ITR filing: Received Section 143(1) intimation with tax demand? Respond within 30 days or risk being treated as an ‘assessee in default’; know how to do itTaxpayers must respond to Section 143(1) intimations with tax demands promptly. Failure to respond within thirty days can lead to penalties...
23 Jul, 2026, 12.54 PM IST
ITR verification process: Different ways to e-verify your Income Tax Return using Aadhaar OTP, net banking, EVCTaxpayers can now e-verify their Income Tax Returns using multiple online options. Aadhaar OTP and Electronic Verification Code (EVC) are c...
22 Jul, 2026, 04.51 PM IST
Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT BangaloreFiled revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's de...
22 Jul, 2026, 02.33 PM IST
Selling Gold? Your tax bill depends on how you own it; ETFs, SGBs, jewellery and digital gold comparedUnlike Gold ETFs, both physical gold and digital gold have longer required holding periods for realizing long-term gains. Additionally, Sov...
22 Jul, 2026, 02.18 PM IST
Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT saidCan the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party ...
22 Jul, 2026, 02.16 PM IST
Foreign income taxation: Employees, investors, freelancers check these aspects to prevent double taxation on same foreign income while filing ITR for AY 2026-2027Indian taxpayers earning global income face potential double taxation concerns. India's tax treaties offer relief through credits or exclus...
22 Jul, 2026, 10.26 AM IST
Rs 1 lakh investment turns into Rs 3.57 lakh in gold bonds: SGB 2019-20 Series premature redemption date today, check if you need to pay capital gains taxSovereign gold bonds: The Reserve Bank of India has set the premature redemption price for SGB 2019-20 Series-VIII. This offers investors a...
21 Jul, 2026, 01.00 PM IST
Rs 1 lakh Investment turns into Rs 2.98 lakh: Sovereign Gold Bond 2021-22 Series premature redemption date todayThe Reserve Bank of India has set the premature redemption price for SGB 2021-22 Series-IV. Investors can redeem these bonds prematurely fr...
20 Jul, 2026, 04.03 PM IST
ITR filing 2026: Step-by-step guide to filing ITR-1 for AY 2026-27 before the July 31 deadlineStudents, salaried individuals, and pensioners can file ITR-1 for AY 2026-2027. The deadline for filing this income tax return is July 31, ...
20 Jul, 2026, 12.15 PM IST
7 big income tax changes for 2026-27 that may reduce penalties for small mistakesNew income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from Octo...
20 Jul, 2026, 11.57 AM 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
ITR-4 or ITR-3? Know which ITR form to file under presumptive taxation scheme and the documents requiredTaxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individual...
20 Jul, 2026, 11.23 AM IST
How a Meerut slum woman masterminded a Rs 357 crore income tax return fraud from a 25-sq-yard homeThe Income Tax Department has uncovered a large tax refund fraud racket. A 30-year-old woman allegedly created fake deductions worth crores...
18 Jul, 2026, 04.04 PM IST
Income tax on gifts: Received cash, property or shares? You may have to pay tax and report it in your ITR in these casesGifts from specified relatives are fully exempt from income tax. Non-relative gifts exceeding certain values become taxable under specific ...
16 Jul, 2026, 03.33 PM IST
Will filing your ITR early get you a faster income tax refund? Here's what really determines the processing timeFiling income tax returns early increases processing likelihood but does not guarantee faster refunds. Successful e-verification and matchi...
14 Jul, 2026, 09.52 AM IST
Income tax penalties explained: Under-reporting, not furnishing ITR, and more -Defaults and penalties under different sectionsIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 1...
13 Jul, 2026, 12.41 PM IST
Child education allowance tax benefit in ITR filing for FY 25-26: Know when you can claim itSalaried employees can claim child education allowance tax exemption under the old tax regime. This exemption is available for up to two ch...
10 Jul, 2026, 11.06 AM IST