Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing be ...More

Missed the ITR filing deadline? Don't panic! You might still claim your TDS refund. Learn about filing belated returns, potential fees, interest, and the crucial condonation process if even that window has passed. Understand the implications for carry-forward losses and deductions. Avoid common mistakes to ensure your refund is processed smoothly. ...Less

The Central Board of Direct Taxes is set to simplify TDS compliance requirements for residents buying pro ...More

The Central Board of Direct Taxes is set to simplify TDS compliance requirements for residents buying property from non-residents. From October 1, 2026, residents can use their PAN instead of obtaining a TAN for taxing purposes. This change is aimed at making tax compliance easier in such real estate transactions. Eligible resident individuals and Hindu undivided families can use Form 141 to report TDS deductions. ...Less

From October 1, 2026, Indian property buyers can buy properties from non-residents without getting a TAN. ...More

From October 1, 2026, Indian property buyers can buy properties from non-residents without getting a TAN. Instead a new system has been launched by the Finance Ministry under which the buyer needs to file Form 141 and fill Schedule E and then issue the TDS certificate in Form 132 to the non-resident. Earlier this system was very complicated, now it has been made comparatively easier. ...Less

Select small finance banks offer senior citizens fixed deposit rates up to 8.5 percent. Suryoday Small Fi ...More

Select small finance banks offer senior citizens fixed deposit rates up to 8.5 percent. Suryoday Small Finance Bank provides 8.5 percent interest on five-year fixed deposits for seniors. Jana Small Finance Bank offers 8 percent interest on similar fixed deposit terms. Banks deduct TDS on FD interest exceeding one lakh rupees for senior citizens. Senior citizens can submit Form 15H to avoid TDS if their tax liability is zero. ...Less

FD interest rates: Many banks are currently promoting compelling interest rates for 555-day fixed deposit ...More

FD interest rates: Many banks are currently promoting compelling interest rates for 555-day fixed deposits. While general depositors can enjoy rates of up to 7.25%, senior citizens benefit even more, with rates peaking at 7.50% for the same duration. Notably, City Union Bank and Karnataka Bank offer competitive options. It's advisable for depositors to check the latest rates before making any decisions on fixed deposits. ...Less

Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax r ...More

Gig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source. This service helps workers establish formal financial records for credit applications. Platforms like Zomato and Swiggy facilitate these filings for numerous partners. This shift signifies growing tax compliance within India's gig economy. ...Less

The proposed transaction shall be subject to satisfactory completion of due diligence, receipt of all req ...More

The proposed transaction shall be subject to satisfactory completion of due diligence, receipt of all requisite approvals and execution of the JDA. ...Less

The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs pena ...More

The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs penal interest charges. Advance tax is income tax paid in instalments during the financial year. Individuals with a tax liability exceeding Rs 10,000 must pay advance tax. Penal interest under Sections 234B and 234C applies for late or short payments. ...Less

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent ju ...More

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent judgement ruled that a father can’t be slapped with Rs 12.83 lakh penalty under Section 270A if his ITR-reported income matches the assessed income and the only point of contention is the tax benefit from the India-United Arab Emirates (UAE) DTAA treaty. ...Less

The excitement around AI and high-profile IPOs is undeniable—but the bigger question is whether valuation ...More

The excitement around AI and high-profile IPOs is undeniable—but the bigger question is whether valuations are being driven by current business economics or expectations of what these companies could become five or ten years from now. ...Less

Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit ...More

Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit card to pay for it; ITAT Mumbai gives relief to taxpayer. Challa Nagendra Prasad, Judicial Member and G.M. Doss, Accountant Member of ITAT Mumbai heard this case. ...Less

Highest senior citizen FD interest rates: Small finance banks offer senior citizens the highest fixed dep ...More

Highest senior citizen FD interest rates: Small finance banks offer senior citizens the highest fixed deposit rates currently. Equitas, ESAF, and Suryoday Small Finance Banks provide 8.50% interest. Public sector banks like Bank of India offer competitive rates on specific tenures. ...Less

The Taxation and Other Laws (Amendment) Act, 2026 addresses existing dividend tax discrepancies for unith ...More

