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INCOME TAX ACT OF 1961
Supreme Court rejects plea challenging Income Tax break to STs in North East- Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITAT
- ITR filing due dates for AY 2026-27: July 31 is not the deadline for every taxpayer; check 5 other tax filing due dates
- NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDSNRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...17 Jun, 2026, 01.27 PM IST
- 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...17 Jun, 2026, 12.23 PM IST
- Do you need to file ITR if you only incurred losses from equities or mutual funds? Check the detailsIndividuals earning below basic exemption limits (Rs 2.5 lakh old, Rs 4 lakh new regime) generally don't need to file ITR. However, mandato...16 Jun, 2026, 11.21 AM IST
- 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...15 Jun, 2026, 03.57 PM IST
- 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...13 Jun, 2026, 12.42 PM IST
- 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...12 Jun, 2026, 10.44 AM IST
- 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 ...12 Jun, 2026, 07.11 AM IST
- 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 ...11 Jun, 2026, 01.29 PM IST
- 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...11 Jun, 2026, 07.43 AM IST
- Social Security crisis 2032: Could a 22% benefit cut slash retirement income for millions of Americans if Congress fails to act?Social Security crisis 2032 is no longer a distant warning. Current projections show the trust fund could face depletion by 2032, triggerin...10 Jun, 2026, 11.22 PM IST
- 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...08 Jun, 2026, 01.39 PM IST
- 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
- Paying tax won't legitimise cash stashesThe taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...08 Jun, 2026, 12.28 AM IST
- 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...05 Jun, 2026, 06.22 PM IST
- 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...03 Jun, 2026, 12.30 PM IST
- 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...03 Jun, 2026, 10.10 AM IST
- 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...31 May, 2026, 11.54 PM IST
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