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INCOME TAX DEPARTMENT RULES
Sold land for Rs 7.24 crore, paid no tax, received income tax notice; Know how Google Earth photos and revenue records helped taxpayer to win this case in ITAT AhmedabadFamily member sold his 1/3rd share of agricultural land for Rs 7.24 crore, pays no tax, tax dept sent notice, he wins case in ITAT Ahmedaba...- Sold property for Rs 94 lakh despite a stamp value of Rs 1.93 crore, received an income tax notice under Section 50C; ITAT Chennai grants relief for this reasonChennai man sold property for Rs 94 lakh despite Rs 1.93 crore stamp duty value; so tax dept sent notice u/s Section 50C to tax the differe...
- Lower or nil TDS certificates to go fully online soon, rules being framedNew rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon apply online for reduced or nil tax...
- Good news for investors: No income tax on dividends received from REITs and InvITs in this case, Lok Sabha passes the bill; Check the detailsThe Lok Sabha passed a bill amending tax laws on August 6, 2026. This amendment benefits REIT and InvIT investors by exempting dividend inc...
- IRS tax credit could mean up to $8,231 for eligible workers: Who qualifies for the Earned Income Tax Credit, how much you could receive and what you should check before filingThe IRS Earned Income Tax Credit (EITC) can provide significant tax relief to eligible low- and moderate-income workers. For tax year 2025,...
- 6 reasons you may get income tax notice even after meeting July 31 ITR filing deadlineFiling your income tax returns punctually doesn't guarantee immunity from tax department notices. Often, discrepancies arise between report...
- Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains whyRetired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as ta...
- NPS for NRIs: Who can invest, tax benefits, eligibility, withdrawal rules explainedNon-Resident Indians have the opportunity to secure their retirement through investment in the National Pension System (NPS). This program ...
- Can you get income tax notice for making digital payments through UPI, NEFT, RTGS, and IMPS? Know when it can be triggeredDigital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transactions do not match your declared inc...
- Earnings from unexercised ESOP buyback is LTCG, not pay perk: ITATThe Income Tax Appellate Tribunal ruled that vested ESOPs are not taxable as salary until exercised. It held that gains from Flipkart's rep...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- Govt proposes easier compliance for foreign firms using Indian data centresThe Taxation and other laws (Amendment) Bill, 2026, introduced in the Lok Sabha on Tuesday, reduces reporting requirements for foreign comp...
- Filed your ITR? Here's how to check for notices and avoid costly penalties
- Manish Tewari submits adjournment notice in Lok Sabha seeking discussion on new anti-defection law to curb opportunistic mass defectionsCongress MP Manish Tewari sought to suspend parliamentary business for urgent discussion. He proposed a new anti-defection law to curb oppo...
- FM Sitharaman to introduce Taxation and Other Laws (Amendment) Bill as Lok Sabha takes up key financial businessFinance Minister Nirmala Sitharaman will introduce the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha. This legislation s...
- ITR refund 2026: Filed income tax return within July 31, 2026 deadline? Here’s when you may get your tax refundTaxpayers who filed their income tax returns by the July 31 deadline are now awaiting refunds. The Income Tax Department processes refunds ...
- ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claimBuilder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent ...
- Over 5.5 crore ITRs filed for AY27 so farOver 5.5 crore income tax returns have been filed for AY 2026-27. More than 42 lakh returns were filed on July 30 alone. The deadline for f...
- July 31 isn't the ITR deadline for everyone: Who can file income tax returns by August 31, 2026?The income tax return filing deadline for salaried individuals remains July 31, 2026. However, certain taxpayers with business income can f...
- Don't let selling your house trigger a tax notice: Check these rules under Sections 54 and 54FMany taxpayers who purchase or construct a residential house to claim exemption under Sections 54 or 54F are unaware that selling the house...
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