Read more at:https://economictimes.indiatimes.com/wealth/real-estate/can-nris-appoint-a-relative-as-power-of-attorney-to-manage-property-in-india/articleshow/129445778.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Synopsis ET Wealth Reader’s Query: Our daughter-in-law, an NRI in the USA, jointly owns a residential property in Mumbai with her sister,
Category: Income Tax
Wife living in London gives POA to family friend to manage his Vadodara property, friend gifts it to son and daughter-in-law; husband files case and wins in Gujarat HC
Read more at:https://economictimes.indiatimes.com/wealth/legal/will/wife-living-in-london-gives-poa-to-family-friend-to-manage-his-vadodara-property-friend-gifts-it-to-son-and-daughter-in-law-husband-files-case-and-wins-in-gujarat-hc/articleshow/133678531.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Justice Ilesh J. Vora and Justice R.T. Vachhani of Gujarat High Court recently ruled that a general Power of Attorney (POA) holder
*******Can NRIs gift money to an HUF and save tax? Check these income clubbing and tax rules before transferring funds
Read more at:https://economictimes.indiatimes.com/wealth/tax/can-nris-gift-money-to-an-huf-and-save-tax-check-these-income-clubbing-and-tax-rules-before-transferring-funds/articleshow/133673805.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Can NRIs gift money to HUF and save income tax? Gifting money to an HUF may seem like a simple family transaction,
*******8,000 shares and Rs 85 lakh LTCG: How did one investor prove her share gains were genuine?
Can the Income Tax Department treat your long-term capital gains (LTCG) from shares as false just because the stock later flagged as suspicious? The Mumbai Income Tax
*****Wife gets income tax notice after husband sells joint property Rs 14 lakh below market price; she fights back and wins the case in ITAT Kolkata
Read more at:https://economictimes.indiatimes.com/wealth/tax/wife-gets-income-tax-notice-after-husband-sells-joint-property-rs-14-lakh-below-market-price-she-fights-back-and-wins-the-case-in-itat-kolkata/articleshow/133654081.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mrs Shome from Birati received an income tax notice after her husband sold their joint property for Rs 16.31 lakh in FY2014-2015. Although the
*****Rs 16 lakh cash seized in income tax raid, tax officer calls it unexplained cash; Taxpayer claims it to be family money, he fights and wins the case in ITAT Mumbai
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-16-lakh-cash-seized-in-income-tax-raid-tax-officer-calls-it-unexplained-cash-taxpayer-claims-it-to-be-family-money-he-fights-and-wins-the-case-in-itat-mumbai/articleshow/133647793.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Anikesh Banerjee, Judicial Member, and Om Prakash Kant, Accountant Member of ITAT Mumbai, recently provided relief from an unexplained cash tax notice under Section
Filing ITR-3 for AY 2026-2027? Here’s 7 aspects to look out for before filing it
Read more at:https://economictimes.indiatimes.com/wealth/tax/filing-itr-3-for-ay-2026-2027-heres-7-aspects-to-look-out-for-before-filing-it/articleshow/133651013.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Synopsis The deadline to submit ITR-3 forms for non tax audit business income is set for August 31, 2026. For those requiring
*****Finance Act 2026: Updated return rules change for taxpayers reporting reduced losses
Read more at:https://economictimes.indiatimes.com/wealth/tax/finance-act-2026-updated-return-rules-change-for-taxpayers-reporting-reduced-losses/articleshow/133596062.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst ax laws do not always give taxpayers enough time to discover a mistake. An original return has its due date, a belated
Income-Tax Assessment Procedure Under Income-tax Act 2025
