Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to confuse the two while filing retu...

Indian residents investing in US stocks face forex gains tax. These gains are taxable as capital gains when US dollars are converted back t...

Mercury Transit in Gemini on May 29, 2026, brings a major shift in communication, intelligence, decision-making, networking, and personal g...

France's 2026 immigration reforms, including civic exams and language tests, have caused concern for many. However, the financially indepen...

Whether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...

Navigating income tax deadlines for FY 2025-26 (AY 2026-27) is crucial to avoid penalties. The Income Tax Department has set specific due d...

The 'no tax on tips' rule made headlines across the US, raising hopes among service workers of major tax relief. But the policy is not as s...

New ITR forms for AY 2026-27 mandate Non-Resident Indians (NRIs) opting for the presumptive income scheme to separately disclose gross rece...

Bengaluru Chief Minister Siddaramaiah announced a significant relief for professional tax payers. The state government will exempt individu...

Cricket legend Sachin Tendulkar successfully argued in court that his income from foreign commercials was from acting, not cricket. This al...

Information technology (IT) is being used extensively in the administration of the state, Chief Minister Basavaraj Bommai said on Friday, a...

Effective from July 1, 2022, TDS will be applicable at the time of transfer of virtual digital assets, crypto and NFTs. The TDS will be app...

The maximum limit amount of gratuity under the Payment of Gratuity Act, 1972 has been enhanced from Rs 10 lakh to Rs 20 lakh vide notificat...

PPF account in the name of HUF is not permitted by the Finance Ministry, HUF can contribute to the PPF account of its members and claim tax...

Dilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.

The gift received by your friend from his/her father is not chargeable to tax under the provisions of I-T Act in the hands of your friend.

The octroi system of cess collection may finally be given a burial in Maharashtra.