lipped from: https://www.businesstoday.in/personal-finance/tax/story/selling-dads-old-house-how-you-can-pay-rs-908-lakh-instead-of-rs-1225-lakh-in-capital-gains-tax-494937-2025-09-20 Selling an inherited property can be costly if you don’t know the rules, but a few tax-saving strategies can help preserve your wealth.
Category: Income Tax
*Top five changes in income tax audit form 3CD for AY 2025-26; Check details – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/top-five-changes-in-income-tax-audit-form-3cd-for-ay-2025-26-check-details/articleshow/124012292.cms September 30, 2025, is the deadline for for eligible taxpayers. including certain individuals, to submit their income tax audit reports. Just to give you a
*****HRA Claim Restricted to 50% as Rent Agreement in Joint Name with Brother, rules ITAT Despite Assessee Bearing Entire Rent [Read Order]
Clipped from: https://www.taxscan.in/top-stories/hra-claim-restricted-to-as-rent-agreement-in-joint-name-with-brother-rules-itat-despite-assessee-bearing-entire-rent-1432977 Despite the assessee’s submission that the entire rent of ₹1,26,500 was paid by him and that his brother had not claimed any HRA
*****CBDT issues SOP to track capital gains from JDAs, reports due Oct 31 | Industry News – Business Standard
lipped from: https://www.business-standard.com/industry/news/cbdt-sop-capital-gains-jda-october-deadline-125091701218_1.html CBDT has issued an SOP for field officers to track capital gains from JDAs using RERA data, cross-checking with ITRs and requiring reports
*****ITR deadline gone: How a slight mismatch can lead to tax notices; key things to note – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-gone-how-a-slight-mismatch-can-lead-to-tax-notices-key-things-to-note-494372-2025-09-17 Even small mistakes in your Income Tax Return (ITR), like missing a few thousand rupees of interest income, can trigger a notice from
*******Property and assets gifted to son’s wife: Will the income from it be clubbed to your income for tax purposes? – The Economic Times
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
*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
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