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ITR REFERENCE FOR COMPENSATION
SC lays down guidelines on computation of income of motor accident victimsThe Supreme Court has established new guidelines for determining motor accident compensation based on Income Tax Returns. For salaried indi...- Big win for NRI taxpayer: ITAT Chennai rules US-based individual qualifies as non-resident, no tax in India on overseas earningsAn NRI successfully challenged the Indian tax department's decision to tax his global income. The Income Tax Appellate Tribunal (ITAT) Chen...
- Fired employee gets Rs 26 lakh severance pay, but didn't pay income tax; loses tax battle in ITAT Hyderabad for this key reasonIn a landmark decision on November 19, 2025, the ITAT Hyderabad ruled that severance packages is to be classified as taxable income under p...
- Homeowners, not housing society, must pay capital gains tax on sale of development rights to builders, rules ITAT MumbaiThe Income Tax Appellate Tribunal Mumbai has ruled that individual homeowners are liable for capital gains tax when their housing society s...
- Wife gets tax notice for purchasing Rs 51 lakh property but not filing ITR, she fights back and wins in ITAT AhmedabadA Mumbai woman, Mrs. Sood, successfully appealed an income tax notice for an alleged unexplained Rs 51 lakh property investment. The Income...
- Major changes in GST Invoice Management System (IMS) from October 2025 tax periodThe Goods and Services Tax Network has updated its Invoice Management System. Taxpayers can now mark credit notes as pending for one tax pe...
- Tax dept seized wife’s Rs 1.65 crore worth of gold and silver jewellery, issued notice for unexplained investment, husband filed case; wins in ITAT BengaluruThe Income Tax Department seized Rs 1.65 crore worth of gold and silver jewellery from Suresh's residence. The department claimed it was un...
- Homebuyer claims Section 80C tax deduction for home loan repayment, tax dept challenges it — ITAT Panaji rules in his favourA Goan homebuyer successfully challenged the tax department's denial of his Section 80C deduction for home loan repayment. The ITAT Panaji ...
- Employee fired over assault charge fights legal battle for 16 years, wins Rs 4 lakh compensation in Karnataka High CourtA terminated employee has won Rs 4 lakh in compensation after a 16-year legal fight. The Karnataka High Court ruled in his favor, stating t...
- Father and son jointly sell ancestral land for Rs 13 crore; father gets tax notice; they file appeal in ITAT Pune and win caseA father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT Pune ruled in ...
- No income tax for taxpayer whose land was compulsorily acquired at Rs 73 lakh by NHAI due to this reason, rules Chhattisgarh High CourtThe Chhattisgarh High Court ruled that compensation received for land acquired by the NHAI is exempt from income tax under Section 96 of th...
- Alimony: Retired husband to pay 60% of his pension income as maintenance to divorced wife, orders High CourtA retired UCO Bank employee faced a legal battle when his ex-wife demanded continued maintenance payments, including a 5% increase every tw...
- Make the best of income tax gains: Revise your salary structure for better tax saving and simpler tax filingThis can be done by eliminating the deductible allowances, such as House Rent Allowance (HRA), Leave Travel Allowance (LTA) under the old r...
- Income from asset transferred to even your daughter-in-law will be clubbed to your income and will be taxable in your hand in this case, says income tax deptIncome tax clubbing: The tax department has released a new brochure saying Section 64(1)(vi), 64(1)(viii) says Income from Assets transferr...
- How to file ITR online: A step-by-step guideHow to file ITR: The deadline for filing your income tax return (ITR) for the financial year 2023-24 is July 31, 2024. Many individuals wil...
- How to file ITR-2 online with salary, capital gains and other incomes for FY 2023-24 (AY 2024-25)?ITR-2 can be filed using the Excel or Java utilities provided by the income tax department, or online directly through the e-filing portal....
- How to file ITR-2 online with salary, capital gains and other incomes for FY 2022-23Read below to find out how income tax return form ITR-2 can be filed online for people with salary, capital gains and other income for FY 2...
- Getting an ESOP in your next job? Here's how an ESOP works, risks involved and tax implicationsTypically, a company offers its employee an option to buy a fixed number of stocks after a vesting period at a predetermined price that oft...
- Can laid off employees save tax on their severance pay?According to the provisions of Rule 21A(1)(c), an individual will be eligible to claim relief under Section 89 in respect of compensation r...
- Benefits of filing ITR even when income is below exemption limitEven though filing of ITR is not mandatory for some individuals, there are certain benefits that one can avail of provided the ITR has been...
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