Page 2 of Taxation News: Taxation Latest News, Taxation Today news, Taxation Breaking News

Got 23 flats under a redevelopment deal, received an ₹8 crore tax demand; ITAT says this

Man gets 23 flats from builder, seeks tax exemption on all units after Rs 8 crore LTCG demand; ITAT says this

The Bengaluru ITAT has ruled that although a Joint Development Agreement triggered capital gains tax when possession of land was…

July 7, 2026 14:53 IST

Business loses Rs 2.69 crore in NSEL crisis, writes it off as bad debt; tax department objects, ITAT says this

Trader suffers Rs 2.69 crore business loss, writes it off in books; Income Tax Dept rejects claim, ITAT says this

The Ahmedabad ITAT has ruled that a taxpayer can claim a bad debt deduction even if recovery proceedings are still…

July 3, 2026 19:57 IST

Man deposits Rs 12 lakh belonging to relatives in his bank account; I-T dept raises steep tax demand, ITAT steps in

The Income Tax Appellate Tribunal (ITAT), Bangalore, has ruled that cash deposits made during the 2016 demonetisation period cannot automatically…

June 30, 2026 20:51 IST

Cash deposit, UPI, RTGS or NEFT: Which bank transactions can trigger an Income Tax notice?

Which bank transactions can attract an Income Tax notice? Check SFT reporting limits for cash deposits, UPI, RTGS, NEFT, property…

June 30, 2026 15:44 IST

Man buys Rs 50 lakh property, gets Rs 25 lakh tax demand from I-T Dept; here's why ITAT gave him relief

Man buys Rs 50 lakh property, gets Rs 25 lakh tax demand from I-T Dept; here’s how ITAT gives him relief

Can the Income Tax Department make a tax addition simply because your name appears in a builder’s Excel sheet? In…

June 27, 2026 12:27 IST

TDS deducted but not deposited by employer? ITAT explains who is really responsible

Woman shows Rs 18 lakh salary in ITR, receives Rs 3.12 lakh tax demand due to employer’s TDS default; ITAT steps in

Can the Income Tax Department ask you to pay tax again even after your employer has already deducted TDS from…

June 25, 2026 17:39 IST

Employer deducted TDS, yet you received an Income Tax notice? Here's why

Salary was your only income, yet you received an Income Tax notice? Here’s why

Think your tax worries end once your employer deducts TDS? Not always. Even salaried taxpayers whose only source of income…

June 23, 2026 17:55 IST

Pensioner claimed tax exemption on Rs 19 lakh leave encashment, tax dept allowed only Rs 3 lakh; ITAT grants relief

PSU employee gets Rs 19 lakh leave encashment, faces income tax demand on Rs 16 lakh – ITAT ruling say this

A retired ONGC employee has won relief from the Income Tax Appellate Tribunal (ITAT) after the tax department restricted his…

June 23, 2026 07:00 IST

Taxpayer shows Rs 6 lakh income in ITR, gives Rs 5 lakh cash loan; Income Tax Dept raises demand, ITAT intervenes

Taxpayer shows Rs 6 lakh income in ITR, gives Rs 5 lakh cash loan; gets steep tax demand, ITAT intervenes

A Mumbai taxpayer accused of giving a Rs 5 lakh cash loan won a complete victory at the ITAT after…

Updated: June 19, 2026 07:21 IST

Traded in F&O during FY26? New ITR-3 columns can land you in trouble if left blank

Traded in Futures and Options during FY26? Missing these new ITR-3 details could be costly

If you traded in Futures & Options (F&O) during FY26, pay attention before filing your ITR. The revised ITR-3 form…

June 17, 2026 14:30 IST

Can NRIs avoid tax on Indian mutual fund gains? ITAT ruling explains when treaty relief applies

NRI makes Rs 1.35 crore gains from mutual funds in India, pays zero tax: Tax dept rejects exemption, ITAT says this

A Singapore-based NRI won a tax dispute over Rs 1.35 crore of gains from Indian mutual funds after the Mumbai…

June 15, 2026 13:00 IST

How New Tax Regime changed the fortunes of India’s tax-saving mutual funds

ELSS funds were once the default tax-saving investment for salaried Indians. But as taxpayers migrate to the new tax regime,…

June 12, 2026 19:09 IST

Capital gains tax: Why indexation failed to match a 3-year rise in property prices

Woman earns Rs 62 lakh profit from selling a flat; how skipping indexation lowers her capital gains tax

A Hyderabad woman who sold her apartment for Rs 1.42 crore after buying it for Rs 80 lakh expected indexation…

June 11, 2026 17:16 IST

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

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

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

Rs 4,000 crypto profit, Rs 47 lakh tax notice: Why a Bengaluru trader was flagged

Rs 4,000 crypto profit, Rs 47 lakh tax notice: How a Bengaluru man’s crypto trades triggered tax scrutiny

A Bengaluru crypto trader who earned just Rs 4,150 in profit received a tax notice over transactions worth Rs 47.4…

June 4, 2026 16:44 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

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