The Taxation and Other Laws (Amendment) Act, 2026 addresses existing dividend tax discrepancies for unitholders by granting unconditional exemptions. Despite this, the established withholding tax regulations for BTs have not been modified, leading to possible inconsistencies. Non-resident investors may need to submit tax returns to retrieve withheld taxes, highlighting the need for a future alignment of withholding practices with the new exemption framework. ...Less

A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 ...More

A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of Rs 34.8 lakh. The amont was added to the husband's income alone by the tax office, despite him having a lower ownership in the property. ITAT Mumbai has delivered a ruling which could have significant takeaways for property owners. ...Less

The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional ...More

The Income Tax Department is set to enhance its Annual Information Statement by incorporating additional data. This revision extends to GST returns, foreign remittances linked to mutual funds, off-market securities, and overseas investments. Furthermore, data from another taxpayer's income tax returns will be added, aiming to fortify the verification of income and transaction details for taxpayers. ...Less

For senior citizens, certain banks have enticing fixed deposit options offering interest rates as high as ...More

For senior citizens, certain banks have enticing fixed deposit options offering interest rates as high as 8.5 percent. These deposits, with a maximum limit of Rs 3 crore, are typically available for a five-year tenure. Importantly, if the interest earned exceeds Rs 1 lakh in a year, TDS is deducted. ...Less

FCNR(B) deposits could boost banks’ return on equity despite a mild impact on net interest margins, accor ...More

FCNR(B) deposits could boost banks’ return on equity despite a mild impact on net interest margins, according to Anand Rathi. Exemptions from reserve requirements, capital-efficient lending and longer tenors could improve returns. The brokerage analysed four scenarios, including deposit costs, leverage and rising rates, to assess the scheme’s benefits. ...Less

The TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get ...More

The TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get a threshold limit of Rs 50 lakh before TDS isrequired to be deducted. Also the TDS rate for NRIs depends on three factors. Read the article. ...Less

Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, file ...More

Gamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT Bangalore. Waseem Ahmed, the Accountant Member, and Soundararajan K., the Judicial Member of ITAT Bangalore heard this case. ...Less

The Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if un ...More

The Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if unaccounted income merely reduced a reported loss and the corrected return remained a loss return. The amendment now permits such loss reduction updated returns retrospectively from 1 March 2026. ...Less

New York's Tonawanda Creek was once impaired by agricultural pollution. Farmers implemented best manageme ...More

New York's Tonawanda Creek was once impaired by agricultural pollution. Farmers implemented best management practices to reduce soil erosion and nutrient runoff. Water quality monitoring showed significant improvements after these conservation efforts. Grants supported these practices, which helped meet state water standards. ...Less

New labour codes mandate higher provident fund contributions for employees. This change reduces monthly t ...More

New labour codes mandate higher provident fund contributions for employees. This change reduces monthly take-home pay for many salaried individuals. Salaried employees having Rs 15 lakh CTC may get up to Rs 7,928 less net take home pay after new labour code is applied; Know what happens for Rs 10 lakh, 25 lakh and 50 lakh CTC. ...Less

Rs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Se ...More

Rs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Section 148 ITR; ITAT Delhi orders the tax dept to issue the refund with interest. ...Less

SBI paid Rs 40.62 lakh rent to three landlords but erroneously reported entire TDS against one landlord's ...More

SBI paid Rs 40.62 lakh rent to three landlords but erroneously reported entire TDS against one landlord's PAN, leading to tax dept denying Rs 2.7 lakh TDS credit as landlord only declared 1/3rd rent in ITR; Landlord fights in ITAT Agra and wins case; Know why ...Less

R Sivakumar, CIO, Axis Mutual Fund, believes the starting point should be a diversified asset-allocation ...More

R Sivakumar, CIO, Axis Mutual Fund, believes the starting point should be a diversified asset-allocation framework rather than market views alone. ...Less

Selling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax o ...More

Selling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief. ...Less

Employee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept s ...More

Employee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept sent notice and imposed Rs 3.74 lakh penalty, he fights and wins case in ITAT Delhi ...Less

ET Wealth Reader's Query: I jointly own a property with my wife, although it was funded entirely by me. I ...More

