Man buys Rs 53 lakh property, registers in wife’s name; tax department raises Rs 42 lakh demand – ITAT says this
ITR filing AY 2026-27: How to disclose dividend income and bonus shares in your tax return? Investors should report the same transaction dates, quantities, sale value, and holding period that appear in their actual records, rather… June 10, 2026 07:57 IST
ITR filing 2026: How HRA, LTA, and other salary perks can help employees save up to Rs 2 lakh in tax? Failure to provide proper documents to the employer results in a higher deduction of tax, and claim of HRA not… June 9, 2026 20:10 IST
No tax relief despite income below Rs 12 lakh? Here’s why some taxpayers still pay tax While the new tax regime provides rebate benefits effectively resulting in nil tax liability for resident individuals having taxable income… June 9, 2026 17:06 IST
Senior citizens’ tax planning: Which regime works best for Rs 15 lakh, Rs 20 lakh, and Rs 25 lakh annual income? Across the Rs 15 to 25 lakh income range, the New Tax Regime (NTR) emerges as a suitable option for… June 8, 2026 18:23 IST
ITR scrutiny rules changed? Here’s who can face mandatory income tax scrutiny in FY 2026-27 The CBDT has issued fresh guidelines for compulsory scrutiny of Income Tax Returns (ITRs) in FY 2026-27. The new norms… June 8, 2026 17:52 IST
ITR e-Verification after return filing: Check all the options available to taxpayers The taxpayer must be a registered user on the e-Filing portal with a valid user ID and password Must have… June 8, 2026 14:14 IST
ITR filing deadline AY 2026-27: What is the last date to file the income tax return and avoid penalties? As of now, there is no CBDT notification extending the AY 2026-27 filing deadline for individual taxpayers. Therefore, taxpayers should… June 7, 2026 18:03 IST
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
Which ITR form is right for senior citizens when filing their income tax return? Choosing an incorrect form may render the return defective and could potentially lead to delays, notices, or compliance-related concerns, so… June 4, 2026 18:58 IST
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: 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
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
ITR Filing 2026: 10 AIS and bank statement mismatches that could trigger an income tax notice Taxpayers should verify that the interest credited to their savings bank accounts during the financial year matches the amount reflected… June 3, 2026 19:44 IST
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, 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 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
New Income-tax Act, 2025: What happens to your carried-forward stock and mutual fund losses? The newly enacted Income-tax Act, 2025 (ITA 2025), is largely intended to simplify and reorganise tax provisions rather than materially… May 28, 2026 17:40 IST
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
