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IT ACT 1961
Michael J. Fox's powerful Father's Day quote: “Family is not an important thing. It’s… — The acclaimed actor’s timeless life lesson on family bonds, love, support, belonging, and the why valuing loved ones is one of life’s greatest prioritiesMichael J. Fox's powerful Father's Day quote: “Family is not an important thing. It’s everything,” explores the profound role that family p...- Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
- TDS Challan correction for Income Tax Act, 2025 needs to be done using the old TRACES portal; Here’s how to do itTaxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed unde...
- Quote of the day by Princess Diana: 'The greatest problem in the world today is...' Life lessons on empathy, action, vulnerability, kindness and compassionQuote of the Day by Princess Diana continues to inspire people through its message on empathy, compassion, kindness, action, and understand...
- ITR filing due dates for AY 2026-27: July 31 is not the deadline for every taxpayer; check 5 other tax filing due datesThe Income Tax Department has set July 31, 2026, as the deadline for most individual taxpayers, including the salaried class, to file their...
- In 1961, a Yale psychologist had ordinary people deliver 450-volt shocks to strangers: 65% obeyed, rewriting how we understand authorityIn a groundbreaking study conducted at Yale University in 1961, Stanley Milgram examined the phenomenon of obedience to authority. Particip...
- Income tax alert: These taxpayers could receive scrutiny notices by June 30, 2026 under Section 143(2)The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadl...
- What crypto investors need to know for tax season 2026India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...
- 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 ...
- Forget the DOJ. For a Trump pardon, call "Bobby" and other influencersPresident Donald Trump's pardon system has shifted dramatically. Influence now hinges on personal networks and narratives of victimhood, by...
- 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...
- Life advice of the day by George Clooney: 'The simple truth is that everyone has an opinion, everyone has the right to...' - inspiring quote and life lessons on self-expression, opinions and why every voice deserves to be heard by Oscar-winning actor of SyrianaLife advice of the day by George Clooney: George Clooney emphasizes the fundamental right to express opinions, highlighting that diverse pe...
- 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...
- Quote of the day by Michael J Fox: 'Family is not an important thing, it's...' - A heartfelt lesson about what matters most in lifeQuote of the day by Michael J Fox: Actor Michael J Fox shared a powerful quote about family. He highlights that loved ones are paramount in...
- 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...
- 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...
- I-T department to move Supreme Court against HC relief in public trust rowThe rift stems from the Income-tax department's demand that deeds of these religious and charitable trusts must categorically state that th...
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