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Man constructs a house before selling his old property and claims income tax exemption under Section 54; Income Tax Department sends notice; he wins case in ITAT DelhiConstructs house for Rs 47 lakh in Tilak Nagar, sells old property in Paschim Viharfor Rs 53 lakh, pays no tax, tax dept sent notice, man w...19 Aug, 2026, 12.26 PM IST- Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to knowThe Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its t...19 Aug, 2026, 10.44 AM IST
- Big relief to taxpayers with undisclosed foreign assets: CBDT notifies Foreign Assets of Small Taxpayers disclosure scheme rules; Know who can use it by December 31, 2026Good news: Save huge tax penalty as CBDT notifies Foreign Assets of Small Taxpayers disclosure scheme rules; Know who can use it by Decembe...19 Aug, 2026, 06.51 AM IST
- Ceigall India-Sushee Infra Mining joint venture receives four orders worth Rs 2,150 crCeigall India and Sushee Infra Mining received four road construction orders. These contracts are for building multiple road packages on NH...18 Aug, 2026, 03.32 PM IST
- Succession Planning: 8 key tax considerations you should take into accountSuccession planning involves connected legal and tax events, not just death. Income earned before death must be reported by the deceased's ...18 Aug, 2026, 03.18 PM IST
- US, Canada hold last-minute talks to stop 50% U.S. tariffs on $20 billion worth of Canadian goodsUnited States and Canada face escalating trade disputes and potential tariffs. Negotiations are intensely underway to avoid new trade restr...18 Aug, 2026, 09.55 AM IST
- NRI bought life insurance policy in Dubai from a foreign insurer, got maturity proceeds after returning to India, his claim for tax exemption was denied; he won the case in ITAT for this reasonAn Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life ...18 Aug, 2026, 07.00 AM IST
- India seeks WTO consultations with US over 50% tariff quota on quartz surface importsIndia has sought consultations with the US at the World Trade Organization over Washington’s tariff-rate quota on quartz surface products, ...18 Aug, 2026, 12.37 AM IST
- Right to speedy trial a valuable right of victim too: Supreme CourtIn a bold move, the Supreme Court has reversed an Allahabad High Court decision that postponed a murder trial. It emphasized the importance...17 Aug, 2026, 08.01 PM IST
- Apartment owners can't stop residents of another housing society from using common amenities if sale deed allows it, rules Karnataka HCApartment owners have no exclusive rights over common amenities if they signed sale deed containing a clause giving consent to sharing them...17 Aug, 2026, 07.47 PM IST
- UK based employee sold ESOP worth Rs 26 lakh, declared Rs 1 lakh short-term capital loss, Income Tax dept treated it as unexplained gains; He fights and wins case in ITAT MumbaiUK-based Indian employee sold 1,540 L&T Infotech shares for Rs 26 lakh which he had acquired through ESOPs, declared Rs 1 lakh short-term c...17 Aug, 2026, 11.12 AM IST
- Inherited mother's land, converted it into business stock, and invested over Rs 5 crore in a new home; ITAT Surat grants Section 54F tax exemption relying on a 1983 CBDT circular; Know whySon inherited 50% of mother’s land and took it in his real estate business as business stock; brought an even larger plot for Rs 2 crore cl...17 Aug, 2026, 10.30 AM IST
- Bihar temple stampede: At least seven killed, several injured in incident at Ashokdham TempleBihar Ashok Dham Temple Stampede: Seven people died and others were injured in a stampede at Ashokdham Temple in Bihar. An unprecedented su...17 Aug, 2026, 10.22 AM IST
- Shah Rukh Khan, Ajay Devgn, Tiger Shroff face FDA notices over pan masala ads; asked to remove promotional posts in 15 daysMaharashtra FDA has issued show-cause notices to Shah Rukh Khan, Ajay Devgn and Tiger Shroff over their endorsement of Vimal Pan Masala/Ela...16 Aug, 2026, 12.11 PM IST
- Tejashwi Yadav doing part-time politics in Bihar: JD(U) leader Sanjay JhaJD(U) leader Sanjay Jha criticised Tejashwi Yadav's proposed march. Jha stated Yadav engages in part-time politics in Bihar. Yadav announce...14 Aug, 2026, 02.12 PM IST
- Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wid...12 Aug, 2026, 11.08 AM IST
- Delhi Government plans 18 direct bus routes to Bihar townsDelhi's government plans direct bus services connecting eighteen points in Bihar. The transport department is drafting an inter-state recip...09 Aug, 2026, 03.47 PM IST
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