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PILLAR 2 TAX RULES
Rs 25 lakh cash deposited in bank, income tax officer sends notice for unexplained cash u/s 69; Taxpayer wins case in ITAT Bangalore, here's whyEmployee deposits Rs 25 lakh cash in bank; tax officer sends notice for unexplained cash u/s 69; Employee wins case in ITAT Bangalore; Know...- Gamer invested Rs 2.61 crore to play online rummy and poker games; loses net Rs 28 lakh, files ITR reporting Rs 4 lakh income; gets tax notice; he wins case in ITAT BangaloreGamer invested Rs 2.61 crore to play online Rummy, poker games; loses net Rs 28 lakh, stops playing, files ITR reporting Rs 4 lakh income; ...
- Indian Inc rushes to align with UAE’s 15% minimum tax as November deadline loomsIndian multinationals are assessing their UAE tax exposure before November's deadline. A new 15% minimum tax could affect their existing co...
- Defence Minister Rajnath Singh unveils 10-year defence diplomacy roadmapDefence Minister Rajnath Singh unveiled a ten-year defence diplomacy roadmap. This strategic plan aligns national security objectives with ...
- Govt unveils strategic blueprint on defence diplomacy that outlines India's vision for next decadeDefence Minister Rajnath Singh released India's strategic blueprint for defence diplomacy. This document outlines a comprehensive framework...
- Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite a jointly owned property - ITAT Mumbai calls it 'not justified'A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of ...
- Can an NRI be a nominee for PPF, NSC or SCSS? Here’s what happens to the money after the account holder diesNRIs can now be nominees for India's small-savings schemes like PPF and NSC, a change from 2023. While they can receive proceeds, repatriat...
- Made ₹2 lakh from F&O? Know how options trading profit is taxed before filing ITR
- MSMEs must scale, innovate and go global to power India’s growth: Rajnath SinghRajnath Singh called on MSMEs to move beyond the domestic market and compete globally.
- Can NRIs gift money to an HUF and save tax? Check these income clubbing and tax rules before transferring fundsNRIs have the opportunity to gift money to their Hindu Undivided Family (HUF) without incurring immediate tax obligations. However, it's im...
- South Korea proposes record $597 billion 2027 budget to supercharge AI investmentIn its annual budget proposal, the budget ministry said the spending plan represented a 12.8% rise from 2026, marking the largest year-on...
- Finance Act 2026: Updated return rules change for taxpayers reporting reduced lossesThe Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if unaccounted income merely reduced a ...
- F&O tax rules: How derivatives traders should report profits, losses and expensesOne of the biggest misconceptions among retail traders is that profits from F&O are taxed like stock market gains. That is not the case. Un...
- $40 million Ferrari, $13 million tax twist: 87-year-old billionaire’s charity buy could cut his US tax billHerbert Wertheim purchased a Ferrari electric vehicle for forty million dollars. This significant charitable donation may qualify for a sub...
- New labour code impact: Rs 8k less take home pay likely for employee with Rs 15 lakh CTC; check the impact on CTCs of Rs 10 lakh, Rs 25 lakh and Rs 50 lakhNew labour codes mandate higher provident fund contributions for employees. This change reduces monthly take-home pay for many salaried ind...
- NRI selling inherited property in India? Agricultural land, farmhouse, and plantation property have stricter sale and repatriation rulesNon-Resident Indians (NRIs) hold the right to inherit property in India; however, selling such assets involves navigating a complex set of ...
- Retiring early? Know how much tax exemption can employees claim for VRSYou can claim full tax exemption on VRS if the scheme was launched under special framework; Know how it works for employees claiming VRS.
- Rupee slide, valuation rules put foreign asset disclosure scheme out of reach for manyThe rupee's depreciation and strict valuation rules hinder foreign income disclosure. A one-time voluntary disclosure window allows regular...
- Goyal signals BIS certification exemption for high-tech companies, including those from JapanIndia is developing a framework to exempt high-tech companies from BIS certification. This aims to facilitate the setup of manufacturing fa...
- India sets eyes on 100 more flagged vessels to cut forex outgoIndia plans to add one hundred flagged vessels within five years. This initiative aims to significantly reduce the nation's foreign freight...
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