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TAXABLE GIFTS UNDER INCOME TAX ACT
Received cash, property or shares as gifts? You may have to pay tax as per ITR reporting rules in these cases- Salaried employee earning Rs 68 lakh donates Rs 12 lakh to political party, claims tax deduction; I-T dept denies it; he contests but loses in ITAT Ahmedabad
- The Rs 7.50 lakh myth: Why employer's NPS contribution must be included in salary for claiming deduction under Section 80CCD(2)
- ETMarkets Smart Talk | Equity, mutual funds, bonds or property: Tax rules every NRI should know: Ritu ShaktawatNRIs investing in India must understand tax rules and residential status. Double Taxation Avoidance Agreements offer beneficial tax treatme...14 Jul, 2026, 09.00 AM IST
- Income tax guide: Allowance and reimbursement exemption limits every salaried employee should knowSalaried employees should know income tax exemption limits for various allowances. Leave Travel Allowance is exempt for self and family tra...13 Jul, 2026, 02.31 PM IST
- Taxation simplified for influencers: Correct ITR form, tax regime to grey zone areas, key checks and tax traps creators must watch out forIndian influencers and gig workers face significant tax compliance challenges. Many struggle with tracking income and claiming eligible ded...13 Jul, 2026, 12.02 PM IST
- Presumptive taxation: Rebate to losses & deductions, what is the practical impact of changes under Income Tax Act, 2025Under the old Income Tax Act, 1961, the regime operated under three separate provisions. The new Income Tax Act, 2025 consolidates them int...13 Jul, 2026, 11.29 AM IST
- ETMarkets Smart Talk | Selling property in India? Here's how NRIs can avoid excess TDS: Trilegal's Himanshu SinhaNRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaining a Lower TDS certificate can pre...13 Jul, 2026, 09.00 AM IST
- Confused about ITR forms? Check the right ITR for salaried, pensioners, students and other taxpayersSalaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Taxpayers not requiring an audit can ...10 Jul, 2026, 04.14 PM IST
- SCSS vs MIS: Which offers higher interest on a Rs 5 lakh investment?Senior Citizens Savings Scheme offers a higher interest rate than the Post Office Monthly Income Scheme. An investment of five lakh rupees ...10 Jul, 2026, 04.04 PM IST
- Same-sex couple challenges Income Tax provision that exempts gifts only between spousesThe Karnataka High Court has requested a response from the Union government concerning a petition that challenges a tax exemption clause. T...10 Jul, 2026, 12.39 PM IST
- Income tax slabs for Tax Year 2026-2027, FY 2025-26 (AY 2026-27) under the new tax regimeThe new Income Tax Act, 2025, takes effect from April 1, 2026, maintaining current tax slab rates. Highest tax rate remains 30% for incomes...08 Jul, 2026, 02.20 PM IST
- Opting for presumptive taxation while filing ITR? You may have to face tax audit; here's what you must knowThe Income-tax Act, 2025 introduces a new audit trigger for businesses. This change clarifies audit requirements for low-profit businesses ...08 Jul, 2026, 12.39 PM IST
- Gifted a house to your spouse? You may still have to pay tax on the rental income: Know 7 key things before filing ITR for AY 2026-27Many taxpayers mistakenly believe that rental income from a house gifted to a spouse is taxable in the recipient spouse's hands. This artic...08 Jul, 2026, 12.08 PM IST
- ITR utility updated: New 'other income' column added under exempt income schedule; here's what it meansIncome Tax Return (ITR) filing for the assessment year 2026-2027 sees a significant update with a new 'Other Income' column under the Exemp...06 Jul, 2026, 05.36 PM IST
- ITR filing for NRIs: From miscounted days in India to missed NRO interest, these mistakes can trigger tax noticesMiscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.06 Jul, 2026, 11.21 AM IST
- Govt scraps TDS on GIFT City aircraft lease rentalsAirlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move a...05 Jul, 2026, 06.48 AM IST
- Centre scraps TDS on aircraft lease rentals at IFSCsA significant tax relief has been granted to airlines, with India now exempting tax deducted at source (TDS) on aircraft lease rentals paid...04 Jul, 2026, 12.09 AM IST
- Foreign investments in your portfolio? Follow this ITR checklist to avoid tax scrutinyResident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and ...29 Jun, 2026, 11.22 AM IST
- Husband has to pay income tax on wife’s earnings from FD, gold, shares under clubbing of income in these casesITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sou...27 Jun, 2026, 08.09 AM IST
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