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INCOME TAX RATES
Reporting perquisite as capital gain in ITR by mistake resulted in Rs 6.63 crore penalty for a salaried employee; ITAT Mumbai granted him relief for this reason- Confused about ITR forms? Here's how to pick the correct ITR for AY 2026-27
- Not prepared for ITR filing: Should you file your ITR now with available information or wait and file a belated ITR?
- Has government scrapped Long Term Capital Gain (LTCG) tax for foreign investors? Finance Ministry repliesThe government has clarified no LTCG tax scrapping for foreign investors. Only investments in Government Securities now receive tax exempti...30 Jul, 2026, 03.22 PM IST
- TDS deducted but you haven't filed your ITR yet? Here's what happens if you miss the July 31 deadlineFailing to file your income tax return by July 31, 2026, after TDS deduction has consequences. You will face interest charges and a late fi...29 Jul, 2026, 06.24 PM IST
- Mega Millions jackpot worth $800 million won in Florida: Winner beats 1-in-290.4 million odds, but there's a catch to the payoutA Florida resident became hundreds of millions of dollars richer after winning the Mega Millions jackpot. The winning ticket matched the nu...29 Jul, 2026, 05.09 PM IST
- Is government planning to scrap Long Term Capital Gain (LTCG) tax on equities for domestic investors in FY 26-27? Minister respondsLong Term Capital Gain: The Finance Ministry has denied contemplating the scrapping of LTCG tax on equities for domestic investors. There i...29 Jul, 2026, 12.48 PM IST
- India's growing Rs 100 crore club tells a bigger tax storyMore than five hundred taxpayers disclosed incomes exceeding one hundred crore rupees for the current fiscal year. This growth reflects ris...28 Jul, 2026, 11.36 PM IST
- Senior citizen FD rates 2026: Use an FD calculator to maximise your retirement returnsSenior citizens can earn up to 7.75% p.a. on Bajaj Finance fixed deposits. An online calculator helps estimate maturity amounts for retirem...28 Jul, 2026, 04.47 PM IST
- Hold US stocks under LRS? Here’s why you may not be able to gift them to NRI childrenIndian residents cannot gift US shares purchased through the LRS route to their NRI children. The liberalised remittance scheme requires sa...28 Jul, 2026, 02.49 PM 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
- Are gifts given to NRIs by relatives taxable? Here's what you need to know about income tax and FEMA rulesNRIs receiving gifts from resident Indians face varying tax implications. Gifts from specified relatives are fully exempt from Indian incom...25 Jul, 2026, 07.55 AM 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
- 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
- Rs 9.48 lakh income tax demand on coaching centre quashed: ITAT explains why attendance alone doesn't make contractual teachers employeesContractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand raised; ITAT Cochin rules administ...24 Jul, 2026, 12.11 PM IST
- Sold multi-asset MFs? Before filing ITR, check the fund’s underlying asset mix as it determines tax treatment; know how to file return on such gainsMulti-asset mutual fund taxation depends on equity and debt exposure. Equity-oriented funds have specific tax rates and holding periods. De...24 Jul, 2026, 11.29 AM IST
- Lady with Rs 5.28 lakh income pays no tax despite Rs 1.42 lakh STCG from equities; Know why ITAT Mumbai allowed the Section 87A rebateEver since the Income Tax utility has disabled the option to claim Section 87A tax rebate on short term capital gains (STCG) from listed eq...24 Jul, 2026, 10.49 AM IST
- NRE vs NRO FD: SBI, HDFC Bank, PNB and Axis Bank interest rates compared; know key differencesNRE and NRO accounts offer investment avenues for Non-Resident Indians in India. NRO accounts accept Indian earnings, while NRE accounts ho...23 Jul, 2026, 05.51 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
- Income tax return: How to report capital gains correctly to avoid ITR filing mistakesAll disclosure of capital gains must be filed in Schedule CG. This schedule houses separate sections for different types of gains. For accu...20 Jul, 2026, 11.45 AM IST
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