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income tax department

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Sold shares, bought 6 flats: ITAT grants tax relief on ₹40 crore gains
Man sells shares, invests Rs 40 crore capital gains to buy 6 luxury flats; tax exemption on gains denied – ITAT still gives relief

Mumbai ITAT has ruled that six flats spread across three floors can be treated as one residential house for tax…

Updated: April 17, 2026 12:30 IST
Gift to father just before property sale? ITAT denies Section 54F tax exemption
Man gifts a house to father; Income Tax Dept questions ‘timing and intent’ – ITAT flags these lapses

The ITAT denied a taxpayer’s Rs 2.63 crore exemption under Section 54F after finding that a property gifted to his…

April 16, 2026 13:38 IST
Rs 15.85 lakh annual salary, Rs 0 tax? Here's how new tax regime makes it possible
Rs 15.85 lakh annual salary, Rs 0 tax? Here’s how new tax regime makes it possible

A salaried individual earning Rs 15.85 lakh annually can reduce tax liability to zero under the new tax regime —…

April 14, 2026 19:18 IST
Actor Vijay paid Rs 1.5 crore penalty on Rs 15 crore cash found at home; I-T rules allow up to 200% — why just 10%?
Actor Vijay paid Rs 1.5 crore penalty on Rs 15 crore cash found at home; I-T rules allow up to 200% — why just 10%?

Income tax penalties can go up to 200% depending on under-reporting or misreporting of income, the recent case involving Vijay…

April 14, 2026 17:03 IST
No property in your name, yet tax exemption? ITAT gives big relief
Taxpayer sells 5 villas and reinvests in a property in sister’s name — still gets capital gains tax relief; here’s how

An NRI taxpayer who sold five villas for Rs 5.26 crore secured a Rs 2.80 crore capital gains exemption under…

April 9, 2026 17:43 IST
ITAT flags flaw in cash deposit cases: Can tax dept treat deposits and withdrawals both as income?
Vegetable vendor’s Rs 2.96 crore withdrawals, Rs 45 lakh deposits under tax dept radar after no ITR; ITAT steps in

A vegetable vendor faced a tax addition of Rs 3.53 crore after failing to file an ITR and respond to…

April 5, 2026 18:57 IST
ITR forms out but return filing for AY 2026-27 unlikely before June - know why
ITR forms out for FY 2025-26: When will e-filing start on income tax portal?

ITR forms for AY 2026-27 are out, but taxpayers can’t file returns yet. Filing is expected to start around June…

April 1, 2026 17:51 IST
New Income Tax Rules 2026: No big deductions under new regime, but these benefits can still help
New Income Tax Rules 2026: 7 lesser-known benefits in new tax regime that can help you save more tax

Most traditional deductions are no longer available under the new tax regime, the official notification on new Income Tax Rules…

April 1, 2026 15:57 IST
New Income Tax Rules kick in April 1: Old vs new tax regime—Who gains more?
New Income Tax rules kick in: Old vs new regime — What changes in deductions, exemptions and rebates for taxpayers?

New Income Tax Rules have come into effect from April 1, bringing key changes in exemptions, allowances, and perquisites. While…

April 1, 2026 07:15 IST
ITR forms for AY 2026-27 notified: New disclosures may catch salaried, NRIs off guard — check what's changed
ITR forms for AY 2026-27 notified: New disclosures may surprise salaried taxpayers – check what’s changed

With the new financial year now underway, the CBDT has already notified all ITR forms for AY 2026-27. Experts say…

Updated: April 1, 2026 09:11 IST
Old income tax law won't end in 2026
Old income tax laws to stay alongside new rules — here’s why they won’t go away soon

Old income tax laws will continue alongside the new Income-tax Act, 2025 for several years due to pending cases and…

Updated: April 1, 2026 08:55 IST
Have foreign stocks or accounts? One mistake in ITR can cost you Rs 10 lakh
Have foreign stocks or accounts? One mistake in ITR can cost you Rs 10 lakh

Holding foreign stocks, bank accounts or ESOPs? A small mistake in reporting them in your ITR can lead to a…

March 30, 2026 13:35 IST
Income Tax deadline pressure? Why March 31 won’t be a holiday for tax offices
Income tax offices to stay open on March 31 despite holiday – here’s why

Income Tax offices across India will remain open on March 31, 2026—even on Mahavir Jayanti—as the government pushes to wrap…

March 27, 2026 17:55 IST
Insurance company GoDigit has received Rs 384 crore tax demand notice
Why did this company get a Rs 384 crore income tax notice despite just Rs 140 crore Q3 profit?

GoDigit Insurance faces a Rs 384 crore income tax demand for FY24 over IBNR claim disallowances and TDS issues, and…

Updated: March 27, 2026 19:14 IST
Big relief for homeowners: ITAT allows full capital gains exemption in redevelopment case
Woman gets multiple flats and Rs 2.5 crore from builder in old property redevelopment deal – what tax dept says

In a relief for homeowners, the Mumbai ITAT has ruled that multiple floors received under a redevelopment agreement can be…

March 27, 2026 13:52 IST
Big power shift: Tax officer can now estimate your income in certain cases
Ignore ITR or notices? Income tax department may now estimate your income under new rules

The new Income-tax Rules, 2026 have clarified when tax officers can estimate a taxpayer’s income, especially in cases involving non-residents…

March 27, 2026 12:19 IST
Tax-free income may still increase your tax: 1% rule explained
From April 1, tax-free income may still raise your tax bill – here’s why

From April 1, 2026, a new 1% rule may increase your tax liability even on tax-free income, as expenses linked…

March 26, 2026 15:56 IST
Old vs New Tax Regime in 2026: New rules change calculations — which saves more tax for you?
Old vs New Tax Regime in 2026: New rules change calculations — which option saves more now?

With new perquisite rules and higher rebates reshaping tax calculations, choosing between the old and new tax regime is no…

March 26, 2026 13:02 IST
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Centre approves ₹24,815 crore multitracking projects in Uttar Pradesh and Andhra Pradesh
Centre approves ₹24,815 crore multitracking projects in Uttar Pradesh and Andhra Pradesh
Railways33 min ago

The Union Cabinet has given the go-ahead for two railway projects in Uttar Pradesh and Andhra Pradesh, covering 601 km of new route length. These projects will ease congestion, enhance connectivity for passengers and freight, and are set to be finished by 2030-31. The total investment for both projects is approximately ₹24,815 crore.

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  • Noida workers’ protest ‘mastermind’ unmasked: Who is NIT Engineer Aditya Anand, nabbed by UP STF at Tiruchirappalli railway station?
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