Category: Income Tax

Clipped from: https://taxguru.in/income-tax/itat-mumbai-sec-54-claim-denied-original-return-allowed-reassessment.html Mohd Azam Hasan Sheikh Vs Ward 42(2)(4) (ITAT Mumbai) ITAT Mumbai: Sec 54 Claim Cannot Be Denied Merely for No Original Return-Allowed in

Clipped from: https://economictimes.indiatimes.com/wealth/tax/new-itr-forms-alert-secondary-address-field-added-what-taxpayers-must-know/articleshow/130231240.cms The new Income Tax Forms which were notified last week introduced a bunch of changes that are relevant for all those planning to file their

Clipped from: https://economictimes.indiatimes.com/wealth/tax/sold-property-for-rs-94-lakh-but-lost-rs-21-lakh-tds-due-to-buyers-error-how-form-71-helped-seller-win-relief-from-itat-delhi/articleshow/130191667.cms Buyer deposited Rs 21 lakh property TDS in wrong year; ITAT Delhi allows seller’s Form 71 and grants tax credit (AI generated representative

Clipped from: https://www.financialexpress.com/money/your-queries-on-income-tax-use-advance-tax-calculator-on-i-t-portal-to-find-tax-payable-4203103/ Use advance tax calculator on I-T portal to find tax payable Your Tax Queries Answered: Avoiding Advance Tax Penalties and Maximizing Joint Loan

Clipped from: https://economictimes.indiatimes.com/wealth/tax/new-tds-traces-2-0-portal-launched-by-income-tax-department-know-how-it-helps-taxpayers-property-buyers/articleshow/130170195.cms Last week, the Income Tax Department rolled out a new TRACES (TDS Reconciliation Analysis and Correction Enabling System) 2.0 portal. This upgraded TRACES 2.0 portal

Clipped from: https://economictimes.indiatimes.com/wealth/tax/meal-card-tax-benefit-do-you-get-it-under-the-new-tax-regime/articleshow/130013775.cms The Income-Tax Rules, 2026, effective April 1, have raised the tax-free limit for employer-provided meal vouchers/ cards (Sodexo/Pluxee/Zaggle, etc) from Rs 50 to Rs

Clipped from: https://economictimes.indiatimes.com/wealth/tax/will-new-tds-rules-change-your-take-home-salary-from-april-12026-key-income-tax-related-changes-in-new-financial-year-fy26-27/articleshow/129951901.cms As the new financial year (FY 26-27) begins, salaried employees should note that some changes in Tax Deducted at Source (TDS) rules have

clipped from: https://economictimes.indiatimes.com/wealth/tax/new-itr-forms-for-ay-2026-27-nris-opting-for-new-presumptive-income-scheme-have-to-make-this-separate-disclosure-additionally/articleshow/130161969.cms The updated income tax return (ITR) forms for AY 2026-27 now feature specific columns for reporting profits and gains from businesses that fall

Clipped from: https://www.financialexpress.com/money/taxpayer-sells-5-villas-and-buys-a-new-property-in-sisters-name-still-gets-capital-gains-tax-relief-heres-how-4201365/ An NRI taxpayer who sold five villas for Rs 5.26 crore secured a Rs 2.80 crore capital gains exemption under Section 54F—even though

Clipped from: https://economictimes.indiatimes.com/wealth/tax/filing-itr-just-got-easier-this-new-ai-chatbot-helps-with-income-tax-queries-forms-and-rules-check-details/articleshow/130138268.cms For the average person, who doesn’t deal with taxes often, filing income tax returns can seem pretty confusing and time-consuming, especially with the

Clipped from: https://economictimes.indiatimes.com/wealth/tax/4-new-pan-card-forms-in-fy26-27-which-form-to-use-93-94-95-or-96-old-vs-new/articleshow/130107324.cms PAN New forms Many taxpayers applying for a Permanent Account Number (PAN) from April 1, 2026, must have noticed an important change, there

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-rules-revamped-from-april-1-deadlines-pan-itr-u-changes-explained-524440-2026-04-07 With the rollout of the Income Tax Act, 2025 and new compliance rules, key changes have been introduced to ITR deadlines, along with

Clipped from: https://www.financialexpress.com/life/technology-itr-2026-27-what-is-kar-saathi-ai-chatbot-and-how-you-can-use-it-for-filing-taxes-this-year-4198702/ The AI chatbot uses advanced natural language processing to deliver accurate, context-aware responses, making it especially helpful for first-time filers and salaried individuals. 

Clipped from: https://www.financialexpress.com/money/income-tax-old-vs-new-tax-regime-which-one-actually-helps-you-build-wealth-4196867/ Choosing between the old and new tax regimes is no longer just about saving tax. Your decision directly impacts how much you invest,

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/form-121-and-uin-the-future-of-tax-compliance-for-seniors-explained-524066-2026-04-06 If you are a senior citizen earning interest from fixed deposits, a key tax rule has changed from April 2026. Form 15H has

Clipped from: https://www.business-standard.com/finance/personal-finance/send-or-receive-money-abroad-new-tax-rules-will-change-your-paperwork-126040300184_1.html The Central Board of Direct Taxes (‘CBDT’) has notified the Income-tax Rules, 2026 (‘Rules 2026’) along with the Forms, for the Income-tax Act,

Clipped from: https://www.financialexpress.com/money/oracle-layoffs-how-severance-pay-of-employees-will-be-taxed-key-rules-exemptions-4194297/ Oracle layoffs have brought severance pay and its tax treatment into focus. From salary components to exemptions and relief under Section 89(1), here’s

Clipped from: https://www.financialexpress.com/money/your-money-disclose-relationship-with-landlord-to-claim-hra-4194614/ The Income Tax Rules 2026 expand the 50% HRA exemption to four new cities—Bengaluru, Hyderabad, Pune, and Ahmedabad—aligning them with traditional metros. The

Clipped from: https://economictimes.indiatimes.com/wealth/tax/form-121-replaces-form-15g-15h-for-tds-filing-check-who-should-file-purpose-and-key-details-explained/articleshow/130016169.cms Form 121 for TDS: What it means for taxpayers To make the process simpler and more streamlined for individuals and senior citizens, the government