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INCOME TAX PENALTY RULES
Income tax guide: Allowance and reimbursement exemption limits every salaried employee should know- Income tax penalties explained: Under-reporting, not furnishing ITR, and more -Defaults and penalties under different sections
- Taxation simplified for influencers: Correct ITR form, tax regime to grey zone areas, key checks and tax traps creators must watch out for
- Presumptive taxation: Rebate to losses & deductions, what is the practical impact of changes under Income Tax Act, 2025Under the old Income Tax Act, 1961, the regime operated under three separate provisions. The new Income Tax Act, 2025 consolidates them int...13 Jul, 2026, 11.29 AM IST
- GST Tax officer can allege fraud first and prove it later, Rules Madras High Court; Why this matters to every taxpayerGST officers can now issue fraud notices with a reasonable basis. Proof of fraud is not required at the initial notice stage. Businesses mu...13 Jul, 2026, 10.32 AM IST
- 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...13 Jul, 2026, 09.00 AM IST
- How to check Annual Information Statement (AIS) before filing ITR: Step-by-step guideTaxpayers must review their Annual Information Statement before filing their Income Tax Return. This statement details financial transactio...11 Jul, 2026, 04.43 PM IST
- NRI sells his Bangalore property for Rs 2.63 crore, declares Rs 16.33 lakh LTCG, gets tax notice; he fights and wins partial relief from ITAT for this reasonSold property for Rs 2.63 crore and reported Rs 16.33 lakh LTCG, claimed home loan interest, travel, water, electricity and brokerage as ex...11 Jul, 2026, 07.38 AM IST
- UK tax rule weakens FCNR deposit appeal for wealthy NRIsA steep UK tax on 'global earnings' and the bar on treating interest on certain loans as 'deductible' have reduced the appeal of foreign cu...11 Jul, 2026, 01.05 AM IST
- 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...10 Jul, 2026, 12.39 PM IST
- 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...10 Jul, 2026, 11.06 AM IST
- Have foreign income or assets? AIS to soon show foreign assets and income details shared by foreign countriesThis is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an administrative order that authorizes...10 Jul, 2026, 10.43 AM IST
- Demerger may not be tax-neutral if holding company issues shares: Mumbai ITATMumbai ITAT ruled demerger share issuance by holding company invalidates loss carry-forward. A subsidiary receiving business must issue sha...09 Jul, 2026, 01.04 PM IST
- ITR filing 2026: NRIs need to file Schedule FA in ITR to declare foreign asset for AY 2026-2027 in this caseResident and ordinarily resident individuals must report foreign assets. This disclosure is required in Schedule FA of the income tax retur...09 Jul, 2026, 11.06 AM IST
- Filing ITR for FY 2025-26? Income Tax Department shares 10 mistakes to avoid and tips to followTaxpayers should gather documents and choose the correct tax regime and ITR form. Verify Annual Information Statement and Form 26AS details...08 Jul, 2026, 04.41 PM IST
- Income tax slabs for Tax Year 2026-2027, FY 2025-26 (AY 2026-27) under the new tax regimeThe new Income Tax Act, 2025, takes effect from April 1, 2026, maintaining current tax slab rates. Highest tax rate remains 30% for incomes...08 Jul, 2026, 02.20 PM IST
- 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...08 Jul, 2026, 12.08 PM IST
- Are you eligible for the COVID tax refund? The July 10 deadline could cost you an IRS refund foreverAre you eligible for the COVID tax refund? That's the question many Americans are asking as the July 10 deadline approaches. It's not a new...06 Jul, 2026, 09.47 PM IST
- From cash receipts to property deals: 8 key income tax limits every taxpayer should know to avoid penaltiesNew rules under the Income Tax Act 2025 are set to curb tax evasion by limiting cash transactions. Individuals cannot receive over Rs 2 lak...06 Jul, 2026, 04.58 PM IST
- 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.06 Jul, 2026, 11.21 AM IST
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