ET Wealth Reader's Query: I jointly own a property with my wife, although it was funded entirely by me. If I sell this property, is it necessary to purchase the new property in our joint names to qualify for the Long-Term Capital Gains (LTCG) tax exemption, or can I purchase the new property solely in my name? ...Less

A recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased option ...More

A recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased options are capital assets, not perquisites. This decision provides significant relief and clarity for employees and startups. Substance over form prevails, ensuring correct tax treatment regardless of filings. Employees should understand vesting, exercise, and repurchase rules for ESOPs. ...Less

Raghvendra Nath, MD, Ladder Up Wealth Management, believes equities should form the core of an NRI’s Indi ...More

Raghvendra Nath, MD, Ladder Up Wealth Management, believes equities should form the core of an NRI’s India portfolio, while fixed income and alternative investments can provide diversification. ...Less

While a weaker rupee means more rupees for every dollar remitted, it can also erode the dollar value of I ...More

While a weaker rupee means more rupees for every dollar remitted, it can also erode the dollar value of INR-denominated investments over time. ...Less

Freelancers preparing for AY 2026-27 have a new ITR submission deadline, offering relief to many. Underst ...More

Freelancers preparing for AY 2026-27 have a new ITR submission deadline, offering relief to many. Understanding tax audit requirements is essential and varies based on turnover, with distinct reporting dates. Selecting the appropriate ITR form such as ITR-3 or ITR-4 plays a crucial role in accurately reporting income. Eligible business expenses can be claimed by freelancers, which helps minimize their tax burden, while income from foreign clients needs clear disclosure. ...Less

Private credit, REITs, InvITs and PMS are gaining interest for their potential to provide differentiated ...More

Private credit, REITs, InvITs and PMS are gaining interest for their potential to provide differentiated return streams, contractual cash flows and exposure to India’s growth story. ...Less

Fixed Deposit (FD) rate for senior citizens investing for five years. The article has a chart using which ...More

Fixed Deposit (FD) rate for senior citizens investing for five years. The article has a chart using which you can compare the top banks which is giving such high interest rate on FDs. Also know about when you can prevent TDS deduction from FD using Form 15H (senior citizens only). ...Less

Post office time deposits provide a reliable income source, supported by government assurance for investo ...More

Post office time deposits provide a reliable income source, supported by government assurance for investors. When you invest Rs 5 lakh, the maturity amounts vary significantly depending on your chosen tenure. The government updates interest rates quarterly, resulting in maturity values ranging from Rs 5.35 lakh to Rs 7.24 lakh. It's important to note that only the 5-year time deposit qualifies for tax benefits. ...Less

Rising crypto Futures trading volumes in India do not signal market maturity, writes Vikram Subburaj, CEO ...More

Rising crypto Futures trading volumes in India do not signal market maturity, writes Vikram Subburaj, CEO of Giottus.com. High leverage inflates turnover without building spot market depth. True maturity requires transparent disclosures, robust spot liquidity, strict asset segregation, verifiable custody, and stronger investor protection safeguards on compliant onshore platforms. ...Less

Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer servi ...More

Senior Income Tax officials met in Jaipur for a two-day conclave. They discussed improving taxpayer services and reducing litigation for the department. Discussions also covered strengthening infrastructure and creating an actionable future roadmap. E-HRMS, service matters, and capacity building were extensively deliberated upon. The conclave concluded with a focus on future departmental functioning and priorities. ...Less

When selling Indian assets, be cautious of the potential tax implications linked to your country of resid ...More

When selling Indian assets, be cautious of the potential tax implications linked to your country of residence. Tax obligations can vary based on your residency timeline and applicable regulations. Read on to understand how your residency can impact your tax bill if you are an NRI in the US, UK, Canada, Australia, Singapore or UAE. ...Less

This Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer foun ...More

This Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer found large cash deposits, unsecured loans worth crores, and discovered that the Rs 3 lakh agricultural income wasn’t substantiated by supporting evidence. Read on to know what happened next, and what has the ITAT ordered. ...Less

New rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon a ...More

New rules are being prepared for electronic applications for lower TDS certificates. Taxpayers can soon apply online for reduced or nil tax deductions. This initiative aims to ease compliance burdens for small taxpayers. The Income Tax department disposed of many appeals in the last fiscal year. Faceless assessments were also completed, though fewer than previously. ...Less

