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TAX RULES IN INDIA
Groom gets Rs 10 lakh cash and gold jewellery from wedding guests. Now he has to keep record of these gifts. But why?A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cousin's gift has sparked a very diffe...- 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...
- Man paid lower income tax by setting off business loss against long term capital gains but received income tax notice; wins case in ITAT DelhiMan pays lower income tax by setting off business loss with long term capital gains but gets income tax notice; Wins case in ITAT Delhi. IT...
- 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–...
- 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...
- 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.
- 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 ...
- Niti Aayog to review export SOPs amid evolving global trade orderIndia plans to evaluate the effectiveness of two export support schemes amidst changing trade dynamics. These schemes, RoSCTL and RoDTEP, h...
- Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reasonIn Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, hi...
- India-UK trade deal: CBIC eases paperwork for UK imports seeking preferential tariffsThe CBIC has made it easier for importers to claim preferential tariffs under the India-UK trade agreement. A valid origin declaration from...
- India doesn't plan huge changes to dispute resolution with foreign companies, source saysIndia will maintain the requirement for local court disputes to be resolved before allowing international arbitration. Although the five-ye...
- Good news: Property purchase from NRIs gets easier as govt amends Form 141; check how it helpsFrom October 1, 2026, Indian property buyers can buy properties from non-residents without getting a TAN. Instead a new system has been lau...
- BRICS tax model needs to reflect reality: FM Nirmala SitharamanIndia will lead both working groups. The meeting also approved terms of reference of the BRICS Tax Support Network. Addressing the BRICS He...
- US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT DelhiRs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how
- BRICS should work together on transfer pricing as disputes burden developing nations: FMFinance Minister Nirmala Sitharaman emphasized the need for BRICS nations to improve collaboration on international taxation. She proposed ...
- BRICS economies must shape global tax rules for next generation, says FM SitharamanFinance Minister Nirmala Sitharaman said BRICS countries need to ensure their views are reflected in the new global tax rules, as decisions...
- JPMorgan to double GIFT City business as $1 billion book expandsJPMorgan Chase & Co. plans to expand its operations at Gujarat's GIFT City in the next few years. The bank aims to double its business in a...
- Jamie Dimon has a message for India: Don’t make foreign capital work harderIndia’s economic momentum and financial-market reforms have not translated into foreign investment flows commensurate with its growth ambit...
- Rs 1 crore foreign asset limit under FAST-DS 2026: What taxpayers must know about undisclosed incomeFAST-DS 2026 prescribes detailed rules for valuing foreign assets, but how should undisclosed foreign income be computed for the ₹1-crore l...
- Freelancer vs consultant vs business owner: How income tax rules differ and what you need to know before filing ITR
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