ICAI Requests Clarification on GST Appeal Jurisdiction
Clipped from: https://taxguru.in/goods-and-service-tax/icai-requests-clarification-on-gst-appeal-jurisdiction.html This letter from the Institute of Chartered Accountants of India (ICAI) to the Central Board of Indirect Taxes & Customs (CBIC) outlines concerns
ICAI: Suggestions To Enhance Efficacy of GST Adjudication
Clipped from: https://taxguru.in/goods-and-service-tax/icai-suggestions-enhance-efficacy-gst-adjudication.html The Institute of Chartered Accountants of India (ICAI) has identified several issues in the GST adjudication process. These include the last-minute issuance of
ICAI’s Suggestions on Practical Issues in GST
Clipped from: https://taxguru.in/goods-and-service-tax/icais-suggestions-practical-issues-gst.html The Institute of Chartered Accountants of India (ICAI), a statutory body established by an Act of Parliament, has identified and proposed solutions for
Transferring to wife’s account = Tax savings or trap? The taxman may still bill you – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/transferring-to-wifes-account-tax-savings-or-trap-the-taxman-may-still-bill-you-494263-2025-09-16 “Can I transfer money to my wife’s account and save tax?” is a question many taxpayers ask. At first glance, it looks like
Post ITR filing guide: What taxpayers should do after September 16 deadline – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-2025-refund-e-verification-belated-filing-penalties-494281-2025-09-16 After completing your tax payment for ITR 2025, it’s important to confirm that the transaction was successful. The e-filing portal provides a Challan
ITAT Delhi Quashes Assessments Due to Invalid Section 153D Approval
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashes-assessments-due-invalid-section-153d-approval.html Dheeraj Chaudhary Vs ACIT (ITAT Delhi) Split Bench, But Majority Wins: ITAT Delhi Quashes 153A Assessments– Omnibus 153D Approval Found Mechanical- Safeguard, Not
Madras HC Nixes Reassessment: Change of Opinion Cannot Justify Reopening
Clipped from: https://taxguru.in/income-tax/madras-hc-nixes-reassessment-change-opinion-justify-reopening.html PCIT Vs Ramanathan Adaikalavan (Madras High Court) The Madras High Court dismissed the appeal of the Revenue & upheld the ITAT’s order quashing
House property received by an individual as a gift is taxable in these situations – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/house-property-received-by-an-individual-as-a-gift-is-taxable-in-these-situations/articleshow/123893168.cms ET OnlineHouse property received by an individual as a gift is taxable in these conditions (representative image) When a parent gifts their property
*******Property and assets gifted to son’s wife: Will the income from it be clubbed to your income for tax purposes? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/property-and-assets-gifted-to-sons-wife-will-the-income-from-it-be-clubbed-to-your-income-for-tax-purposes/articleshow/123878630.cms Clubbing of income refers to a situation when you get taxed on someone else’s income. For example, a wife’s income gets combined with her husband’s
*New tax regime isn’t zero deduction: here are 10 ways to legally cut your tax bill – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-tax-regime-isnt-zero-deduction-here-are-10-ways-to-legally-cut-your-tax-bill-493927-2025-09-14 Equity investors should take note: long-term capital gains (LTCG) on shares and equity mutual funds are taxed at 12.5% for gains exceeding ₹1.25
P Chidambaram writes: Time for an apology | The Indian Express
Clipped from: https://indianexpress.com/article/opinion/columns/p-chidambaram-writes-time-for-an-apology-10248428/?ref=opinion_hp In the first part-year (July 2017 to March 2018), the government collected about Rs 11 lakh crore. In 2024-25, it collected about Rs
*ITR deadline extension not coming? What late filers could lose this year – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-deadline-extension-not-coming-what-late-filers-could-lose-this-year-493913-2025-09-14 One major hit that often goes unnoticed is the loss of carry-forward benefits. If you’ve suffered business or capital losses in FY25 and
*******₹60,000 gone? CA breaks down what’s changing in housing under new tax regime – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/rs60000-gone-ca-breaks-down-whats-changing-in-housing-under-new-tax-regime-493912-2025-09-14 For taxpayers with two or more houses, any additional property is considered “deemed to be let out” — and is taxed based on
*******Even if you made zero capital gains income from sale of property you still need to pay tax in this situation; CA explains why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/even-if-you-made-zero-capital-gains-income-from-sale-of-property-you-still-need-to-pay-tax-in-this-situation-ca-explains-why/articleshow/123871304.cms Pay income tax even if you made no effective capital gains on such a sale; Know why Sujit Bangar, a former IRS officer
Last three days left for ITR filing; Step-by-step guide on how to file ITR 1, 2 for free on e-filing ITR portal – The Economic Times
lipped from: https://economictimes.indiatimes.com/wealth/tax/last-three-days-left-for-itr-filing-step-by-step-guide-on-how-to-file-itr-1-2-for-free-on-e-filing-itr-portal/articleshow/123869252.cms Last few days left for ITR filing; Step-by-step on how to file ITR 1, 2 for free on the e-filing ITR portal The
*******Capital gains: Latest LTCG and STCG rates and holding periods for various assets for AY 2025-26 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/capital-gains-latest-ltcg-and-stcg-rates-and-holding-periods-for-various-assets-for-ay-2025-26/articleshow/123827541.cms Latest tax rate and holding period for various assets for LTCG and STCG for AY 2025-26 The capital gains income taxation has seen
*******He got Rs 89 lakh as gift from relatives; Tax dept doubted its genuineness, but ITAT Mumbai ruled in his favour: Here’s why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/he-got-rs-89-lakh-as-gift-from-relatives-tax-dept-doubted-its-genuineness-but-itat-mumbai-ruled-in-his-favour-heres-why/articleshow/123845428.cms When Mr. Manwani filed his income tax return (ITR) for AY 2018-19 by declaring an income of Rs 98 lakh, he was issued a tax notice. The
*Wife pays no income tax after selling two houses for Rs 6 crore gifted by her husband, wins case in ITAT Mumbai; here’s how it happened – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/wife-pays-no-income-tax-after-selling-2-houses-for-rs-6-crore-gifted-by-her-husband-wins-case-in-itat-mumbai-heres-how-it-happened/articleshow/122905982.cms No income tax for wife who sold two flats for Rs 6 crore (5.98) bought originally by husband for Rs 51 lakh total,
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