Over the last decade, Crompton has expanded beyond its core categories through sustained investments in t ...More

Over the last decade, Crompton has expanded beyond its core categories through sustained investments in technology and product innovation. ...Less

Succession planning involves connected legal and tax events, not just death. Income earned before death m ...More

Succession planning involves connected legal and tax events, not just death. Income earned before death must be reported by the deceased's representative. Income arising after death is taxable to the executor or administrator. Individual and HUF property tax treatments differ significantly based on acquisition. Proper record-keeping is essential for calculating capital gains and tax liabilities. ...Less

Earning income from futures and options trading or other side hustles? Cumbersome compliance, reconciliat ...More

Earning income from futures and options trading or other side hustles? Cumbersome compliance, reconciliation and disclosures mean taxpayers should not wait until 31 August to file. Salaried taxpayers with income from side hustles should start by reconcil ing their Form 16 with the Annual Information Statement (AIS) and Form 26AS. Tally your income records with tax credits displayed in the form. ...Less

India could reach a $20 trillion economy by 2036 with reforms. This requires sustained rupee growth and a ...More

India could reach a $20 trillion economy by 2036 with reforms. This requires sustained rupee growth and appreciation, according to a research report. Services will become the principal engine of economic expansion, growing significantly. Proposed reforms span multiple sectors, including capital markets and human capital. Successful execution across many fronts will determine achieving this ambitious economic milestone. ...Less

Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspici ...More

Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspicious entities who sent money abroad; Know what to do ...Less

Indian residents' outward remittances have significantly increased, reaching a record USD 31.73 billion b ...More

Indian residents' outward remittances have significantly increased, reaching a record USD 31.73 billion by FY2023-24. Digital reforms and infrastructure upgrades have streamlined the process for investing abroad. Online Form A2 submissions and remote identification now allow faster transactions. Recent changes have removed value caps and widened permissible remittance purposes. These developments make global markets more accessible for millions of Indians. ...Less

The Delhi High Court has asked the government for its response on a plea. This plea seeks automatic tax d ...More

The Delhi High Court has asked the government for its response on a plea. This plea seeks automatic tax deducted at source refunds for individuals not owing income tax. Currently, these individuals must file an income tax return to claim their refunds. The court is considering directing immediate processing of unclaimed TDS refunds up to ₹5,000. A permanent automatic TDS refund mechanism for future years is also being sought. ...Less

Filing your income tax returns punctually doesn't guarantee immunity from tax department notices. Often, ...More

Filing your income tax returns punctually doesn't guarantee immunity from tax department notices. Often, discrepancies arise between reported earnings and the data the department holds. Additional sources of income, misreported TDS or TCS credits, and large cash transactions lacking corresponding declared income can trigger further scrutiny. ...Less

The Central Secretariat Club faces eviction after its recognition was revoked by the Department of Person ...More

The Central Secretariat Club faces eviction after its recognition was revoked by the Department of Personnel and Training. The Directorate of Estates has ordered the club to vacate its government-allotted premises at Park Lane. The club has challenged both orders in the Delhi High Court, seeking to maintain status quo. ...Less

Retirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capit ...More

Retirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It's crucial to identify which income streams are subject to taxation and which advantages remain untaxed to prevent errors and manage your finances wisely. Learn strategies to legally minimize your tax responsibilities after retirement and bolster your financial stability. ...Less

TD Power Systems shares surged after the company reported a strong Q1FY27 performance. Profit after tax r ...More

TD Power Systems shares surged after the company reported a strong Q1FY27 performance. Profit after tax rose 72% YoY to Rs 86 crore, while revenue and EBITDA jumped 71% and 72%, respectively, driven by robust operational growth. ...Less

Dubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn ...More

Dubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Schedule FA of ITR; ITAT Delhi upholds Rs 1.86 lakh penalty under Black Money Act, 2015. Know why did he lose the case. ...Less

Select banks offer senior citizens fixed deposit interest rates up to 8.3 percent. Jana Small Finance Ban ...More

