Mumbai ITAT has ruled that six flats spread across three floors can be treated as one residential house for tax…
The ITAT denied a taxpayer’s Rs 2.63 crore exemption under Section 54F after finding that a property gifted to his…
A salaried individual earning Rs 15.85 lakh annually can reduce tax liability to zero under the new tax regime —…
Income tax penalties can go up to 200% depending on under-reporting or misreporting of income, the recent case involving Vijay…
An NRI taxpayer who sold five villas for Rs 5.26 crore secured a Rs 2.80 crore capital gains exemption under…
A vegetable vendor faced a tax addition of Rs 3.53 crore after failing to file an ITR and respond to…
ITR forms for AY 2026-27 are out, but taxpayers can’t file returns yet. Filing is expected to start around June…
Most traditional deductions are no longer available under the new tax regime, the official notification on new Income Tax Rules…
New Income Tax Rules have come into effect from April 1, bringing key changes in exemptions, allowances, and perquisites. While…
With the new financial year now underway, the CBDT has already notified all ITR forms for AY 2026-27. Experts say…
Old income tax laws will continue alongside the new Income-tax Act, 2025 for several years due to pending cases and…
Holding foreign stocks, bank accounts or ESOPs? A small mistake in reporting them in your ITR can lead to a…
Income Tax offices across India will remain open on March 31, 2026—even on Mahavir Jayanti—as the government pushes to wrap…
GoDigit Insurance faces a Rs 384 crore income tax demand for FY24 over IBNR claim disallowances and TDS issues, and…
In a relief for homeowners, the Mumbai ITAT has ruled that multiple floors received under a redevelopment agreement can be…
The new Income-tax Rules, 2026 have clarified when tax officers can estimate a taxpayer’s income, especially in cases involving non-residents…
From April 1, 2026, a new 1% rule may increase your tax liability even on tax-free income, as expenses linked…
With new perquisite rules and higher rebates reshaping tax calculations, choosing between the old and new tax regime is no…