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  1. Business News
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  3. income tax faqs

Income Tax FAQ's

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Taxpayer died, brother won identical land case: Why ITAT still rejected 2,544-day delayed appeal
Same property, same tax dispute: Why one brother won while the other’s appeal was dismissed by ITAT

A taxpayer may have a strong case on merits, but missing the appeal deadline can still prove costly. In a…

August 21, 2026 15:58 IST
Income Tax Department, FAST-DS, foreign assets disclosure, voluntary scheme, undisclosed income, tax payment, CBDT, tax immunity, Finance Act 2026, tax return compliance
FAST-DS Scheme explained: Who can declare undisclosed foreign assets and how much tax will they pay?

The Income Tax Department launches the FAST-DS scheme for small taxpayers to voluntarily disclose undisclosed foreign assets and income by…

Updated: August 15, 2026 16:39 IST
A genuine income tax notice is an official communication issued by the Income Tax Department in connection with your return, assessment, refund, demand, or other tax matter.
Income tax notice or scam? Here’s how to check the difference before you reply

If the notice is real, read it carefully and respond within the deadline using the official channel. If you suspect…

July 22, 2026 21:12 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
Form 15G, Form 15H, Form 121, Form 121 how to fill, tax liability, declaration of income, no TDS
No more Form 15G or 15H: 10 things to know about Form 121 if your tax liability is nil

Quoting of PAN is mandatory for submitting the declaration in Part A of Form No. 121 by the declarant.

April 20, 2026 13:15 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
10 income tax rule changes coming from April 1, 2026
New income tax rules from April 1, 2026: 10 major changes every taxpayer should know

From April 1, 2026, new Income-tax Rules will change how salary perks, employer housing, car benefits, loans and gifts are…

March 16, 2026 19:51 IST
Income Tax Refund scam alert: Fake refund message costs taxpayer Rs 1.5 lakh — Here's how you can stay safe
Income Tax Refund scam alert: Fake refund message costs taxpayer Rs 1.5 lakh — Here’s how you can stay safe

Amid growing concerns over income tax refund delays, scammers are targeting anxious taxpayers with fake “pending refund” messages. After one…

February 22, 2026 09:02 IST
Cash gifts from family, relatives not exempt from income tax if you fail to explain these details, says ITAT
Cash gifts from family, relatives not exempt from income tax if you fail to explain these details, says ITAT

A recent ITAT ruling has shown that even tax-free gifts from relatives can become taxable if proper donor details are…

February 22, 2026 07:41 IST
New Income Tax Rules 2026 India, Income Tax Act 2025 new rules, income tax changes April 1 2026, new tax year India tax system change, financial year vs tax year India explained, new income tax law India salaried employees, income tax rules March notification India, latest income tax updates India 2026, tax changes for salaried employees India, employer perks taxation India new rules, salary perks tax rules India 2026, gift voucher tax limit Rs 15000 India, employer reimbursement tax rules India, rent-free accommodation tax India rules, company car perquisite tax India, employer-paid expenses tax treatment India, medical reimbursement tax exemption India, serious illness tax relief India medical benefits, capital gains new rules India 2026, holding period capital gains India changes, fair market value shares tax India new rules, unlisted shares taxation India rules, non-resident income tax India new rules, digital income taxation non residents India, income tax compliance changes India 2026, tax planning new income tax rules India, documentation for tax reimbursement India, income tax rules for pensioners India 2026, income tax changes for investors India, what taxpayers should do before April 1 India
New income tax rules likely to be notified in March before April 1 rollout: Key changes taxpayers should know

While the new Income-tax Act, 2025 has already been passed, these rules are crucial because they explain how the law…

