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INCOME TAX ACT 1961
Indians turn to side hustles, freelancing as non-salary income rises: ClearTaxIndians are increasingly earning from non-salary sources like trading and freelancing as reported by ClearTax. The percentage of self-filer...- Rs 60 lakh cash deposit in widow's bank account triggers income tax notice for unexplained credit; she fights back and wins in ITAT PuneMs Parve’s counsel argued in ITAT Pune that she is a housewife and never filed her income tax return (ITR) as she had no independent source...
- Delhi techie couple donates Rs 50 to political party, claims Rs 40 lakh ITR deduction, evades Rs 5.3 crore income tax, faces IT probeA Delhi-NCR techie couple allegedly claimed Rs 40 lakh in tax deductions after donating just Rs 50 to a political party. An Income Tax Depa...
- Sold property? You may pay zero tax if these Section 82 rules under Income Tax Act 2025 are metFor Tax Year 2026-2027, Income Tax Act, 2025 is applicable and this means you need to be versed with the renumbered Sections in order to co...
- Income Tax 2026: 3 key changes in deductions & exemptions every taxpayer must knowThe Finance Act, 2026 outlines significant changes in income tax deductions and exemptions for Tax Year 2026-27. Non-resident individuals w...
- Woman joins contractual role for short-term, employer doesn't pay three months salary for taking maternity leave, High Court orders temporary employees should receive that benefit tooChhattisgarh High Court has held that a woman working as a guest lecturer cannot be denied maternity leave salary merely because she is not...
- ED attaches SP leader Azam Khan's Jauhar University property worth Rs 1,170 croreThe Enforcement Directorate has provisionally attached the assets of Mohammad Ali Jauhar University in Rampur. This action is taken under t...
- Indians working in UK: Per diem paid by Indian company may be tax-free in India if these conditions are metIndians working in the UK may receive per diem payments from their Indian employers. However, these payments are generally taxable in the U...
- Own property in UAE? Income Tax Department nudges taxpayers to declare undisclosed assets under FAST-DS 2026, know who needs to act and what they can doUAE property owners have received communication from the income tax department regarding undisclosed assets. Taxpayers are prompted to asse...
- Why is your Social Security taxed, and how much can you save? 5 ways to cut the bill and keep more retirement incomeMany American retirees pay federal taxes on their Social Security benefits, even after spending decades contributing to the system. For peo...
- Can income tax officials take your PPF savings for unpaid tax dues? Know what the law saysDealing with a tax demand? It's essential to grasp how the Income Tax Department can seize dues from different assets, while your PPF accou...
- Supreme Court agrees to examine EY US plea in tax disputeA bench led by Justice PS Narsimha sought a response from the income tax department on appeals filed by Ernst & Young US LLP challenging a ...
- Income-Tax Department nudges taxpayers with UAE and other overseas properties to disclose foreign assets under FAST-DSThe Income-Tax Department is encouraging selected taxpayers to disclose overseas assets under a new scheme. This initiative targets individ...
- 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...
- FD rate up to 8.5% for senior citizens investing for five years; know the list of banksSenior citizens in India have exciting options for fixed deposits, with top banks enticing them with appealing interest rates. Leading the ...
- Income tax audit report deadline today: How to check whether your CA has uploaded report on e-filing portalDon’t miss the deadline on October 21, 2026, for filing tax audit reports for Assessment Year 2026-27! Taxpayers can verify their report up...
- CBDT makes Form 173A mandatory to claim tax exemption on interest and gains from government securitiesThe Central Board of Direct Taxes has introduced Form 173A for income-tax exemption claims. This new form includes detailed information to ...
- Rs 3.41 crore in FCNR deposits tagged as unexplained money despite being held by Dubai-based individual; ITAT Jaipur grants full reliefMrs. Khanwani, a Dubai resident, faced tax notices for unexplained money linked to her FCNR deposits. The ITAT Jaipur ruled in her favor, h...
- 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...
- FD rate up to 8.25% for senior citizens investing for five years; know the list of banksCurrently, multiple banks are offering attractive fixed deposit interest rates that go up to 8.25% specifically for senior citizens. Suryod...
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