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80C INCOME TAX
Online gaming money tax dispute: GST to be charged on full value of the deposit, rules Supreme Court, know how it impacts the playersThe Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the...
Can you sell household items worth more than Rs 2 lakh in cash? Check the tax rulesA woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her fa...
Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...
ITR scrutiny alert: Income Tax Department identifies 6 categories of returns for mandatory scrutiny in FY 2026-27
Paying rent above Rs 50,000? Failure to deduct TDS can make you an assessee in default; know what to doTenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is ...
ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...
Reliance Foundation secures major win as ITAT overturns cancellation of charity registrationReliance Foundation has won a legal battle against the Income Tax authorities regarding the 'charitable' status of its Mumbai hospital. A t...
From tax exemption to FCNR(B) deposits: How India is trying to attract foreign capitalIndia is taking steps to attract foreign investment and boost its economy. The Reserve Bank of India and the government have introduced new...
Best tax saving mutual funds or ELSS to invest in June 2026Taxpayers can save income tax up to Rs 1.5 lakh annually by investing in Equity Linked Savings Schemes (ELSS). These tax-saving mutual fund...
Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...
Paying tax won't legitimise cash stashesThe taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...
Rs 20,000 monthly income from SCSS: How senior citizens can earn regular interest income for at least 5 yearsThe Senior Citizens Savings Scheme (SCSS) offers a stable 8.2% annual interest rate, ideal for retirees seeking predictable income. To earn...
Rs 1 lakh investment in NSC: What will be maturity value after 5 years?National Savings Certificate provides a secure investment option. With a 7.7% interest rate, a Rs 1 lakh investment grows to over Rs 1.44 l...
Waiting for Form 16? Here’s when employers may issue it for AY 2026-27 ITR filingSalaried employees await Form 16 for Assessment Year 2026-2027. Employers must issue this crucial tax document by June 15, 2026. This form ...
Maximum 39% marginal rate of income tax applicable for these individuals in Tax Year 2026-2027Individuals and certain entities will face a maximum 39% income tax rate under the new tax regime for Tax Year 2026-2027. This Maximum Marg...
New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...