Income tax department News: Income tax department Latest News, Income tax department Today news, Income tax department Breaking News

Man buys Rs 53 lakh property, registers in wife’s name; tax department raises Rs 42 lakh demand – ITAT says this

A Mumbai ITAT ruling has provided relief to a taxpayer whose name appeared in a property purchase agreement even though…

June 10, 2026 15:07 IST

Why filing income tax return is about more than taxes

Your ITR is not just a tax document: 5 ways it can help your finances

Many taxpayers think filing an ITR is necessary only when taxes are payable. Experts say that is a costly misconception.…

June 4, 2026 18:28 IST

Made a donation? Here's how much tax deduction you can actually claim under Section 80G

ITR filing 2026: Not all donations 100% tax exempt under old regime; here’s what taxpayers need to know

Many taxpayers assume every donation qualifies for a 100% tax deduction, but that’s not the case. Under Section 80G, donations…

June 4, 2026 14:36 IST

Joint property, single payer: Can both husband and wife claim LTCG tax benefits on sale?

ITR Filing AY 2026-27: Can both husband and wife save LTCG tax on a jointly owned property?

Many couples buy homes in joint names, but often only one spouse pays the purchase cost. When the property is…

June 3, 2026 14:06 IST

Man owns 5 flats in Mumbai, all vacant; still got Rs 7.5 lakh tax demand - here's how ITAT rules

Man owns 5 flats in Mumbai, earns zero rent; still gets a Rs 7.5 lakh tax demand — here’s what ITAT says

A Mumbai taxpayer was taxed on Rs 7.43 lakh of deemed rent despite earning no rental income from five vacant…

June 2, 2026 16:58 IST

Man declares Rs 6.3 lakh income, pays Rs 27.65 lakh in credit card bills; gets tax notice - ITAT ruling says this

Man reports Rs 6.3 lakh income, pays Rs 27.65 lakh in credit card bills; gets tax notice – ITAT ruling says this

A Mumbai taxpayer who declared income of just Rs 6.3 lakh came under the tax scanner after paying credit card…

May 30, 2026 11:54 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

Bitcoin tax case: ITAT quashes Rs 88 lakh reassessment against Lucknow taxpayer

Man invests Rs 9.6 lakh in crypto, books over Rs 3 lakh loss; gets Rs 88 lakh tax demand – ITAT intervenes

A Lucknow taxpayer who claimed to have invested only Rs 9.6 lakh in Bitcoin but reported a loss landed in…

Updated: May 30, 2026 06:43 IST

This legal tax break can turn your property sale gains tax-free, but most miss it

Sold a house and made profit? This hidden tax break can bring your capital gains tax to zero

Selling a house does not always mean paying capital gains tax. Under Section 54 of the Income Tax Act, eligible…

Updated: May 22, 2026 16:06 IST

Income Tax Dept slapped man with Rs 51.2 lakh penalty over Form 16-based ITR; ITAT steps in

Employee files ITR using Form 16, gets Rs 51.2 lakh tax penalty; ITAT ruling offers key lessons for taxpayers

An IT employee who claimed an income tax exemption based on his employer-issued Form 16 was slapped with a Rs…

May 18, 2026 17:54 IST

Income tax treats loan entries as unexplained income - This taxpayer’s case offers an important lesson

Woman faces tax demand over unsecured loans as transactions flagged as suspicious—what helped her fight back

A search-led tax case involving Ahmedabad real estate-linked taxpayer Dimple Robin Goenka has thrown light on how unexplained cash credit…

Updated: May 15, 2026 12:38 IST

Your Form 16 may be correct, but you could still face a tax demand — here’s why

Got a tax demand even though your Form 16 matched your ITR? A real case shows how missing a mandatory…

May 14, 2026 15:47 IST

India denies temple gold monetisation rumours, calls viral claims ‘false and baseless’

Rs 1 crore gold seized from taxpayer during search with no purchase bills — can it be taxed? ITAT ruling explains

Gold found in an Income Tax search isn’t always taxable. A recent ITAT ruling shows how CBDT’s jewellery limits can…

April 29, 2026 19:11 IST

How an NRI saved Rs 12.5 lakh in TDS using Form 128 on property sale - Details here

NRI sells Rs 1 crore property, saves Rs 12.5 lakh TDS legally — how this form cut his tax to zero

An NRI avoided a Rs 12.5 lakh TDS deduction on a Rs 1 crore property sale by using a simple…

April 28, 2026 18:02 IST

Man pays ₹11.83 lakh credit card dues, faces tax addition—ITAT steps in

Man pays Rs 11.83 lakh credit card bill, faces tax addition on entire amount as I-T dept flags it as income — ITAT steps in

Credit card payments flagged in Statement of Financial Transactions (SFT) / Annual Information Return (AIR) data can lead to tax…

April 27, 2026 17:55 IST

ITR filing not required: Income Tax Act 2025 allows these taxpayers to use Form 125 — check eligibility

Senior citizens aged 75+ with only pension and interest income can now avoid filing ITR using Form No. 125 under…

April 27, 2026 13:26 IST

Kept cash at home, deposited later — tax dept flags it, ITAT steps in

Woman keeps Rs 15 lakh cash withdrawn from bank at home, deposits it later — faces tax trouble, ITAT intervenes

A taxpayer’s cash deposit raised red flags after the tax department questioned its source and labelled it unexplained income. The…

April 24, 2026 14:11 IST

Struggling with digital tax system? Taxpayers may ask for relief from I-T dept - ITAT ruling clarifies

Big relief for taxpayers: Lack of digital knowledge valid reason for missing deadlines, says ITAT

ITAT Jaipur has condoned a 631-day delay in filing an appeal, citing lack of digital literacy, and restored the case…

April 21, 2026 18:20 IST

income tax department

Related News

Trending Topics