Select banks offer senior citizens fixed deposit interest rates up to 8.3 percent. Jana Small Finance Bank provides this highest rate for a three-year term. TDS is deducted if FD interest exceeds Rs 1 lakh annually for senior citizens. Senior citizens can submit Form 15H to avoid TDS if their tax liability is zero. This form helps banks avoid deducting tax when income falls below taxable limits. ...Less

Digital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transacti ...More

Digital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transactions do not match your declared income. The Income Tax Department cross-verifies financial data from various sources. Taxpayers should regularly check their Annual Information Statement and reconcile records. Maintaining transaction records and accurately reporting income prevents unnecessary scrutiny. ...Less

Non-Resident Indians (NRIs) are prohibited from making new investments in RBI floating rate savings bonds ...More

Non-Resident Indians (NRIs) are prohibited from making new investments in RBI floating rate savings bonds; however, those who are existing holders may maintain their investments. The bonds offer an attractive interest rate of 8.05%, bolstered by government guarantees. ...Less

Urban Company has launched its Native M3 and Native M3 Pro water purifiers with a three-year unconditiona ...More

Urban Company has launched its Native M3 and Native M3 Pro water purifiers with a three-year unconditional warranty and no routine servicing or filter replacement during that period. Speaking to The Economic Times, Co-Founder and COO Varun Khaitan said the company's years of experience in repairing appliances and serving customers helped shape better products, with the latest purifiers featuring long-lasting filters, connected monitoring and lower lifetime ownership costs. ...Less

Failing to file your income tax return by July 31, 2026, after TDS deduction has consequences. You will f ...More

Failing to file your income tax return by July 31, 2026, after TDS deduction has consequences. You will face interest charges and a late filing fee for delayed submissions. Not filing an ITR prevents claiming refunds and carrying forward losses. Virtual digital asset income is taxed regardless of the exemption limit. The tax department may issue notices for non-compliance and missed filings. ...Less

Selling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Propert ...More

Selling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Property sales offer significant tax reduction opportunities through reinvestment and documentation. Agricultural land taxation depends on its location, with rural land generally exempt from tax. Listed shares and mutual funds have specific tax treatments and exemptions for long-term gains. Careful planning and seeking expert advice are crucial before selling any Indian asset. ...Less

FCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax pol ...More

FCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax policies. Interest earnings from Indian banks are recognized as originating from Singapore, triggering local taxes that can diminish effective yields on these deposits. Conversely, payments made to Indian banks' Singapore branches do not incur this tax. It's crucial for investors to assess these tax ramifications before engaging in FCNR(B) investment activities. ...Less

Higher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over ...More

Higher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over 23,000 departmental cases withdrawn or not filed across ITAT, high courts and the Supreme Court. ...Less

ET Wealth Reader's Query: I am 43, a homemaker, with mutual fund investments of Rs 35 lakh and stock inve ...More

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 invested from my husband’s income. During FY2025 26, I received dividend income of Rs 98,000, on which TDS of Rs 4,000 was deducted. I have no short-term or long-term capital gains during the year. In earlier years, I filed ITR-1 and reported annual income of Rs 2-3 lakh from private tuition. Is it appropriate to continue reporting Rs 2-3 lakh as income from private tuition? If so, which ITR form should I file? ...Less

Sweep-in fixed deposits and liquid funds offer better returns than savings accounts. Sweep-in FDs provide ...More

Sweep-in fixed deposits and liquid funds offer better returns than savings accounts. Sweep-in FDs provide immediate access for money needed within a week. Liquid funds become more attractive for holding periods around three months. Combining both options balances liquidity, returns, and flexibility effectively. Taxation differs, with FD interest taxed as it accrues and fund gains taxed upon redemption. ...Less

Taxpayers who filed their income tax returns by the July 31 deadline are now awaiting refunds. The Income ...More

Taxpayers who filed their income tax returns by the July 31 deadline are now awaiting refunds. The Income Tax Department processes refunds after successful e-verification of the filed returns. ...Less

Contractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand ...More

Contractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand raised; ITAT Cochin rules administrative supervision over timings, attendance and leave does not automatically create an employer-employee relationship. Know what ITAT Cochin said about TDS on salary paid to contractual employees. ...Less

Despite their benefits, REITs have not found widespread acceptance. Tax treatment is a major hurdle. When ...More

