, a wife’s income gets combined with her husband’s
Category: Income Tax
*New tax regime isn’t zero deduction: here are 10 ways to legally cut your tax bill – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-tax-regime-isnt-zero-deduction-here-are-10-ways-to-legally-cut-your-tax-bill-493927-2025-09-14 Equity investors should take note: long-term capital gains (LTCG) on shares and equity mutual funds are taxed at 12.5% for gains exceeding ₹1.25
*ITR deadline extension not coming? What late filers could lose this year – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-extension-not-coming-what-late-filers-could-lose-this-year-493913-2025-09-14 One major hit that often goes unnoticed is the loss of carry-forward benefits. If you’ve suffered business or capital losses in FY25 and
*******₹60,000 gone? CA breaks down what’s changing in housing under new tax regime – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/rs60000-gone-ca-breaks-down-whats-changing-in-housing-under-new-tax-regime-493912-2025-09-14 For taxpayers with two or more houses, any additional property is considered “deemed to be let out” — and is taxed based on
*******Even if you made zero capital gains income from sale of property you still need to pay tax in this situation; CA explains why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/even-if-you-made-zero-capital-gains-income-from-sale-of-property-you-still-need-to-pay-tax-in-this-situation-ca-explains-why/articleshow/123871304.cms Pay income tax even if you made no effective capital gains on such a sale; Know why Sujit Bangar, a former IRS officer
Last three days left for ITR filing; Step-by-step guide on how to file ITR 1, 2 for free on e-filing ITR portal – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/last-three-days-left-for-itr-filing-step-by-step-guide-on-how-to-file-itr-1-2-for-free-on-e-filing-itr-portal/articleshow/123869252.cms Last few days left for ITR filing; Step-by-step on how to file ITR 1, 2 for free on the e-filing ITR portal The
*******Capital gains: Latest LTCG and STCG rates and holding periods for various assets for AY 2025-26 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gains-latest-ltcg-and-stcg-rates-and-holding-periods-for-various-assets-for-ay-2025-26/articleshow/123827541.cms Latest tax rate and holding period for various assets for LTCG and STCG for AY 2025-26 The capital gains income taxation has seen
*******He got Rs 89 lakh as gift from relatives; Tax dept doubted its genuineness, but ITAT Mumbai ruled in his favour: Here’s why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/he-got-rs-89-lakh-as-gift-from-relatives-tax-dept-doubted-its-genuineness-but-itat-mumbai-ruled-in-his-favour-heres-why/articleshow/123845428.cms When Mr. Manwani filed his income tax return (ITR) for AY 2018-19 by declaring an income of Rs 98 lakh, he was issued a tax notice. The
*Wife pays no income tax after selling two houses for Rs 6 crore gifted by her husband, wins case in ITAT Mumbai; here’s how it happened – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/wife-pays-no-income-tax-after-selling-2-houses-for-rs-6-crore-gifted-by-her-husband-wins-case-in-itat-mumbai-heres-how-it-happened/articleshow/122905982.cms No income tax for wife who sold two flats for Rs 6 crore (5.98) bought originally by husband for Rs 51 lakh total,
*******Senior citizen investor asks: How do I maximise pension and FD income without paying extra tax? – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-rules-senior-super-senior-citizens-ay-2025-26-deductions-exemptions-filing-493884-2025-09-13 For Assessment Year (AY) 2025-26, income tax regulations provide specific reliefs and benefits for senior citizens (aged 60–79 years) and super senior citizens
*******Income Tax law for senior citizens and super senior citizens: What’s new for AY 2025-26 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-law-for-senior-citizens-and-super-senior-citizens-whats-new-for-ay-2025-26/articleshow/123851488.cms Important aspects of Income Tax law that senior citizens and super senior citizens should know for AY 2025-26 A few months ago, the Income
*******Seven situations when gifts received by an individual are free from income tax – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/seven-situations-when-gifts-received-by-an-individual-are-free-from-income-tax/articleshow/123866052.cms 7 situations when monetary gifts received by an individual do not get taxed The Income Tax Department has recently released an updated brochure explaining the
Income Tax Return Filing Due Date 2025-26: Last-Minute ITR Guide, Documents Required to File ITR, Penalty for Late Filing
Clipped from: https://indianexpress.com/article/personal-finance/itr-filing-fy-2024-25-due-date-guide-documents-penalty-late-filing-10245431/ Income Tax Return (ITR) Filing Due Date: The extended due date for filing Income Tax Returns for FY 2024-25 is approaching. Ensure timely
*Wrongly Filed Updated Return Due to Consultant’s Error Cannot Justify Extra Tax
Clipped from: https://taxguru.in/income-tax/wrongly-filed-updated-return-due-consultants-error-justify-extra-tax.html Nararshabh Sharma Vs Assessing Officer (ITAT Pune) ITAT Pune: Wrongly Filed Return Due to Consultant’s Error – Matter Restored for Correct Assessment – Tribunal
*Regrouping of liabilities: ITAT Hyderabad deleted ₹7 crore Section 69 addition
Clipped from: https://taxguru.in/income-tax/regrouping-liabilities-itat-hyderabad-deleted-rs-7-crore-section-69-addition.html ACIT Vs Net Net Ventures Pvt. Ltd (ITAT Hyderabad) ITAT Hyderabad Partly Allows Revenue Appeal – Repayment to Net Net Web Treated as
*******You sold stocks or gold or property?: A CA explains how to pay zero tax under this housing rule – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/you-sold-stocks-or-gold-or-property-a-ca-explains-how-to-pay-zero-tax-under-this-housing-rule-493766-2025-09-12 To qualify, the asset sold must not be a residential house—meaning gains from equity shares, mutual funds (excluding debt-oriented ones), gold, or commercial
*******Capital gains tax changes: stock market taxation gets complex, what investors, traders should know – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/capital-gains-tax-changes-stock-market-taxation-gets-complex-what-investors-traders-should-know-493779-2025-09-12 Since July 23, 2024, the government has tightened capital gains taxation, impacting both casual investors and active traders. Short-term capital gains (STCG) from
*******ITR deadline Sept 15: Taxpayers grapple with tech glitches; I T dept advises this for smooth filing – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-sept-15-taxpayers-grapple-with-tech-glitches-i-t-dept-advises-this-for-smooth-filing-493812-2025-09-12 With just days left before the September 15 ITR filing deadline, taxpayers are facing portal glitches and delays due to the late release
*Online ITR filing charges across popular websites for AY 2025-26 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/online-itr-filing-charges-across-popular-websites-for-ay-2025-26/articleshow/123843505.cms ITR can be filed directly on the income tax department’s e-filing portal free of cost, either on your own or with the help
*Reassessment based on mechanical 148A(d) order without speaking reasons invalid
Clipped from: https://taxguru.in/income-tax/reassessment-based-mechanical-148ad-order-speaking-reasons-invalid.html Indus Valley Promoters Ltd. Vs DCIT (ITAT Delhi) Mechanical Reopening – No Reasons, No Reassessment- Blank 148A(d) Order Invalidates Reassessment: ITAT Delhi -Speaking
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