Dubai NRI bought Rs 2.31 crore property, didn’t file ITR, got income tax notice; she fights back and wins in ITAT on these groundsMrs Chudamasa’s counsel argued that the AO had erred in treating Rs 2,31,20,000 as investment made during financial year 2017-18. He submit...
02 Oct, 2026, 09.41 AM IST
Tax audit deadline extended: Key checks taxpayers should make before filing income tax returnThe CBDT has announced an extension for tax audit and ITR filing deadlines for Assessment Year 2026-27. Taxpayers must now file their retur...
01 Oct, 2026, 05.47 PM IST
Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reasonWhen Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs...
30 Sep, 2026, 05.44 PM IST
Rs 9.91 lakh income tax refund for senior citizen after proving that he mistakenly paid income tax on tax-free bonds; ITAT Delhi order explainedMr Ajay Kumar Bakaya a senior citizen from Gurgaon faced a significant tax issue when he accidentally overpaid income tax on his tax-free b...
30 Sep, 2026, 05.43 PM IST
NRE vs NRO FD TDS rules: Tax rate for NRIs, PAN rules, DTAA benefit and repatriation limitWhen it comes to Non-Resident External (NRE) and Non-Resident Ordinary (NRO) fixed deposits, understanding their distinct tax implications ...
30 Sep, 2026, 10.42 AM IST
- Delhi man filing ITR found ₹79 crore unidentified income linked to PAN: Tax details show a Mumbai firm was using his credentials. Know what you should do in this situation
A Delhi resident found that his PAN and identity information were used to register a fraudulent business. The GST registration, linked to a...
29 Sep, 2026, 02.05 PM IST
My NRI status changed. Will interest earned on my NRE FDs be taxable in India?ET Wealth reader's query: I was an NRI until FY2024–25. After relocating to India, my residential status changed to ‘resident’ from FY2025–...
29 Sep, 2026, 12.45 PM IST
Deadlines for income tax audit and ITR filing extended for AY 2026-2027 to these datesThe Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 2026-27. Taxpayers subject to audit ...
28 Sep, 2026, 06.46 PM IST
Buying property abroad for your NRI child? Know how much Indian parents can transfer and the tax implicationsNavigating overseas property purchases for NRI/OCI children can be complex for Indian parents, entangled in regulations like FEMA and RBI's...
28 Sep, 2026, 04.14 PM IST
Moving from UAE to India? 6-step financial homecoming guidebook to manage tax residency, bank accounts, Dubai property, and gratuityTax residency, bank accounts, Dubai property and gratuity all need sorting before and after you fly home.
28 Sep, 2026, 11.55 AM IST
Buying property from an NRI? Know the new TDS, PAN, and Form 141 rules effective October 1Beginning 1 October 2026, resident Indian buyers will enjoy simplified compliance when purchasing property from non-resident sellers. They ...
28 Sep, 2026, 11.29 AM IST
Can you save tax by gifting money to your HUF? How Section 99 changes the tax equationMoney or property gifted by a member to an HUF may not be taxable in the HUF’s hands because of the “relative” exemption. But the tax conse...
28 Sep, 2026, 11.07 AM IST
Mumbai felt safer than US: NRI returns to India after 23 years, shares why he left the American DreamAn NRI who spent 23 years in the US has shared why he eventually moved back to Mumbai, saying he "felt safer" there. After building a caree...
23 Sep, 2026, 01.01 AM IST
Gig workers turn to tax filing as TDS refunds offer cash, financial recordsGig platforms are integrating tax filing assistance into their apps. Many delivery partners receive tax refunds after deductions at source....
19 Sep, 2026, 12.20 PM IST
Can NRIs save income tax by gifting shares to their resident parents? Know these tax rules before transferring sharesWhile giving shares to your parents who reside in your home country might appear as a thoughtful gesture, it has substantial tax considerat...
18 Sep, 2026, 09.21 AM IST
ITR filed under old tax regime by mistake, income tax paid under new regime: How a lady won case in ITAT DelhiFiled ITR under the old tax regime but paid income tax under the new tax regime; ladywins case in ITAT Delhi after proving her accountant m...
17 Sep, 2026, 10.18 AM IST
NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITATThe NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge and had entrusted an accountant with...
15 Sep, 2026, 02.51 PM IST