Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/gratuity-payment-after-1-year-of-service-for-salaried-employees-under-fixed-term-employment-know-how-it-works-and-who-are-eligible-for-it/articleshow/125556010.cms The new labour codes which were incorporated into the labour laws on November 21, 2025, brought about significant changes in the way employees
Category: Three Star
***Sale of Late Mother’s Flat for Multiple Residential Houses eligible for Income Tax S.54 Exemption: Bombay HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/sale-of-late-mothers-flat-for-multiple-residential-houses-eligible-for-income-tax-s54-exemption-bombay-hc-1429946?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307229 The Assessing Officer had denied the Section 54 exemption and the Income Tax Appellate Tribunal (ITAT) partly allowed relief for only one unit.
***Meals, Transport & Courier Expenses not Part of “Transfer of House Property”: ITAT Rejects NRI’s Income Tax Deduction Claims [Read Order]
Clipped from: https://www.taxscan.in/top-stories/meals-transport-courier-expenses-not-part-of-transfer-of-house-property-itat-rejects-nris-income-tax-deduction-claims-1437543?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307239 The assessee claimed that several travel-related and incidental expenses were incurred exclusively for completing the sale of his Bengaluru property The Bengaluru Bench of the
***Excess trade advance received back in cash cannot be added u/s. 68 as unexplained cash credit
Clipped from: https://taxguru.in/income-tax/excess-trade-advance-received-cash-added-u-s-68-unexplained-cash-credit.html Lalitha Padmaja Thallapalli Vs ITO (ITAT Hyderabad) ITAT Hyderabad held that trade advance given to goldsmith for making gold jewellery and excess amount
***FinMin to hold colloquium on rising pendency of debt recovery cases in DRTs | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/fin-min-to-hold-colloquium-on-rising-pending-debt-recovery-cases-in-drts-125122900808_1.html DFS will meet DRT and DRAT heads and senior bank executives on December 30 to discuss measures to speed up recoveries as pending
***Missed the ITR Deadline? Here’s what you need to know about filing a Belated Return for AY25 26 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/missed-the-itr-deadline-heres-what-you-need-to-know-about-filing-a-belated-return-for-ay25-26-495986-2025-09-27 Taxpayers who missed the deadline get another opportunity to comply by filing a belated return. The Income Tax (I-T) Department has confirmed that
***SBI credit card protection cover to cost less, new benefits kick in Sept 16 | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/sbi-credit-card-protection-cover-to-cost-less-new-benefits-kick-in-sept-16-125082600666_1.html Cardholders to pay less for SBI’s protection plan from September, as CPP variants get revised fees without losing key fraud cover and emergency
1***ITR 2 now live for online filing with pre filled data; six key changes taxpayers must note – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-2-now-live-for-online-filing-with-pre-filled-data-six-key-changes-taxpayers-must-note-485175-2025-07-18 The department attributed the overall delay in releasing updated ITR utilities to recent legislative changes under the Finance Act 2024, prompting the extension
1***Avoid penalties: Fix AIS discrepancies before submitting ITR; Here’s what to do – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/ais-discrepancies-correction-income-tax-department-ay-2025-26-485186-2025-07-18 If your Annual Information Statement (AIS) shows incorrect data, it’s important not to ignore it. Errors or mismatches in the AIS can lead
1***Capital gain on property: How to pay lower LTCG tax using indexation benefit – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gain-on-property-how-to-pay-lower-ltcg-tax-using-indexation-benefit/articleshow/122633971.cms How claiming indexation benefit can help you pay lower long term capital gains (LTCG) tax on real estate sale transactions Only transactions that
1***How to file ITR online: Step-by-step guide for e-filing income tax return for AY2025-26 – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/how-to-file-itr-online-step-by-step-guide-for-e-filing-income-tax-return-for-ay2025-26-3865728/ Though ITR filing can still be done via offline and online mode both, most taxpayers nowadays prefer filing ITR online using the Income
1***Capital gain tax ready reckoner: Listed equity, unlisted equity, gold, house property, and other assets for ITR filing FY 2024-25 (AY 2025-26) – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gain-tax-ready-reckoner-listed-equity-unlisted-equity-gold-house-property-and-other-assets-for-itr-filing-fy-2024-25-ay-2025-26/articleshow/122559999.cms The capital gains rules got updated starting July 23, 2024, for the fiscal year 2024-25. Since these changes happened mid-year, both the old
1***ITR errors? Revise your return by Dec 31 or risk notices, penalties, even prosecution
Clipped from: https://www.businesstoday.in/personal-finance/tax/photo/itr-errors-revise-your-return-by-dec-31-or-risk-notices-penalties-even-prosecution-484773-2025-07-15/4 Filing your income tax return can be tedious, with complex forms, AIS mismatches, and portal glitches adding to the stress. While the deadline
***ITR Filing 2025: Filed the wrong ITR form? You could lose your refund and face… – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-filed-the-wrong-itr-form-you-could-lose-your-refund-and-face-3912526/ If your capital gains exceed ₹1.25 lakh, filing ITR-1 will make your return invalid. If your capital gains exceed ₹1.25 lakh, filing ITR-1
***Bitcoin gains? Here’s exactly how Indian investors must file and pay tax in 2025 – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/bitcoin-gains-heres-exactly-how-indian-investors-must-file-and-pay-tax-in-2025-484417-2025-07-13 Additionally, a 1% TDS (Tax Deducted at Source) is levied by crypto exchanges on every sale or trade over ₹10,000 annually (₹50,000 in
***ITR under investigation: Your tax refund may be withheld if your claim is unusually high – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-under-investigation-no-tax-refund-this-year-if-your-claim-in-return-filing-is-unusually-3912130/ Taxpayers are worried about the delay in getting tax refund in 2025. Expert said – Refunds are getting stuck due to delay in
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