Category: Unread
Taxpayer misses Rs 38 lakh income in ITR, pays tax and faces 200% penalty; ITAT says this
https://www.financialexpress.com/money/income-tax/taxpayer-misses-rs-38-lakh-income-in-itr-pays-tax-and-faces-200-penalty-itat-says-this/4339673 A tax notice or penalty can be a major financial headache for any taxpayer, especially when the amount is nearly Rs 24 lakh, and the
Indian moves to US for job, forgets to file ITR, Income Tax Dept imposes Rs 8.29 lakh penalty; ITAT Jaipur cancels penalty and gives full relief
Read more at:https://economictimes.indiatimes.com/wealth/tax/indian-moves-to-us-for-job-forgets-to-file-itr-income-tax-dept-imposes-rs-8-29-lakh-penalty-itat-jaipur-cancels-penalty-and-gives-full-relief/articleshow/134210569.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/indian-moves-to-us-for-job-forgets-to-file-itr-income-tax-dept-imposes-rs-8-29-lakh-penalty-itat-jaipur-cancels-penalty-and-gives-full-relief/articleshow/134210569.cms When Mr Saxena from Malviya Nagar got an onsite job offer from a multinational company in the United States of America
Advance tax deadline today: What will be the consequences if you miss September 15, 2026, due date?
Read more at:https://economictimes.indiatimes.com/wealth/tax/advance-tax-deadline-today-what-will-be-the-consequences-if-you-miss-september-15-2026-due-date/articleshow/134253751.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/advance-tax-deadline-today-what-will-be-the-consequences-if-you-miss-september-15-2026-due-date/articleshow/134253751.cms The deadline for filing the second instalment of advance tax is today (Tuesday, September 15, 2026). Missing the due date today can
NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITAT
Read more at:https://economictimes.indiatimes.com/wealth/tax/nri-woman-declared-rs-43796-income-in-itr-but-didnt-report-rs-14-lakh-interest-faced-200-penalty-how-she-got-it-reduced-to-50-in-itat/articleshow/134257310.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/nri-woman-declared-rs-43796-income-in-itr-but-didnt-report-rs-14-lakh-interest-faced-200-penalty-how-she-got-it-reduced-to-50-in-itat/articleshow/134257310.cms A 57-year-old non-resident Indian (NRI) woman declared a total income of just Rs 43,796 while filing her ITR for the assessment
Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reason
Read more at:https://economictimes.indiatimes.com/wealth/tax/student-gets-rs-18-34-lakh-stipend-from-university-and-pays-no-income-tax-gets-notice-from-income-tax-department-she-wins-the-case-in-itat-delhi-for-this-reason/articleshow/134263104.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/student-gets-rs-18-34-lakh-stipend-from-university-and-pays-no-income-tax-gets-notice-from-income-tax-department-she-wins-the-case-in-itat-delhi-for-this-reason/articleshow/134263104.cms When Smt Lata from Rewari, Haryana, got a Rs 18.34 lakh stipend from the Aligarh Muslim University for her PG Medical education and
IBBI proposes tighter checks on personal guarantors, “related” creditors
https://www.financialexpress.com/business/news/ibbi-proposes-tighter-checks-on-personal-guarantors-related-creditors/4338485/?ref=hometop_hp IBBI Proposes Stricter Rules for Personal Guarantor Insolvency to Curb Related-Party Voting and Safeguard Lender Recovery The insolvency regulator is looking to tighten rules
Setty bats for ‘know your agent’ framework as AI enters banking
https://www.financialexpress.com/business/banking-finance-setty-bats-for-know-your-agent-framework-as-ai-enters-banking-4336334 Banks will need to develop a “know your agent” framework covering identity, authentication, customer consent, transaction limits and audit trails as artificial intelligence begins to
Taxable income below Rs 12 lakh: Will you pay zero income tax if this income includes LTCG and STCG for Tax Year 2026-27?
Read more at:https://economictimes.indiatimes.com/wealth/tax/taxable-income-below-rs-12-lakh-will-you-pay-zero-income-tax-if-this-income-includes-ltcg-and-stcg-for-tax-year-2026-27/articleshow/134119480.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst https://economictimes.indiatimes.com/wealth/tax/taxable-income-below-rs-12-lakh-will-you-pay-zero-income-tax-if-this-income-includes-ltcg-and-stcg-for-tax-year-2026-27/articleshow/134119480.cms Incomes that are charged at a special rate, like long term capital gains and short term capital gains from listed equities, aren’t eligible for the