Income-Tax Assessment Procedure Under Income-tax Act 2025
Cash Deposits in Bank Account Opened With Forged KYC Cannot Be Taxed: ITAT Delhi
ByCA Sandeep KanoiIncome TaxFeatured , Judiciary Read more at: https://taxguru.in/income-tax/cash-deposits-bank-account-opened-forged-kyc-cannot-taxed-itat-delhi.html?utm_source=follow.it Copyright © Taxguru.in Summary: The Income Tax Appellate Tribunal, Delhi Bench “B”, considered the Revenue’s appeal against the order
Married Daughters Have Equal Coparcenary Rights in Joint Family Property: Karnataka HC
Read more at: https://taxguru.in/corporate-law/married-daughters-equal-coparcenary-rights-joint-family-property-karnataka-hc.html?utm_source=follow.it Copyright © Taxguru.in Shivalingaiah Vs Smt. Lakshmamma & Ors. (Karnataka High Court) Summary: The Karnataka High Court dismissed Regular First Appeal No.1669
Bangalore ITAT Condoned 159-Day Delay in ₹14.30 Lakh Appeal
Copyright © Taxguru.in https://taxguru.in/income-tax/bangalore-itat-condoned-159-day-delay-rs-14-30-lakh-appeal.html?utm_source=follow.it Village Agriculturist’s Digital Gap Is “Sufficient Cause”: Bangalore ITAT Condoned 159-Day Delay &; Restored ₹14.30 Lakh Appeal Summary: The assessee, Venkataramappa, was
₹60 Lakh Limit Ends JAO-vs-FAO Reassessment Battle at Bangalore ITAT
Read more at: https://taxguru.in/income-tax/rs-60-lakh-limit-ends-jao-fao-reassessment-battle-bangalore-itat.html?utm_source=follow.it Copyright © Taxguru.in ₹60 Lakh Litigation Limit Ends JAO-vs-FAO Battle: Bangalore ITAT Dismisses Revenue Appeal Against Quashing of Reassessment Summary: The assessee, Sreenath
Cash Deposited by Husband from Disclosed Income Cannot Be Added in Wife’s Hands u/s 69A: ITAT
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that cash deposited by a husband in his wife’s bank account cannot be separately
Kolkata ITAT Condones 59-Month Delay: Section 154 Rectification Pursuit Constitutes ‘Sufficient Cause’
Read more at: https://taxguru.in/income-tax/itat-kolkata-restores-appeal-condoning-59-month-delay-merits-hearing.html?utm_source=follow.it Copyright © Taxguru.in Kolkata ITAT Condones 59-Month Delay: Bona Fide Pursuit of Section 154 Rectification Is ‘Sufficient Cause’ for Delayed Appeal Summary:
*******Income-Tax Assessment Procedure Under Income-tax Act 2025
Read more at: https://taxguru.in/income-tax/income-tax-assessment-procedure-income-tax-act-2025.html?utm_source=follow.it Copyright © Taxguru.in Summary: The supplied article explains the assessment framework under the Income-tax Act, 2025, covering inquiry before assessment under Section 268,
*******NRI can’t sell Indian property before October 1, 2026 if buyer does not have TAN; Know how to apply for TAN online
Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-cant-sell-indian-property-before-october-1-2026-if-buyer-does-not-have-tan-know-how-to-apply-for-tan-online/articleshow/133530979.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/nri-cant-sell-indian-property-before-october-1-2026-if-buyer-does-not-have-tan-know-how-to-apply-for-tan-online/articleshow/133530979.cms If you own a property in India and your residential status is non-resident, then there are some income tax considerations you
IT Department denied 87A rebate on short-term gains; ITAT rules in taxpayer’s favour
https://www.financialexpress.com/money/income-tax/it-department-denied-87a-rebate-on-short-term-gains-itat-rules-in-taxpayers-favour/4325047 What happens when the Income Tax Department denies your Section 87A rebate because you earned short-term capital gains? A recent Jaipur ITAT ruling has
*******₹21.60 Lakh Loan Received by Wife from Husband Cannot Be Treated as Unexplained When ITR & Banking Channel Establish Transaction: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that Rs. 21.60 lakh loan received by a wife from her husband could not
