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GIFT TAX EXEMPTION RELATIVES LIST
Received cash, property or shares as gifts? You may have to pay tax as per ITR reporting rules in these casesGifts from specified relatives are fully exempt from income tax. Non-relative cash gifts exceeding fifty thousand rupees become taxable. Im...- Bengaluru landowner sells 17 apartments, earns Rs 11.8 crore LTCG, pays no tax; I-T dept sends notices; he contests and wins in ITAT BangaloreLandowner sells 17 apartments, earns Rs 11.8 crore gains, paid no tax, reinvests gains into 5 properties; tax dept sent notice; he wins cas...
- 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...
- EPFO Amnesty 2026 Scheme for PF trusts: Eligibility, benefits, application process and key rulesThe Employees' Provident Fund Organisation introduced a six-month Amnesty Scheme in 2026. This initiative allows employers to regularize th...
- CIC directs petroleum ministry arm to share historical petrol, ethanol, profit dataThe Central Information Commission ordered the Petroleum Planning and Analysis Cell to release historical petrol production and import data...
- 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...
- 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...
- Govt eases shipping rules for GIFT City to spur maritime leasing, financeGIFT City IFSC units are now exempt from a specific shipping license. This exemption aims to boost India's maritime leasing and financing e...
- 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...
- Child education allowance tax benefit in ITR filing for FY 25-26: Know when you can claim itSalaried employees can claim child education allowance tax exemption under the old tax regime. This exemption is available for up to two ch...
- Why gifting shares to parents works and why gifting it to your spouse is a different story
- Why Erdogan gave NATO leaders loaded revolversNATO leaders received engraved revolvers and ammunition from Turkish President Erdogan after a summit. Several leaders discovered the conte...
- Govt allows GIFT City units to lease foreign vessels without need for DGMA permissionThe shipping ministry has granted exemptions for GIFT City entities. These entities can now lease foreign vessels without DGMA permission. ...
- Govt extends duty relief for electronics, lithium-ion battery manufacturing till 2029Customs duty concessions on electronics manufacturing parts are extended until March 2029. This move supports investments in battery cell m...
- 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...
- 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...
- 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.
- UK's Farage referred to standards watchdog after new report of undeclared benefitsFarage is already under investigation by the standards watchdog over whether he should have declared a £5 million ($6.7 million) donation f...
- 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...
- 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...
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