Read more at:https://economictimes.indiatimes.com/wealth/tax/paid-rs-6-5-crore-and-bought-a-property-with-stamp-duty-value-of-rs-8-85-crore-got-income-tax-notice-for-unexplained-investment-he-fought-back-won-relief-in-itat/articleshow/133149184.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When a property buyer from Veera Desai Road, Andheri West, Mumbai purchased a property in Pune for Rs 6.5 crore in AY 2017-18, he
Category: Income Tax
Sold property for Rs 94 lakh despite a stamp value of Rs 1.93 crore, received an income tax notice under Section 50C; ITAT Chennai grants relief for this reason
Read more at:https://economictimes.indiatimes.com/wealth/tax/sold-property-for-rs-94-lakh-despite-a-stamp-value-of-rs-1-93-crore-received-an-income-tax-notice-under-section-50c-itat-chennai-grants-relief-for-this-reason/articleshow/133100955.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Mr Pragalanadane from the ERI Scheme Moggappair, West Chennai, sold a property in Chennai for Rs 94 lakh during AY 2017-18. However,
*******How should my NRI children disclose gifts received from relatives in ITR-2?
Read more at:https://economictimes.indiatimes.com/wealth/tax/how-should-my-nri-children-disclose-gifts-received-from-relatives-in-itr-2/articleshow/133143816.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst These are a set of queries raised by ET Wealth readers, which have been answered by our panel of experts. My two
*****ITAT Delhi Quashes Assessment as Section 153C, Not Section 143(3), Was Applicable
Read more at: https://taxguru.in/income-tax/itat-delhi-quashes-assessment-section-153c-not-section-143-3-applicable.html Copyright © Taxguru.in https://taxguru.in/income-tax/itat-delhi-quashes-assessment-section-153c-not-section-143-3-applicable.html The Delhi Bench of the Income Tax Appellate Tribunal allowed the appeal filed by Raja Varshney against the
*****Panaji ITAT Deletes ₹32.25 Lakh Section 68 Addition After Assessee Explains Source
Read more at: https://taxguru.in/income-tax/panaji-itat-deletes-rs-32-25-lakh-section-68-addition-assessee-explains-source.html Copyright © Taxguru.in https://taxguru.in/income-tax/panaji-itat-deletes-rs-32-25-lakh-section-68-addition-assessee-explains-source.html Panaji ITAT Deletes ₹32.25 Lakh Section 68 Addition: Once Assessee Explains Nature, Source and Even “Source of Source”,
*****Section 143(1) to 245: Decoding the 7 income tax notices every taxpayer should know
https://www.businesstoday.in/personal-finance/tax/story/section-1431-to-245-decoding-the-7-income-tax-notices-every-taxpayer-should-know-546756-2026-08-04 Here’s a look at the seven key income tax notices taxpayers should understand after filing their ITR. Section 143(1): Intimation This is the most
F&O income tax filing: Which ITR form to use, how to calculate turnover, and new AY 2026-27 rules explained ahead of due dates
https://www.financialexpress.com/money/income-tax/fampo-income-tax-filing-which-itr-form-to-use-how-to-calculate-turnover-and-new-ay-2026-27-rules-explained-ahead-of-due-dates/4310279 If you trade in Futures and Options (F&O), filing your Income Tax Return (ITR) involves additional reporting requirements. Since F&O income is treated as non-speculative business
*******Can you get income tax notice for making digital payments through UPI, NEFT, RTGS, and IMPS? Know when it can be triggered– Coutersy ET
Read more at:https://economictimes.indiatimes.com/wealth/tax/can-you-get-income-tax-notice-for-making-digital-payments-through-upi-neft-rtgs-and-imps-know-when-it-can-be-triggered/articleshow/132991116.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Do you believe that an income tax notice gets triggered only when you deposit large sums of cash? Think again. Even legitimate transactions made
Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains why
Read more at:https://economictimes.indiatimes.com/wealth/tax/rs-1-33-crore-cash-deposit-no-itr-filing-yet-senior-citizen-wins-income-tax-case-itat-bangalore-explains-why/articleshow/132994693.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst When Mr Marathikyathanahalli, a retired teacher from Mysore, deposited Rs 1.33 crore in cash into his bank account, it triggered the red
Useful information regarding income tax return filing in case of deceased person–Article courtesy BS
Rs 1,000 or Rs 5,000 late filing fee for missing ITR filing deadline of July 31? How much fine you may need to pay and why
Read more at:https://economictimes.indiatimes.com/wealth/tax/income-tax-itr-filing-deadline-of-july-31-2026-fy-25-26-penalty-for-missing-due-date-explained-under-2025-act/articleshow/132739647.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst The July 31, 2026, deadline for filing income tax returns is crucial for salaried individuals, pensioners, students and other taxpayers who are
*****Not prepared for ITR filing: Should you file your ITR now with available information or wait and file a belated ITR?
