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Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains whyRetired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as ta...- Texas parents are ditching the tax-free weekend—here's whyTexas parents are shopping early for school supplies, bypassing the tax-free weekend. Houston families anticipate spending significantly mo...
- Good news for investors: No income tax on dividends received from REITs and InvITs in this case, Lok Sabha passes the bill; Check the detailsThe Lok Sabha passed a bill amending tax laws on August 6, 2026. This amendment benefits REIT and InvIT investors by exempting dividend inc...
- Tamil Nadu Assembly passes resolution batting for 'fair tax devolution' from CentreThe Tamil Nadu Assembly unanimously passed a resolution seeking fair tax devolution. This resolution aligns with constitutional principles ...
- FPIs, trading companies tap Sebi, centre for tax breatherInvestors from abroad are pressing regulators for a decrease in securities transaction taxes to alleviate the burden of double capital gain...
- Lok Sabha clears tax bill to boost electronics manufacturing, ease investment rulesThe Lok Sabha approved a bill promoting domestic electronics manufacturing and foreign investment. Foreign firms producing electronics loca...
- NPS for NRIs: Who can invest, tax benefits, eligibility, withdrawal rules explainedNon-Resident Indians have the opportunity to secure their retirement through investment in the National Pension System (NPS). This program ...
- HC seeks govt reply on auto TDS refund pleaThe Delhi High Court has asked the government for its response on a plea. This plea seeks automatic tax deducted at source refunds for indi...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- Govt unveils tax overhaul to woo global investors, boost manufacturingA new bill aims to attract foreign investment and support key industries. It eases rules for offshore funds and global fund managers operat...
- ‘Ken Griffin isn’t a villain’: Why Jeff Bezos is defending the billionaire Citadel CEO who owns America’s most expensive apartment amid Zohran Mamdani’s $5 million NYC tax planAmazon founder Jeff Bezos has defended billionaire Citadel CEO Ken Griffin, saying “Ken Griffin isn’t a villain”. The development came as t...
- Govt cuts ₹16,688 crore in tax disputes after appeal threshold hikeThe government withdrew thousands of tax appeals after raising litigation limits. This action reduced disputed tax demand by over sixteen t...
- India raises windfall tax on petrol exports to Rs 3.5/litre, diesel to Rs 24/litre from August 3The government has decided to raise the windfall tax on fuel exports, now charging Rs 3.5 per litre for petrol and a steep Rs 24 per litre ...
- ITR refund 2026: Filed income tax return within July 31, 2026 deadline? Here’s when you may get your tax refundTaxpayers who filed their income tax returns by the July 31 deadline are now awaiting refunds. The Income Tax Department processes refunds ...
- India proposes extending tax breaks for contract manufacturing in a boost for AppleIndia has proposed extending tax exemptions until 2041 for foreign companies supplying machinery and components to contract manufacturers, ...
- New Tax Bill sweetens deal for electronics makers, global investorsThe Taxation and Other Laws Amendment Bill, 2026 proposes extending electronics tax incentives until 2041, easing rules for foreign investo...
- Disputed tax demand down Rs 16,690 cr since hike in monetary limit for filing appeals, LS toldHigher monetary limits for tax appeals have reduced disputed tax demand by about ₹16,690 crore, with over 23,000 departmental cases withdra...
- ITAT Mumbai cancels income tax notice over Rs 8 crore compensation to tenants without their consent; rejects I-T department's contingent liability claimBuilder's hired firm wanted to pay 56 tenants additional Rs 8 crore to vacate land; Tax Dept sent notice citing this payment as contingent ...
- Over 5.9 crore income tax returns filed by July 31 for AY27 as deadline closesMore than 5.9 crore income tax returns were filed by the July 31 deadline. This figure represents filings for assessment year 2026-27 by in...
- No input tax credit for the innocent buyer after paying GST? Supreme Court settles who bears the cost when a supplier defaultsThe Supreme Court affirmed Gujarat High Court's decision on CGST Act Section 16(2)(c). This ruling validates the provision requiring tax pa...
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