CBDT receives around 1,100 applications under foreign assets disclosure schemeSince the launch of the Foreign Assets of Small Taxpayers Disclosure Scheme, approximately 1,100 taxpayers have submitted applications. The...
26 Oct, 2026, 08.07 PM IST
Income Tax Department nudges taxpayers holding undisclosed foreign propertiesThe Income Tax Department is encouraging taxpayers to declare undisclosed foreign assets through the FAST-DS initiative. A new e-filing por...
26 Oct, 2026, 06.31 PM IST
India's gold import route changing course for a benefit all jewellers wantIndia is diversifying its gold import sources as expanding domestic refining capacity, tax incentives and the India-UAE trade pact reshape ...
26 Oct, 2026, 01.32 PM IST
In 2019, a woman bought a Missouri home at a tax sale; a beneficiary deed complicated who really owned it; what exactly happened?The case is Diana J. Thompson and other v. Heirs of Kathryn L. Metcalf and others. In 2016, a woman in Marshall, Missouri, signed a benefic...
24 Oct, 2026, 08.31 PM IST
In 2021, a Pennsylvania property was sold at a tax sale; one owner's notice challenge changed the case; what exactly happened?In order to sell the property, the Tax Claim Bureau petitioned the Delaware County Court of Common Pleas on January 20, 2021. The hearing t...
23 Oct, 2026, 06.36 PM IST
Anilkumar Bolla, Rs 240 crore UAE lottery winner who became a multi-millionaire says the biggest change in his life is being able to spend more time with familyAnilkumar Bolla UAE lottery winner: Indian expat Anilkumar Bolla won the UAE Lottery’s Dh100 million jackpot in October 2025. A year later,...
23 Oct, 2026, 03.00 PM IST
Retired bank employee claims tax exemption on Rs 9.53 lakh leave encashment, faces income tax notice and wins full relief at ITAT JaipurAfter retiring from the State Bank of India, Chhaju found himself facing a tax exemption cap of Rs 3 lakh on his leave encashment totaling ...
23 Oct, 2026, 08.39 AM IST
I-T likely to send notices over undisclosed foreign propertyThe Income-Tax Department will send notices to resident Indians regarding undisclosed foreign properties. Information was obtained through ...
23 Oct, 2026, 12.24 AM IST
WinnDevelopment began a $21.5 million overhaul of an 83-year-old vacant high school in 2019, it later reopened with 70 senior apartments, here's howThe former East Haven School had been vacant for about 20 years. The building had served as the town's high school since 1936. WinnDevelopm...
22 Oct, 2026, 01.25 AM IST
Income Tax Rules 2026: CBDT notifies Form 173A to claim exemption on interest, capital gains from government securitiesIn a significant update, the Central Board of Direct Taxes has rolled out Form 173A, effective from October 19, 2026, under the Income-tax ...
21 Oct, 2026, 12.35 PM IST
I have LTCG tax liability of Rs 16 lakh from land sale; should I pay income tax or reinvest to save?ET Wealth Reader's Query: I am 57. I recently sold a piece of land near Jewar airport, resulting in a long-term capital gains (LTCG) tax li...
20 Oct, 2026, 03.23 PM IST
In 2021, a Pennsylvania woman's property was auctioned over a $7,771 tax bill; she claimed she was told the notice concerned a trailer, but court rejected her appealThe tax bureau had sent her a certified letter about the unpaid taxes in April 2020. In that same year, it sent her another notice by certi...
19 Oct, 2026, 09.22 PM IST
Transferring immovable property? How TDS compliance is now simpler with new Form 141With the introduction of Form 141, taxpayers can easily report TDS by combining several earlier forms into one streamlined approach. This u...
17 Oct, 2026, 04.27 PM IST
Homeowner sold redeveloped flat for Rs 1.95 crore, paid no income tax, received a tax notice; wins relief in ITAT MumbaiAfter redevelopment of housing society, homeowner sold his flat for Rs 1.95 crore, pays no tax, got tax notice, wins case in ITAT Mumbai fo...
15 Oct, 2026, 02.43 PM IST
₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here's why taxpayer wins at ITAT DelhiThe Delhi Income Tax Appellate Tribunal quashed the assessment against Mr. Sehgal regarding alleged undisclosed cash. The Income Tax Depart...
15 Oct, 2026, 10.49 AM IST
Canada-based senior citizen faced income tax liability of ₹83.2 lakh as STCG; here's why he wins at ITAT Bengaluru on technical groundA recent ITAT ruling highlights the critical importance of following proper legal procedures in income tax reassessment cases. When a taxpa...
14 Oct, 2026, 01.13 PM IST
When do you need a tax residency certificate to claim lower tax rate under DTAA for Tax Year 2026For Indians earning income from overseas, securing a tax residency certificate is essential to avail benefits under the Double Taxation Avo...
10 Oct, 2026, 01.26 PM IST