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...
08 Jun, 2026, 09.52 AM IST
ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
27 May, 2026, 11.06 AM IST
Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
22 May, 2026, 07.21 AM IST
Gave up tenancy, got new flat in redeveloped property, then faced income tax notice of STCG of Rs 1.1 crore: How tenant won at ITAT MumbaiA Mumbai tenant successfully challenged a Rs 1.1 crore tax notice. He surrendered tenancy for a new flat in a redeveloped building. The Inc...
14 May, 2026, 12.52 PM IST
Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...
01 May, 2026, 07.00 AM IST
Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
24 Apr, 2026, 03.38 PM IST
Income Tax dept seeks details from NRIs, offshore firms on unlisted share deals, flags valuation and fund source concernsIndia’s tax department has asked NRIs and offshore entities to justify investments in unlisted shares, seeking details on fund sources and ...
22 Apr, 2026, 10.36 AM IST
Deposited Rs 80 lakh cash during demonetisation: ITAT rejects property purchase claim, calls it unexplained incomeA Surat businessman's Rs 80 lakh cash deposit during demonetisation was deemed unexplained by ITAT Surat. The tribunal rejected his claim o...
09 Apr, 2026, 05.57 PM IST
CBDT releases ITR forms for FY 2022-23 (AY 2023-24)There are no major changes in the ITR forms notified by the government. The income tax return forms will differ for taxpayers depending on ...
24 Apr, 2023, 03.35 PM IST
When can you not use Form ITR1 to file income tax return for FY 2020-21?Form ITR-1 is used by most individual salaried taxpayers to file their income tax returns. However, there are certain situations where an i...
28 Dec, 2021, 10.39 AM IST
ITR forms for FY18-19 notified: Ask for days of residency, unlisted shares holdingNumber of days of residency in India, holding of unlisted shares are new details to be filled in by the taxpayers.
19 Jul, 2019, 12.35 PM IST
Know the correct income tax return form applicable to you for FY 2018-19There are some additional points which require due consideration at the time of selecting the correct tax return form.
19 Jul, 2019, 12.32 PM IST
Key changes in ITR-1 and ITR-2 forms for FY 2018-19 that you need to knowHere are nine changes in ITR forms 1 & 2 that you should know about while filing your return for FY19.
19 Jul, 2019, 12.30 PM IST
New I-T return forms: Expats need to give more info for claiming tax pact reliefOverseas residential details, tax identification numbers & residential status in India will need to be provided.
06 Apr, 2019, 08.49 AM IST
Guided Pinaka rocket successfully test firedDefence sources said the test was conducted at 12:45 PM and Pinaka rocket mark-II, equipped with navigation, guidance and control kit, was ...
14 Jul, 2018, 09.39 PM IST
India successfully test-fires Agni-I ballistic missileITR Director MVKV Prasad said, "It was a practice trial conducted by the Strategic Force Command of the Indian Army."
12 Dec, 2012, 10.26 AM IST
Keep track of your ITR until it’s acknowledgedHaven’t received an acknowledgement yet for your filed tax return from the income tax department? ET has suggestions for the follow-up.
01 Nov, 2012, 09.36 AM IST