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Income-tax appeals: Govt withdraws nearly 6,000 cases after raising monetary limits; over 17,000 more not filed

Income tax disputes: Appeals below Rs 60 lakh, Rs 2 crore and Rs 5 crore face new rules; over 17,000 cases dropped

The government has raised the tax-effect limits for filing income-tax appeals, leading to thousands of appeals being withdrawn or not…

August 13, 2026 18:02 IST

ESOP buyback payouts cannot be taxed as salary if options were never exercised, rules ITAT

Salary or capital gains? ITAT clarifies tax treatment of ESOP buyback payouts in Flipkart employee’s case

The Bengaluru ITAT has ruled that money received from the buyback of vested but unexercised ESOPs cannot be taxed as…

August 6, 2026 14:24 IST

Rajesh held an active German bank account containing €4,701.34 as of December 31, 2024.

From 4,701 euros in overseas savings to a tax notice: How one NRI saved himself from 30% double taxation?

The tax notice centered around three main reporting requirements triggered by Rajesh’s overseas move to Germany.

July 23, 2026 20:13 IST

Here's why taxpayers should look beyond the Rs 10 lakh myth and understand the situations in which lower cash deposits can also attract the Income Tax Department's attention.

Below Rs 10 lakh in cash deposits? You may still have to explain them to Income Tax Dept

The Rs 10 lakh figure under Rule 114E is only the threshold at which a bank must formally report the…

July 21, 2026 14:16 IST

The review showed that the tax department's automated system caught three separate issues, centered around high-value disclosures and regime alignment problems.

From a Black Money Act notice to Rs 1,65,764 in tax savings: How a Mumbai professional fixed his global portfolios?

The automated tracking systems flagged this as a critical cross-border omission under the Black Money Act, which mandates that all…

July 20, 2026 20:45 IST

Highlights: CJP continues sit-in at Jantar Mantar, protesters regroup despite repeated lathi charge

The Lok Sabha has been adjourned till 12:30 pm. The PM did not mention the CJP protests in his address…

Updated: July 21, 2026 07:29 IST

The reassessment notice must also be issued within the limitation period prescribed under section 149.

Received an income tax reassessment notice? This ITAT ruling shows when you can challenge it

Based on the given case law and the relevant assessment year, before issuing a reassessment notice under section 148, the…

July 17, 2026 18:44 IST

For Assessment Year (AY) 2022-23, the contractor filed the return in ITR-2 instead of ITR-4 because the income tax portal did not allow filing ITR-4 without an audit report where gross receipts exceeded Rs 2 crore.

Taxpayer files ITR-2 instead of ITR-4, reports business income under wrong head; here’s how ITAT deals

Filing the wrong ITR form or reporting income under an incorrect head should not, by itself, automatically alter the real…

July 14, 2026 19:21 IST

The benefit is available mainly to individuals and HUFs, subject to conditions such as not owning more than one residential house on the date of transfer.

Can buying a house in joint names reduce your LTCG tax savings? Here’s what Section 54F says

Merely having a joint home loan should not prejudice the exemption under Section 54F. What is relevant is whether the…

July 14, 2026 14:34 IST

For AY 2026-27 or earlier years, notices, appeals, reassessments and pending proceedings will generally continue to be governed by the Income-tax Act, 1961, including the applicable limitation periods and procedural timelines.

New Income-tax Act 2025: Will your pending income tax case continue under the old law? Explained

The applicable law will depend on the tax year to which the proceedings relate. Where the proceedings pertain to assessment…

July 9, 2026 18:54 IST

As you prepare your ITR for AY 2026-27, it's important to know which AIS entries genuinely increase your tax liability and which ones simply serve as a record of your financial activities.

ITR filing AY 2026-27: 10 transactions that appear in AIS but may not attract any tax

AIS shows many financial transactions, but not all are taxable. Learn about 10 common AIS entries that may not attract…

July 7, 2026 17:56 IST

Managing an active stock portfolio requires keeping your data perfectly aligned with automated tax rules.

One demerger, three portfolio gaps: Why a Mumbai trader received a surprise tax notice?

Received an income tax notice after a company demerger? Learn how a Mumbai trader’s RIL-Jio Financial share split triggered tax…

July 2, 2026 16:53 IST

ITAT Pune relief in Rs 1.28 crore cash deposit case: Why consistency in tax treatment helped a scrap dealer

Scrap dealer deposits Rs 1.28 crore cash, reports Rs 3 lakh income in ITR; faces Rs 44 lakh tax demand, ITAT intervenes

A scrap dealer faced a ₹44 lakh tax demand after the Income Tax Department treated ₹1.28 crore of cash deposits…

June 6, 2026 08:18 IST

Govt scraps long-term capital gains tax for FII investment in G-Secs

India scraps long-term capital gains tax for FII investment in government bonds

The government has scrapped long-term capital gains tax on FII investments in government securities through a new ordinance. The move…

Updated: June 5, 2026 11:29 IST

New Income-tax Act, 2025: What happens to your carried-forward stock and mutual fund losses?

The newly enacted Income-tax Act, 2025 (ITA 2025), is largely intended to simplify and reorganise tax provisions rather than materially…

May 28, 2026 17:40 IST

Old vs new regime switch triggers tax notice for taxpayer

Taxpayer gets tax notice after legally switching tax regime; here’s why

A Bengaluru-based business consultant received an Income Tax Department intimation despite correctly filing his ITR and legally switching from the…

May 28, 2026 13:10 IST

ITR filing season has begun for AY 2026-27

ITR filing AY 2026-27: These common mistakes can delay your income tax refund

Incorrect TDS claims, unverified ITRs, and pending tax demands are among the top reasons for delayed income tax refunds in…

May 19, 2026 17:28 IST

How much cash can you legally keep at home? Income tax rules every taxpayer should know

Rs 10 lakh, Rs 10 crore or unlimited: How much cash can you legally keep at home?

A viral social media post has revived the question many taxpayers ask: how much cash can you legally keep at…

May 12, 2026 19:15 IST

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