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GIFT TAX ACT
Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...- Five reforms India needs before the next shockIndia faces economic vulnerabilities from external crises. Five reforms are proposed to build resilience. These include reducing gold and c...
- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...
- Investing abroad? These 7 costly mistakes could trigger an income tax noticeWealthy Indians are investing more abroad. However, they must understand the rules to avoid trouble. Mistakes like misusing investment rout...
- Residents tempted to gatecrash FCNR party for NRIsWealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to...
- Two phones and an app: How Russians skirt Putin's digital iron curtainSince the Kremlin ratcheted up control over the internet this year, Russians have been turning to increasingly convoluted technical solutio...
- GIFT City investment: Here’s how resident Indians can invest in global stocks, ETFs, and mutual fundsIndian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financ...
- 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...
- In 1999, a Texas farmer donated 87 acres for a public park for just $10, and in 2025, the city sold it to a data center developer for $10 millionA Texas farmer's 1999 gift of 87 acres for a park was intended to benefit local children. Decades later, that land is slated for a data cen...
- How to dematerialise and transfer physical share certificates to legal heirs?ET Wealth Reader's Query: I recently found several bonds and share certificates in physical form belonging to my late father. How can I get...
- Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...
- How Trump has used the presidency to benefit himself and his alliesPresident Trump's administration is reviewing a large fund proposed for supporters. This comes amid scrutiny over various financial dealing...
- How can I transfer or gift 800 grams of gold to my daughters?ET Wealth Reader's Query: I am a 50-year-old widower. My wife passed away a few years ago. I currently have around 800 grams of gold that b...
- Lady sold apartment, took Rs 2.5 lakh cash, bought new apartment from son-in-law, paid no tax, got income tax notice; she fights back and wins case in ITAT ChennaiA Chennai woman successfully appealed a tax notice after selling her apartment for Rs 35.5 lakh, including Rs 2.5 lakh in cash, and buying ...
- Bengaluru property tax: e-Khata open house to be held on May 30, 2026 at these areas under Bhoo Guarantee schemeBengaluru citizens can attend an e-Khata open house on May 30, 2026. This event, part of the Bhoo Guarantee- 6th guarantee scheme, offers o...
- Epstein files reveal ongoing ties with this one wealth managerDespite the allegations surrounding Jeffrey Epstein, Bank of America wealth adviser Paul V. Morris maintained connections with Epstein for ...
- Own assets in India and England? Why experts say you should make two separate Wills immediatelyIndividuals with assets in both India and England are advised to create separate Wills to ensure proper distribution and avoid legal challe...
- US death tax trap: Uncle Sam's wealth puzzle leaves rich Indians worried for their kidsRich Indian families are racing to shield booming US stock portfolios from America’s 40% inheritance tax, but face complex FEMA and LRS hur...
- New PAN norms 2026: Where quoting is relaxed and where it’s now mandatoryNew Income Tax Rules, 2026 have relaxed PAN quoting for several transactions, including cash deposits and debit card applications. However,...
- To give, first get to know: Why India’s everyday generosity matters more than everIndia witnesses widespread everyday giving, with households contributing billions annually. While generosity is abundant, most gifts are ad...
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