Which ITR form should I file as I am a homemaker who has Rs 98,000 dividend income and paid Rs 4000 TDS?ET Wealth Reader's Query: I am 43, a homemaker, with mutual fund investments of Rs 35 lakh and stock investments of Rs 50 lakh, mostly inve...
28 Jul, 2026, 12.13 PM IST
Employee wrongly declared Rs 14 lakh Australian salary in Indian ITR: ITAT grants tax relief but denies Rs 3.4 lakh foreign tax creditEmployee mistakenly declared Rs 14 lakh Australia salary in Indian ITR, later sought Rs 3.4 lakh foreign tax credit in India for tax paid i...
28 Jul, 2026, 11.23 AM IST
Number of billionaires grows 4-fold in five years to 576 in AY'26: Income tax return dataFive hundred seventy-six individuals reported over Rs 100 crore income in 2025-26. This figure shows a fourfold increase from the previous ...
27 Jul, 2026, 05.33 PM IST
Save income tax when filing ITR for AY 2026-2027 by claiming Section 54 or 54F benefits if you sold land, house property or equity shares; Know howIndian taxpayers can claim capital gains tax exemptions by reinvesting sale proceeds. Section 54 and 54F allow exemptions for residential p...
27 Jul, 2026, 03.06 PM IST
Rs 17.41 lakh penalty for ITR filing mistake: CA firm's owner's affidavit helps taxpayer get relief in ITAT Mumbai; know howRs 17.41 lakh penalty imposed due to error in ITR filed by junior staff in CA firm; Here's how affidavit from the CA firm's owner helps tax...
27 Jul, 2026, 02.34 PM IST
In the 1960s, a zoologist fought a canal designed to cut Florida in half; its 110-mile route became a 70,000-acre greenwayA proposed canal across Florida faced significant opposition from scientist Marjorie Harris Carr. Her organized efforts and legal challenge...
25 Jul, 2026, 06.18 PM IST
Finance minister Nirmala Sitharaman asks I-T officials to ease burden on honest taxpayersFinance Minister Nirmala Sitharaman urged tax officials to ensure taxpayer convenience. She stressed firm action against tax evasion and ec...
24 Jul, 2026, 09.34 PM IST
China to tax offshore trusts as Beijing targets overseas wealthChina's new tax regulations taking effect on Friday will impose taxes on offshore trusts and their associated incomes. A twenty percent tax...
24 Jul, 2026, 03.23 PM IST
Opting for presumptive taxation while filing ITR? You may have to face tax audit; here’s what you must knowPresumptive taxation simplifies income computation for eligible taxpayers. However, a tax audit may be required if actual income falls belo...
24 Jul, 2026, 12.25 PM IST
Brisk processing for AY27: Nudge helps, 33.5m ITRs filed so farIndia's income-tax department has received over thirty-three million income-tax returns for assessment year 2026-27. Nearly twenty million ...
24 Jul, 2026, 12.58 AM IST
ITR filing: Received Section 143(1) intimation with tax demand? Respond within 30 days or risk being treated as an ‘assessee in default’; know how to do itTaxpayers must respond to Section 143(1) intimations with tax demands promptly. Failure to respond within thirty days can lead to penalties...
23 Jul, 2026, 12.54 PM IST
Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT BangaloreFiled revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's de...
22 Jul, 2026, 02.33 PM IST
Foreign income taxation: Employees, investors, freelancers check these aspects to prevent double taxation on same foreign income while filing ITR for AY 2026-2027Indian taxpayers earning global income face potential double taxation concerns. India's tax treaties offer relief through credits or exclus...
22 Jul, 2026, 10.26 AM IST
ESOPs, Crypto and two other disclosures you must make in Schedule FA of the ITR for AY 2026-2027Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosures for foreign shares and overseas ...
21 Jul, 2026, 05.11 PM IST
INR exchange rate while filing ITR to report foreign assets: Use this reference rate to convert foreign currency into INR as prescribed under income tax rulesIndian taxpayers must report foreign assets in their Income Tax Returns for AY 2026-27. Foreign currency amounts require conversion to Indi...
21 Jul, 2026, 03.48 PM IST
7 big income tax changes for 2026-27 that may reduce penalties for small mistakesNew income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from Octo...
20 Jul, 2026, 11.57 AM IST
ITR-4 or ITR-3? Know which ITR form to file under presumptive taxation scheme and the documents requiredTaxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individual...
20 Jul, 2026, 11.23 AM IST