Read more at:https://economictimes.indiatimes.com/wealth/tax/not-prepared-for-itr-filing-should-you-file-your-itr-now-with-available-information-or-wait-and-file-a-belated-itr/articleshow/132757221.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst July 31, 2026 is the due date to file income tax return (ITR) by salaried individuals, pensioners, students and other taxpayers who are not
What if you miss the July 31, 2026 ITR filing due date? Here are your options
Read more at:https://economictimes.indiatimes.com/wealth/tax/what-if-you-miss-the-july-31-2026-itr-filing-due-date-here-are-your-options/articleshow/132757497.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst July 31, 2026 is the due date to file income tax return (ITR) by salaried, pensioners, students and other taxpayers who are
Don’t worry if you miss July 31, 2026 ITR filing due date as belated ITR with late fee can be filed by this date; Know who can file it
Read more at:https://economictimes.indiatimes.com/wealth/tax/itr-income-tax-return-filing-deadline-july-31-2026-for-fy-2526-belated-updated-revised-options-if-you-miss-due-date/articleshow/132757993.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Synopsis ITR filing deadline: Missing the July 31 income tax filing deadline allows for belated returns. Taxpayers can file a belated return
*******ITR -Very much useful article–ET
https://economictimes.indiatimes.com/prime/one-day-left-to-file-itr-do-not-click-submit-before-checking-these-points/primearticleshow/132724542.cms Nobody experiences life as a financial year. A job changes because a better one is available. A fixed deposit renews because the bank was
‘Allow honest taxpayers to fix bona fide errors’: Sitharaman flags 5 tax priorities as ITR deadline nears
https://www.financialexpress.com/money/income-tax-allow-honest-taxpayers-to-fix-bona-fide-errors-sitharaman-flags-5-tax-priorities-as-itr-deadline-nears-4302789 Allow honest taxpayers to fix bona fide errors’: Sitharaman flags 5 tax priorities as ITR deadline nears Finance Minister Nirmala Sitharaman has directed officials
Look out for any tax notices after filing your ITR
https://www.financialexpress.com/money/look-out-for-any-tax-notices-after-filing-your-itr-4301797 Received an Income Tax Intimation? How to Respond to Section 143(1) Notices & Tax Demands AFTER FILING THE income tax return (ITR), taxpayers receive the intimation
*******Are gifts given to NRIs by relatives taxable? Here’s what you need to know about income tax and FEMA rules
Read more at:https://economictimes.indiatimes.com/wealth/tax/are-gifts-given-to-nris-by-relatives-taxable-heres-what-you-need-to-know-about-income-tax-and-fema-rules/articleshow/132617658.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/are-gifts-given-to-nris-by-relatives-taxable-heres-what-you-need-to-know-about-income-tax-and-fema-rules/articleshow/132617658.cms Picture an NRI receiving a gift worth lakhs of rupees from someone back home in India. Will it be taxable? The
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