Despite their benefits, REITs have not found widespread acceptance. Tax treatment is a major hurdle. When investing directly in REITs, investors face multiple layers of taxes. But two things have now changed. From 1 January 2026, REITs are classified as equity for taxation purposes. This means gains on investments held for more than 12 months qualify as LTCG and are taxed at 12.5%. ...Less

GIFT City offers NRIs and OCIs a dollar-denominated investment ecosystem. This financial hub provides acc ...More

GIFT City offers NRIs and OCIs a dollar-denominated investment ecosystem. This financial hub provides access to global and Indian investment products. Investors can avoid rupee conversion and navigate repatriation rules easily. Various investment options like mutual funds and fixed deposits are available. Read the article to look at the investment options, tax benefits, and the process to get started. ...Less

Senior citizens can earn up to 7.75% p.a. on Bajaj Finance fixed deposits. An online calculator helps est ...More

Senior citizens can earn up to 7.75% p.a. on Bajaj Finance fixed deposits. An online calculator helps estimate maturity amounts for retirement planning. These deposits offer additional benefits for investors aged sixty and above. The highest safety ratings ensure timely payment of interest and principal. Booking a senior citizen fixed deposit online takes under ten minutes. ...Less

FPIs pulled out a record ~$18 billion (₹1.7 lakh crore) that year. 2026 has been worse, rupee returns are ...More

FPIs pulled out a record ~$18 billion (₹1.7 lakh crore) that year. 2026 has been worse, rupee returns are down 10% from the year's high, and FPIs have now taken out close to $28 billion (₹2.6 lakh crore). ...Less

Builder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice ...More

Builder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent liability; ITAT Mumbai cancels tax notice and rejects tax dept's contention. Know the full details of what happened in this case. ...Less

Missing the July 31, 2026 ITR filing deadline incurs a late fee. Belated returns can be filed with intere ...More

Missing the July 31, 2026 ITR filing deadline incurs a late fee. Belated returns can be filed with interest and a penalty up to Rs 5,000. Crypto investors lose the ability to carry forward losses to future tax periods. Non-filing can trigger tax notices from the department. Options include condoning the delay or filing a belated return. ...Less

India's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty p ...More

India's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty percent tax on gains and one percent TDS. Specific provisions govern the taxation of cryptocurrencies and non-fungible tokens. Airdrops and staking rewards are taxed as income upon receipt. Non-disclosure of overseas holdings can invite severe penalties and prosecution. ...Less

Rs 6.63 crore penalty imposed on salaried employee for reporting perquisite as capital gains in ITR; ITAT ...More

Rs 6.63 crore penalty imposed on salaried employee for reporting perquisite as capital gains in ITR; ITAT Mumbai grants relief, says salaried employees may not be well versed in complex tax provisions. Read the story to know the full details. ...Less

ITR filing : Taxpayers rush to file income tax returns before the July 31 deadline. Common errors include ...More

ITR filing : Taxpayers rush to file income tax returns before the July 31 deadline. Common errors include not e-verifying and mismatched personal details. Reconciling income with Form 16 and AIS is crucial for successful submission. ...Less

NRIs selling under-construction property must use the allotment date for capital gains. This date determi ...More

NRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term capital gains tax treatment. The Bombay High Court and other rulings support the allotment date as the acquisition point. This principle applies even when possession or registration occurs much later. Proper documentation of the allotment letter is crucial for NRIs. ...Less

ITR filing: Taxpayers have four days remaining to file their Income Tax Return by the July 31, 2026 deadl ...More

ITR filing: Taxpayers have four days remaining to file their Income Tax Return by the July 31, 2026 deadline. It is important to match Form 16 with AIS and Form 26AS for accurate tax deductions. Gather all income and deduction documents, and choose the correct tax regime for potential savings. ...Less

New EPF withdrawal rules offer greater flexibility for salaried employees. Experts caution against withdr ...More

New EPF withdrawal rules offer greater flexibility for salaried employees. Experts caution against withdrawing retirement savings prematurely due to lost compounding. Transferring EPF balances is generally better than withdrawing when changing jobs. Withdrawing EPF can impact future Employees' Pension Scheme benefits significantly. Consider genuine needs like permanent relocation or financial hardship before withdrawing. ...Less

