Category: Seven Star
*******ITR-U cannot be filed if proceedings are initiated against a taxpayer, even when it is unrelated to the income to be disclosed in ITR-U, why Budget 2026 must fix this – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/itr-u-cannot-be-filed-if-proceedings-are-initiated-against-a-taxpayer-even-when-it-is-unrelated-to-the-income-to-be-disclosed-in-itr-u-why-budget-2026-must-fix-this/articleshow/126477048.cms The most significant limitation arises once assessment, reassessment or revision proceedings are initiated or concluded for the relevant assessment year—irrespective of whether the
*******India’s proposed smartphone security rules that are worrying tech firms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/electronics/indias-proposed-phone-security-rules-that-are-worrying-tech-firms-apple-google-samsung-xiaomi/articleshow/126463346.cms Synopsis India is proposing new security rules for smartphone makers. These rules include source code disclosure and background permission restrictions for apps. Companies
*******India proposes forcing smartphone makers to give source code in security overhaul – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/electronics/india-proposes-forcing-smartphone-makers-to-give-source-code-in-security-overhaul-apple-samsung/articleshow/126463149.cms Synopsis India is proposing new security rules for smartphones. These include sharing source code and making software changes. Tech companies like Apple and
*******Fearing de-dollarisation: On the U.S., oil and the petrodollar – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/fearing-de-dollarisation-on-the-us-oil-and-the-petrodollar/article70491351.ece U.S.’s moves on oil reflect its uneasiness over global trade and finance Updated – January 10, 2026 10:05 am IST President Donald Trump’s urgency
*******Reopening Quashed for Non-Supply of Material Relied Upon in Reasons
Clipped from: https://taxguru.in/income-tax/reopening-quashed-non-supply-material-relied-reasons.html Ajay Kumar Bajaj Vs ITO (ITAT Raipur) Reopening Quashed for Non-Supply of Material Relied Upon in Reasons: ITAT Raipur Summary: The Raipur Bench (SMC)
*******Understanding Shift in Surcharge, Rebate, and Marginal Relief Provisions under New Income Tax [Old vs. New Income Tax Act Series – Article 5]
Clipped from: https://www.taxscan.in/top-stories/understanding-shift-in-surcharge-rebate-and-marginal-relief-provisions-under-new-income-tax-old-vs-new-income-tax-act-series-article-5-1440718?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332348 The Income-tax Act, 2025, which was signed into legislation by the president on August 21, 2025, is an entirely new version of the
*******Assessments and Time Limits under Income Tax Act [New v/s Old Tax Act Series]
Clipped from: https://www.taxscan.in/top-stories/assessments-and-time-limits-under-income-tax-act-new-vs-old-tax-act-series-1441036?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332356 This article analyzes the various types of assessments and deadlines for issuing income tax notices, and compares significant changes under the new Income
*******Digital Privacy Issues under Income Tax Act, 2025: Search Powers Explained
Clipped from: https://www.taxscan.in/top-stories/digital-privacy-issues-under-income-tax-act-2025-search-powers-explained-1440688?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332353 Where a taxpayer persistently fails to disclose income or assets despite statutory opportunities, the Income Tax Department may, as a measure of last
*******Deductions Under Income Tax: Computation Methods, Regime Comparison, and Procedural Changes in New Income Tax Act [Old vs New Income Tax]
Clipped from: https://www.taxscan.in/top-stories/deductions-under-income-tax-computation-methods-regime-comparison-and-procedural-changes-in-new-income-tax-act-old-vs-new-income-tax-1440555?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332370 This Article compares deduction computation and total income calculation under the Old Income Tax Act, 1961 and the New Income Tax Act, 2025,
*******Special Allowances – Exemptions and Taxability Under Income Tax Act [Old vs New Tax Act Series]
lipped from: https://www.taxscan.in/top-stories/special-allowances-exemptions-and-taxability-under-income-tax-act-old-vs-new-tax-act-series-1440918?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332373 Special allowances constitute a large portion of your salary package and understanding how to maximize these allowances for tax purposes, as well as
*******Search and Seizure Proceedings, Powers, and Procedural Safeguards in New Income Tax Act [Old vs New Income Tax Series – Article 3]
Clipped from: https://www.taxscan.in/top-stories/search-and-seizure-proceedings-powers-and-procedural-safeguards-in-new-income-tax-act-old-vs-new-income-tax-series-article-3-1440403?TRN300=sEkwzRcDcauPBvUCgvEMCkGGaSJdWdMBeDsweVqxgjxMvUfsiMSBJIUqKMsaCH&LKD333=3332359 This article explains how the Income-tax Act, 2025 modernises search and seizure powers for a digital economy, compares them with the old law
*******UK-based taxpayer ignored tax notices, still escaped Rs 10,000 penalty; here’s why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/uk-based-taxpayer-ignored-tax-notices-still-escaped-rs-10000-penalty-heres-why/articleshow/126435675.cms Recently, the income tax appellate tribunal (ITAT) Delhi, provided relief to Mr Mahesh, a resident of the United Kingdom (UK), by canceling an income tax penalty of
*******Earn Rs 14.65 lakh and still pay no tax—here’s the NPS, EPF math – The Economic Times–
Clipped from: https://economictimes.indiatimes.com/wealth/tax/pay-zero-tax-on-14-65-lakh-salary-how-nps-epf-tax-benefits-in-new-tax-regime-help-you-save-huge-tax/articleshow/126450471.cms Salaried individuals who opt for the new tax regime don’t have to pay any tax if their annual salaried income is Rs 12,00,000. Beyond this
*******Tax Treatment On Gifts Given To Children – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-treatment-on-gifts-given-to-children/article70433927.ece Taxability of retirement benefits (gratuity, leave encashment, provident fund withdrawal, retrenchment compensation, VRS, etc.) is examinedin the hands of the employee I received
*******UAE based taxpayer earned Rs 4 crore income in India on which TDS was deducted but didn’t file ITR, got tax notice; wins case in ITAT Delhi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/uae-based-taxpayer-earned-rs-4-crore-income-in-india-on-which-tds-was-deducted-but-didnt-file-itr-got-tax-notice-wins-case-in-itat-delhi/articleshow/125819040.cms On November 19, 2025, the Income Tax Appellate Tribunal ruled that if a non-resident taxpayers’ total income from India consists solely of dividends, interest, etc
*******OpenAI launches ChatGPT Health, but it won’t diagnose or treat you | Health News – Business Standard
Clipped from: https://www.business-standard.com/health/openai-launches-chatgpt-health-but-it-wont-diagnose-or-treat-you-126010800587_1.html ChatGPT Health introduces a dedicated space for health queries, allowing users to link medical records and fitness apps, even as OpenAI warns it
*******Why IndiGo still matters – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/why-indigo-still-matters/4099567/ Dismantling a model that kept it afloat will not improve safety or affordability. IndiGo operates squarely within this contradiction. It is often described as
*******GDP growth raises questions – The HinduBusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/gdp-growth-raises-questions/article70460796.ece High real growth above 8%, inflation near target, and muted nominal growth is an unusual combination India’s growth is robust, but there is
*******Tariffs as theatre – Opinion News | The Financial Express
Clipped from: https://www.financialexpress.com/opinion/tariffs-as-theatre/4098419/ Trump’s latest threat underscores his contempt for rule-based trade. India must respond with patience. Trump’s universe, economic coercion is not an exception to
aniltikotekar4sme.com 