Category: Income Tax
Gifts to daughter-in-law are tax-free, but parents-in-law pay tax on income; Why Budget 2026 should fix this anomaly – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/gifts-to-daughter-in-law-are-tax-free-but-parents-in-law-pay-tax-on-income-why-budget-2026-should-fix-this-anomaly/articleshow/126103193.cms Listen to this article in summarized format Many taxpayers don’t realise that while gifts to a daughter-in-law are tax-free, the income generated from those gifts is
Your income tax queries answered: File revised returns if AIS is showing additional income – Income Tax News | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax-your-income-tax-queries-answered-file-revised-returns-if-ais-is-showing-additional-income-4082988/ By filing a revised return, you can ensure that your income records are accurate and fully compliant with the Income Tax Department’s requirements.
What people got wrong in filing tax returns; how they can do better in 2026 | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/what-people-got-wrong-in-filing-tax-returns-how-they-can-do-better-in-2026-125121900521_1.html Tax experts say that omissions, data mismatches, and common assumptions were the primary causes of defective returns, penalties, and delayed refunds this year,
Intimidating tone by I-T dept, Karnataka CA body flags income tax intimations about AIS mismatch, property deal, foreign asset – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/intimidating-tone-by-i-t-dept-karnataka-ca-body-flags-income-tax-intimations-about-ais-mismatch-property-deal-foreign-asset/articleshow/126074449.cms Listen to this article in summarized format The Income Tax Department has sent intimations to many taxpayers in the past few days, nudging them about any
Income tax dept releases FAQs on tax deduction on donation under Section 80G – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/income-tax-dept-releases-faqs-on-tax-deduction-on-donation-under-section-section-80g/articleshow/126076074.cms Listen to this article in summarized format Taxpayers who donate to charitable organisations can claim tax deduction under Section 80G of the Income Tax
Jurisdiction Issue– Income Tax Rules–Courtesy TMI
5. 170/2025 – Dated: 15-12-2025 – ITJurisdiction of Income tax Authorities Summary: Notification No. 170/2025, issued under section 120(1) and (2) of the Income-tax Act, 1961,
Co-Operative Societies liable to deduct TDS on Interest Payments: Kerala HC [Read Order]
lipped from: https://www.taxscan.in/top-stories/co-operative-societies-liable-to-deduct-tds-on-interest-payments-kerala-hc-1436169?TRN300=CvbWznSUcADqkeKDfkCMsKGgAsZDwdMkVkUfBSPXwjHMedFSyMSBziulBMCAsx&LKD333=3247155 Co-Operative Societies Functioning as Banks Must Deduct TDS: Kerala High Court In a significant ruling, the Kerala High Court has held that Co-operative
Real estate broker’s excel sheet triggers Rs 48 lakh ‘cash payment’ tax notice; homebuyer wins relief in ITAT Ahmedabad – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/legal/will/real-estate-brokers-excel-sheet-triggers-rs-48-lakh-cash-payment-tax-notice-homebuyer-wins-relief-in-itat-ahmedabad/articleshow/125960284.cms On November 25, 2025, the Income Tax Appellate Tribunal (ITAT) Ahmedabad, held that if the source of funds from a property sale is clarified and qualifies
Income Tax Judgements shared by CA Mr Amey Sane
Digest of useful judgments – Volume 4 – 01.12.2025
Relief to Aditya Birla Sun Life Insurance: ITAT Quashes Reassessment Notice u/s 148 Issued Beyond Statutory Time Limit Under New Regime [Read Order]
Clipped from: https://www.taxscan.in/top-stories/relief-to-aditya-birla-sun-life-insurance-itat-quashes-reassessment-notice-us-148-issued-beyond-statutory-time-limit-under-new-regime-1439873?TRN300=SeBwznSuSAuqKEBiUFAMSbwGaSZDwdMkeKydFAlXWJhMVUFciMcBZyDRbMcACH&LKD333=3266322 The Tribunal reaffirmed that reassessment proceedings under new regime must strictly adhere to limitation and sanction requirements In a recent ruling in the
Bogus tax deductions under scanner: CBDT flags fake donation claims, warns taxpayers via SMS and email – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/bogus-tax-deductions-under-scanner-cbdt-flags-fake-donation-claims-warns-taxpayers-via-sms-and-email-4075802/ The CBDT has nudged taxpayers to voluntarily withdraw bogus deduction claims after uncovering fake donation rackets and suspicious intermediaries. The tax department says
Bombay HC Condones 2732-day Delay in Electronic Filing of Form 10B
Clipped from: https://taxguru.in/income-tax/bombay-hc-condones-2732-day-delay-electronic-filing-form-10b.html Borivli Education Society Vs CIT (Exemption) (Bombay High Court) The Bombay High Court addressed a petition filed by an educational society challenging the
Leave Encashment Exemption Upheld Under Revised CBDT Limit
Clipped from: https://taxguru.in/income-tax/leave-encashment-exemption-upheld-revised-cbdt-limit.html Devi Dutt Agarwal Vs Assessment Unit (ITAT Jaipur) Income Tax Appellate Tribunal (ITAT), Jaipur Bench, decided the appeal of an individual assessee against
ITAT Chennai Declares Reassessment Notice Invalid for Violating Faceless Scheme
Clipped from: https://taxguru.in/income-tax/itat-chennai-declares-reassessment-notice-invalid-violating-faceless-scheme.html Sappahire Educational & Charitable Trust Vs ITO (ITAT Chennai) The Income Tax Appellate Tribunal (ITAT), Chennai, considered appeals filed by Sappahire Educational &
Telangana HC Quashed Reassessment Notices for Not Following Faceless Procedure
Clipped from: https://taxguru.in/income-tax/telangana-hc-quashed-reassessment-notices-faceless-procedure.html Tecumseh Products lndia Private Limited Vs DCIT (Telangana High Court) The Telangana High Court heard a writ petition challenging notices issued under Sections
Fired employee gets Rs 26 lakh severance pay, but didn’t pay income tax; loses tax battle in ITAT Hyderabad for this key reason – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/fired-employee-gets-rs-26-lakh-severance-pay-but-didnt-pay-income-tax-loses-tax-battle-in-itat-hyderabad-for-this-key-reason/articleshow/125783115.cms Listen to this article in summarized format On November 19, 2025, the Income Tax Appellate Tribunal (ITAT) in Hyderabad decided that any severance
*******Gift gone wrong: How a tax exempt Rs 1.3 crore family gift turned into a Rs 70 lakh tax shock – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/gift-gone-wrong-how-a-tax-exempt-rs-13-crore-family-gift-turned-into-a-rs-70-lakh-tax-shock-504677-2025-12-02 The Income Tax Department has clarified that monetary gifts received by individuals and HUFs are taxable under Section 56(2)(x) unless specifically exempt. Gifts
I-T targets 25,000 high-risk foreign asset cases in fresh drive – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/i-t-targets-25000-high-risk-foreign-asset-cases-in-fresh-drive-4058348/ The move, which follows the disclosure of over ₹29,000 crore in the first phase, aims to boost compliance before severe penalties under the
*******How to check income tax refund status via PAN card? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-to-check-income-tax-refund-status-via-pan-card/articleshow/125539158.cms Listen to this article in summarized format For many taxpayers, Income Tax Return (ITR) refunds are taking longer than usual this year due
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