NRE and NRO accounts offer investment avenues for Non-Resident Indians in India. NRO accounts accept Indi ...More

NRE and NRO accounts offer investment avenues for Non-Resident Indians in India. NRO accounts accept Indian earnings, while NRE accounts hold international funds. Interest on NRO deposits faces tax, unlike NRE accounts which are tax-free. NRE funds are fully repatriable, and NRO funds have a yearly repatriation limit. Major banks offer similar interest rates on both NRE and NRO fixed deposits. ...Less

Non-Resident Indians can park their Indian income in NRO fixed deposits. These deposits offer attractive ...More

Non-Resident Indians can park their Indian income in NRO fixed deposits. These deposits offer attractive interest rates, with some banks providing up to 6.75 percent. Banks like Bank of Baroda offer the highest rates on specific tenures. Investors should consider tax implications and Double Taxation Avoidance Agreements. Understanding these factors helps maximize returns on NRO fixed deposits. ...Less

NRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaini ...More

NRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaining a Lower TDS certificate can prevent over-withholding on sale consideration. Understanding capital gains tax and available exemptions is crucial for maximizing returns. Recent changes have altered capital gains taxation for equities and debt funds. Proper documentation and timely filing are essential for claiming refunds and repatriating funds. ...Less

To purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his ...More

To purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his UAE bank a/c using Dubai exchange bureau; she got tax notice for unexplained property investment; she fights and wins case in ITAT Mumbai for this reason. Know how she won the case in ITAT Mumbai. ...Less

Individuals with business income must file ITR-3 for AY 2026-2027. This form captures various income sour ...More

Individuals with business income must file ITR-3 for AY 2026-2027. This form captures various income sources, including salary and capital gains. Taxpayers can file ITR-3 online through the e-filing portal. The process involves filling general information and specific schedules. E-verification must be completed within thirty days of submission. ...Less

NRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in I ...More

NRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of shares from a son to his father is not regarded as a transfer for capital gains purposes in the hands of the donor, the reporting of such off-market transactions in the Annual Information Statement (AIS) often creates uncertainty. Experts explain AIS, tax rules and how to avoid notices. ...Less

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications fi ...More

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications filed before March 31, 2026, will be processed under the new law. Lower or nil TDS certificates issued previously remain protected and valid. New applications filed after April 1, 2026, will follow the 2025 Act. Taxpayers need not take additional action for this transition. ...Less

Presumptive taxation simplifies income computation for eligible taxpayers. However, a tax audit may be re ...More

Presumptive taxation simplifies income computation for eligible taxpayers. However, a tax audit may be required if actual income falls below prescribed rates. This scheme benefits professionals and businesses with limited expenses and high margins. It reduces compliance burdens and the need for detailed record-keeping. Freelancers and gig workers should evaluate eligibility and profit margins carefully. ...Less

NRIs investing in India must understand tax rules and residential status. Double Taxation Avoidance Agree ...More

NRIs investing in India must understand tax rules and residential status. Double Taxation Avoidance Agreements offer beneficial tax treatments for certain income streams. Recent changes affect capital gains and mutual fund taxation significantly for investors. Careful planning of investment exits and documentation is crucial for compliance. Adhering to FEMA and RBI regulations ensures smooth repatriation of funds. ...Less

New income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures w ...More

New income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from October 2024. Prosecution provisions are softened with reduced jail terms and graded punishments. Several penalties are converted into fixed fees to reduce litigation and bring certainty. Penalty proceedings will merge with assessment proceedings from April 2026. ...Less

ITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS bu ...More

ITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS but has not remitted the same to the revenue. Because of this, full TDS credit didn’t reflect in her Form 26AS and so the Rs 3.91 lakh TDS credit claim was denied. Read on to know how the taxpayer won the case. ...Less

Taxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally ...More

Taxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individuals and HUFs with income up to fifty lakh rupees. However, certain conditions like foreign income or losses necessitate filing ITR-3. Essential documents include PAN, Aadhaar, bank details, and tax payment proofs. Ensuring an active PAN and validated bank account is crucial for filing. ...Less

