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INCOME TAX REBATE INCREASE
Export schemes extended amid West Asia crisisThe Centre extended the duty refund scheme Remission of Duties and Taxes on Exported Products (RoDTEP) and the Rebate of State and Central ...- Centre cuts windfall tax on diesel, ATF exports from October 1The Centre has decreased the windfall tax on diesel exports to ₹16 per litre and ATF exports to ₹10.5. This decision, effective from Octobe...
- India extends RoDTEP scheme till December 31, keeps export refund rates unchangedThe government extended the Remission of Duties and Taxes on Exported Products scheme until December 31, 2026. This extension ensures that ...
- In 2001, 125 wind turbines went up on Texas land used for sheep grazing and hunting; those uses continued, while the project paid about $930,000 in school taxesIn Texas, large wind turbines coexist with agricultural activities, allowing farmers to maintain traditional crops and livestock. Many land...
- Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reasonWhen Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs...
- Rs 9.91 lakh income tax refund for senior citizen after proving that he mistakenly paid income tax on tax-free bonds; ITAT Delhi order explainedMr Ajay Kumar Bakaya a senior citizen from Gurgaon faced a significant tax issue when he accidentally overpaid income tax on his tax-free b...
- Man paid lower income tax by setting off business loss against long term capital gains but received income tax notice; wins case in ITAT DelhiMan pays lower income tax by setting off business loss with long term capital gains but gets income tax notice; Wins case in ITAT Delhi. IT...
- Why is your $1,390 IRS payment missing? What Americans need to know about the payment rumor and Trump’s $2,000 tariff dividendIRS relief payment and $2,000 tariff dividend: Rumors of a new federal stimulus check are circulating online again. Digital posts and unsol...
- Groom gets Rs 10 lakh cash and gold jewellery from wedding guests. Now he has to keep record of these gifts. But why?A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cousin's gift has sparked a very diffe...
- Deadlines for income tax audit and ITR filing extended for AY 2026-2027 to these datesThe Central Government has extended the deadline for filing Income Tax Returns for the Assessment Year 2026-27. Taxpayers subject to audit ...
- Can you save tax by gifting money to your HUF? How Section 99 changes the tax equationMoney or property gifted by a member to an HUF may not be taxable in the HUF’s hands because of the “relative” exemption. But the tax conse...
- Not the government: The hidden tax draining India's middle class money
- Niti Aayog to review export SOPs amid evolving global trade orderIndia plans to evaluate the effectiveness of two export support schemes amidst changing trade dynamics. These schemes, RoSCTL and RoDTEP, h...
- FD rate up to 8.3% for senior citizens investing for three years; know the list of banksFor senior citizens aged 60 and above, numerous banks are offering fixed deposit interest rates as high as 8.5%. Jana Small Finance Bank ha...
- Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reasonIn Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, hi...
- Social Security could face a 22% benefit cut in 2032 - here are the changes being discussedSocial Security is approaching a funding gap projected to occur by 2032, necessitating Congressional intervention. Options under considerat...
- US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT DelhiRs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how
- New York energy rebate checks 2026: Who is eligible, when will you get it and how much?New York has begun mailing POWER energy rebate checks to eligible taxpayers in 2026. Payments range from $100 to $200 depending on filing s...
- Can NRIs save income tax by gifting shares to their resident parents? Know these tax rules before transferring sharesWhile giving shares to your parents who reside in your home country might appear as a thoughtful gesture, it has substantial tax considerat...
- FD rate up to 8.5% for senior citizens investing for five years; know the list of banksSelect small finance banks offer senior citizens fixed deposit rates up to 8.5 percent. Suryoday Small Finance Bank provides 8.5 percent in...
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