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INCOME TAXPAYERS EXCLUSION
Paying rent but not receiving HRA? Here’s how non-salaried individuals can claim tax deductionSelf-employed individuals and salaried employees not receiving House Rent Allowance (HRA) can claim tax benefits for rent paid under Sectio...- Maximum 39% marginal rate of income tax applicable for these individuals in Tax Year 2026-2027Individuals and certain entities will face a maximum 39% income tax rate under the new tax regime for Tax Year 2026-2027. This Maximum Marg...
- Zero income tax on Rs 15 lakh CTC? Here’s how these allowances and perks can cut your tax under new tax regimeSalaried individuals can significantly reduce their tax liability under the new tax regime by strategically utilizing allowances and perqui...
- Old vs new tax regime: Key differences that you must know before ITR filing for tax year 2026-27The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...
- Tax deadline 2026: How to get a tax filing extension and avoid penaltiesTax season is here in the US and many people may not finish filing on time. A tax extension gives extra months to file returns, but taxes m...
- New ITR forms for AY 2026-27: NRIs opting for new presumptive income scheme have to make this separate disclosure additionallyNew ITR forms for AY 2026-27 mandate Non-Resident Indians (NRIs) opting for the presumptive income scheme to separately disclose gross rece...
- Confused by IRS ‘Fresh Start’? Urgent warning reveals what millions are getting wrongMany people misunderstand the IRS Fresh Start rules and think it wipes out tax debt. Experts warn this is not true. It is not a special pro...
- 61,000 crorepati taxpayers added in last one yearIndia saw a significant rise in wealthy taxpayers. Over 61,000 new individuals joined the crorepati club, bringing the total to 351,000. Th...
- After STCG ruling, now LTCG also allowed to get Section 87A tax rebate, rules ITAT ChennaiOn August 20, 2025, Chennai ITAT allowed Section 87A tax rebate on long term capital gains (LTCG). This decision favors taxpayers with inco...
- CBDT notified amendment in Faceless penalty scheme, allowing mandatory personal hearingThe amendment has omitted the Regional Faceless Penalty Centre from the Faceless Penalty Scheme and provides that electronic records shall ...
- Finance Minister Nirmala Sitharaman lays foundation for Income Tax office buildingRecycled water will be used for gardening and dual plumbing. The Central Air Cleaning system will be equipped with magnetic filter and UV-R...
- Paying advance tax on dividend income made easier, to help save late payment interestThe FM's budget proposal will bring payment of dividend tax on par with capital gain tax in terms of compliance which is paid only after re...
- Income from distribution rights is not royalty: ITATAs per the details of the case a US based company had provided exclusive distribution rights to an Indian company. The Indian company could...
- Here's what govt's Taxpayers' Charter promises and expects from income tax payersPM Narendra Modi launched a platform for honouring the honest taxpayers. One of the key features of the platform is the Taxpayers' Charter ...
- Income tax e-assessment helpline phone number, email IDThe helpline phone number and email ID launched by the income tax department will help the taxpayers to get assistance regarding the income...
- India Inc’s IPL ticket spend to qualify as deductibleITAT ruling to benefit FMCG, consumer durables and telecom companies.
- Travel expense not allowed as deduction from NRI’s income, rules tax tribunalAs the connection between travel expenses and the income earned was not substantiated, it was denied as a deduction in the NRI’s hands.
- Income Tax department's Bengaluru processing centre gets unique pin codeThe postal department has allotted the pin code to the CPC to ensure that letters and mails sent by taxpayers are not lost and reach the ce...
- Budget 2016: Special wing created in IT dept to resolve taxpayer complaintsThe IT department is witnessing a re-designation of posts to include grievance redressal and taxpayer services as an essential charge of wo...
- Income Tax department launches upgraded website for taxpayersIncome Tax department has launched an upgraded version of its official web portal featuring better links for taxpayer services and grievanc...
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