Senior citizens can now secure fixed deposit interest rates up to 8.3% for a three-year term with select ...More

Senior citizens can now secure fixed deposit interest rates up to 8.3% for a three-year term with select small finance banks, offering a lucrative opportunity for savings. While deposits are insured up to Rs 5 lakh, experts advise caution. TDS is deducted if FD interest exceeds Rs 1 lakh annually, but eligible individuals can avoid this by submitting Form 15H. ...Less

Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax ...More

Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax liability based on declared income and deductions, then divide it to deduct tax monthly. This ensures smooth tax collection throughout the year. The article details TDS calculations for CTCs of Rs 15, 20, and 25 lakh under both old and new tax regimes, offering insights for salaried individuals. ...Less

Taxpayers must respond to Section 143(1) intimations with tax demands promptly. Failure to respond within ...More

Taxpayers must respond to Section 143(1) intimations with tax demands promptly. Failure to respond within thirty days can lead to penalties. Interest accrues on unpaid demands after the stipulated period expires. Ignoring these notices may result in being classified as an assessee in default. This classification empowers the tax department to initiate recovery proceedings. ...Less

Students, salaried individuals, and pensioners can file ITR-1 for AY 2026-2027. The deadline for filing t ...More

Students, salaried individuals, and pensioners can file ITR-1 for AY 2026-2027. The deadline for filing this income tax return is July 31, 2026. This simplified form is for resident individuals with income up to fifty lakh rupees. It covers income from salary, one house property, and other specified sources. Taxpayers must log in to the e-filing portal and follow the guided steps. ...Less

After filing your Income Tax Return, you may receive a Section 143(1) intimation notice. This notice conf ...More

After filing your Income Tax Return, you may receive a Section 143(1) intimation notice. This notice confirms the tax department's preliminary processing of your filed return. It details any adjustments made to your income, deductions, and tax liability. Taxpayers must review this intimation carefully for any discrepancies or demands. Responding within thirty days is crucial to avoid penalties and interest. ...Less

Airlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing c ...More

Airlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move aims to boost airline cash flow and position India as a global aircraft leasing hub. The exemption, effective immediately, simplifies compliance and raises the competitiveness of GIFT City-based lessors against offshore centers, encouraging more leasing activities within India. ...Less

Indian influencers and gig workers face significant tax compliance challenges. Many struggle with trackin ...More

Indian influencers and gig workers face significant tax compliance challenges. Many struggle with tracking income and claiming eligible deductions accurately. Discrepancies in TDS reporting create difficulties when filing income tax returns. Uncertainty surrounds the classification of influencers as businesses or professionals for taxation. Clearer guidelines are needed to simplify tax procedures for this evolving sector. ...Less

Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the ...More

Taxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed under FY 2025-26. Failure to correct will prevent TDS credit for Tax Year 2026-27, increasing tax liability. The new TRACES portal does not yet support this correction. Timely correction ensures proper tax credit and avoids disputes. ...Less

Government departments must remit employee NPS contributions promptly to PFRDA. Delays in crediting NPS c ...More

Government departments must remit employee NPS contributions promptly to PFRDA. Delays in crediting NPS contributions will incur interest charges for employees. This interest will match the Public Provident Fund rate applicable at that time. Officials causing administrative delays face liability for pecuniary losses to the government. Departments must report actions taken regarding these NPS contribution remittance rules. ...Less

From April 1, 2025, TDS threshold changes will increase limits on interest income, dividends, rent, and c ...More

From April 1, 2025, TDS threshold changes will increase limits on interest income, dividends, rent, and commissions. The updates aim to improve cash flow and reduce tax burdens. Key adjustments include higher limits for senior citizens, small investors, and professionals. These alterations will provide significant relief to depositors, investors, and those earning through commissions. ...Less

Taxpayers should verify Annual Information Statement data for capital gains. Relying solely on AIS may le ...More

Taxpayers should verify Annual Information Statement data for capital gains. Relying solely on AIS may lead to incorrect income reporting for AY 2026-27. Download broker P&L statements and reconcile them with AIS information. Independent capital gains computation is crucial before filing income tax returns. This ensures accurate reporting and compliance with tax regulations. ...Less