Category: Income Tax

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

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/got-an-income-tax-notice-what-you-must-check-before-trusting-any-tax-notice-524002-2026-04-04 The 2026 circular retains DIN as mandatory for most tax communications but allows greater flexibility in how it is referenced, including via email

Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-changes-from-april-2026-5-key-updates-for-tax-year-202627-explained/articleshow/130014656.cms Starting April 1, 2026, the Income Tax Act, 2025 and Income Tax Rules, 2026 apply to all taxpayers. But, with these new regulations, there are

lipped from: https://www.taxscan.in/top-stories/itat-invalidates-reopening-based-on-audit-objection-as-change-of-opinion-upholds-deletion-of-660-cr-interest-disallowance-us-36-1444514 ITAT quashed audit-based reassessment and deleted₹6.60 crore interest disallowance The Income Tax AppellateTribunal (ITAT) Pune Bench has held that reassessment proceedings initiated on the sole

Clipped from: https://www.business-standard.com/finance/personal-finance/form-130-replaces-form-16-experts-explain-what-s-changing-in-tax-year-126040301114_1.html New document become the statutory tax deduction certificate, introducing a three-part structure and shifting reporting from the ‘assessment year’ to a ‘tax year’

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. HRA

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/cbdt-releases-itr-forms-for-ay-2026-27-check-key-changes-for-return-filing-523394-2026-03-31 ITR-1 can now be used to report income from up to two house properties. Earlier, taxpayers with more than one property had to

Kar Saathi will function as an intelligent virtual assistant, enabling taxpayers to understand rules, file returns, and resolve queries without relying heavily on intermediaries. The

https://www.business-standard.com/finance/personal-finance/high-value-property-gifts-to-come-under-sft-reporting-rule-237-126040100955_1.html India’s tax reporting framework for high-value property transactions is tightening, with a sharper focus on transparency. Under the newly introduced Rule 237 of the

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-2026-rule-9-puts-nri-india-linked-income-under-sharper-lens-523532-2026-04-01 A key highlight is the introduction of Rule 9, which provides a structured mechanism for estimating taxable income of non-residents when exact figures

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/income-tax-rules-2026-form-121-simplifies-tds-process-for-senior-citizens-523555-2026-04-01 Until now, senior citizens relied on Form 15H to declare that their income was below the taxable limit and to prevent TDS on

Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-kick-in-old-vs-new-regime-what-changes-in-deductions-exemptions-and-rebates-for-taxpayers-4191140/ New Income Tax Rules have come into effect from April 1, bringing key changes in exemptions, allowances, and perquisites. While the old tax