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DIRECT TAX PRESUMPTIVE TAXATION
Delhi HC pauses judges’ ITR processing amid tax exemption rowThe Delhi High Court has halted the processing of judges' income tax returns. This action stems from a dispute over certain allowance exemp...- Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wid...
- Man did not disclose UAE bank account and foreign shares in ITR, I-T dept imposed Rs 1.86 lakh penalty; He escalates the case but ITAT Delhi offers no reliefDubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Sche...
- India's net direct tax collections jump 23% to Rs 8.11 lakh crore, non-corporate taxes lead gainsIndia's net direct tax collections surged 23.09 percent to ₹8.11 lakh crore as of August 10. Non-corporate tax collections rose significant...
- States should mine more, not tax more: The fiscal lesson from OdishaNew legislation will remove state powers to levy taxes on minerals. This change is expected to encourage investment and increase mineral pr...
- India's net direct tax collection rises 23% to Rs 8.11 lakh crore as of August 10India's net direct tax collections grew 23.09 percent year-on-year to Rs 8.11 lakh crore. Gross direct tax collections increased 19.75 perc...
- Paid Rs 6.5 crore and bought a property with stamp duty value of Rs 8.85 crore, got income tax notice for unexplained investment; He fought back won relief in ITATBuyer purchased Rs 8.85 crore worth property by paying Rs 6.5 crore; Tax dept sent notice for unexplained property investment u/s 69B; Know...
- Most UPI transactions to stay free: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. A...
- Parliament clears taxation bill, Sitharaman says UPI transactions to remain freeParliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for ...
- REITs set to gain tax flexibility, cash flow boost under new BillIndian REITs could gain greater tax flexibility under the Taxation and Other Laws (Amendment) Bill, 2026, which allows SPVs to opt for conc...
- Govt extends ED Director Rahul Navin's tenure beyond August 13Enforcement Directorate Director Rahul Navin's tenure has been extended by one year. This extension will keep him in his role until August ...
- Lok Sabha passes Taxation and Other Laws (Amendment) Bill to boost foreign investment, electronics manufacturingThe Lok Sabha passed a bill to attract foreign investment and promote domestic manufacturing. This legislation aims to provide greater tax ...
- India’s new 15-year tax break could unlock global rough diamond tradeIndia is closer to becoming a global rough diamond hub. A new tax exemption will attract foreign companies to trade rough diamonds. This me...
- 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...
- Govt proposes easier compliance for foreign firms using Indian data centresThe Taxation and other laws (Amendment) Bill, 2026, introduced in the Lok Sabha on Tuesday, reduces reporting requirements for foreign comp...
- 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...
- Confused about ITR forms? Here's how to pick the correct ITR for AY 2026-27Choosing the right Income Tax Return form for AY 2026-27 depends on income sources. ITR-1 now allows reporting income from two house proper...
- Opting for presumptive taxation while filing ITR? You may have to face tax audit; here’s what you must knowPresumptive taxation simplifies income computation for eligible taxpayers. However, a tax audit may be required if actual income falls belo...
- ITR-4 or ITR-3? Know which ITR form to file under presumptive taxation scheme and the documents requiredTaxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individual...
- Presumptive taxation: Why some taxpayers could pay more tax under the new Income Tax Act
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