February 9, 2026 20:45 IST
foreign, monetary policy, indian trade, HRA exemption, House Rent Allowance, tax relief, salaried employees, metro cities, Bengaluru Hyderabad Pune Ahmedabad, government proposal, old tax regime, hra, HRA exemption new rules 2026, House Rent Allowance exemption India, HRA 50 percent cities India, HRA Bengaluru Hyderabad Pune Ahmedabad, Draft Income Tax Rules 2026 HRA, HRA old tax regime India, Section 10(13A) HRA rules, HRA exemption eligibility India, HRA metro cities list India, HRA tax relief salaried employees India, new HRA rules for salaried employees, old vs new tax regime HRA India, tax benefits for salaried employees 2026, HRA calculation India metro vs non metro, HRA tax saving tips India, rent tax deduction India HRA, government HRA proposal India news, HRA exemption high rent cities India, income tax changes for salaried class India, tax relief Bengaluru Hyderabad Pune employees, HRA exemption metro expansion India, housing rent tax benefit India, salary tax savings old regime India, income tax draft rules 2026 India, HRA policy update India
Bengaluru and Hyderabad among cities that may get 50% HRA exemption – New Income Tax draft rules explained

At present, taxpayers residing in Mumbai, Delhi, Kolkata and Chennai can claim HRA exemption of up to 50% of their…

February 9, 2026 19:42 IST
Budget 2026 hides major tax rule changes: What Income Tax FAQs reveal before April 1 rollout
New penalties, revised ITR window among 15 major tax rule changes from April 1

Post-Budget FAQs issued by the Income Tax Department reveal some important but lesser-noticed tax changes announced in Budget 2026. These…

Updated: February 4, 2026 09:16 IST
Budget 2026 Income Tax Changes: ITR Filing Deadline Now Depends on ITR Form
ITR filing deadline changed: Your ITR form now decides when you must file returns

Budget 2026 has changed how ITR deadlines work. Filing dates will now depend on the ITR form used. While salaried…

February 2, 2026 09:39 IST
Budget 2026 Tax Expectations Live Updates: Salaried, middle-class taxpayers pin big hopes
Budget 2026 Income Tax Expectations Highlights: Rs 1 lakh Standard Deduction, home loan relief, LTCG tweaks and senior citizen benefits in focus

Income Tax Slabs Expectation Budget 2026: Union Budget 2026–27 is expected to keep income tax reforms in focus as FM…

Updated: January 31, 2026 21:20 IST
Union Budget 2026–27 income tax expectations live updates on slabs, deductions and taxpayer relief
Budget 2026 Income Tax Expectations Highlights: Tax refunds delayed; 50 lakh income tax returns yet to be processed – will budget fix problem?

Income Tax Slabs Expectation Budget 2026: Union Budget 2026–27 is expected to keep income tax reforms in focus as FM…

Updated: January 28, 2026 07:19 IST
New tax regime slabs to change again? What taxpayers should realistically expect in Budget 2026
New tax regime slabs to change again? What taxpayers should realistically expect in Budget 2026

As Budget 2026-27 approaches, taxpayers are keenly watching whether the government will once again tweak income tax slabs under the…

January 20, 2026 18:39 IST
Tax Year vs Assessment Year: How the new income tax law changes ITR filing from 2026
‘Tax Year’ replacing ‘Assessment Year’ in new income tax law: How it will impact taxpayers

From April 1, 2026, the new Income-tax law will replace ‘Assessment Year’ with ‘Tax Year’ to simplify tax filing and…

January 19, 2026 13:42 IST
Money sent by NRI children to parents: Tax-free gift or taxable income?
What are tax implications if an NRI son transfers money from abroad to his parents in India?

NRI son’s tax dilemma: I am an NRI living in the UK and regularly send money to my parents in…

January 17, 2026 16:11 IST
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Iran used Claude AI to target US Navy warships? Here’s what Anthropic’s threat report says
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Anthropic’s threat intelligence report uncovered disturbing cases of its AI models being used to create biological weapons and engage in cyber espionage. The departure of a key AI researcher and rising concerns about AI safety add to the urgency for safeguards. The report also revealed Iran’s use of Anthropic’s AI for targeting US Navy ships and China’s alleged use of AI for surveillance.

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