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LEGAL HEIRS INCOME TAX RESPONSIBILITIES
Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should do- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law says
- Employees exercising their ESOPs should know how a recent ITAT ruling will determine whether the benefit is taxed as perquisite or capital gains
- IIFL Finance shares drop 8% as IIFL Home Finance gets Rs 963 crore tax demandIIFL Finance shares fell sharply on Tuesday after subsidiary IIFL Home Finance received a Rs 963.39 crore income tax demand covering April ...25 Aug, 2026, 01.43 PM IST
- If I sell my property jointly owned with my wife, can I buy the new one in my name for LTCG tax exemption?ET Wealth Reader's Query: I jointly own a property with my wife, although it was funded entirely by me. If I sell this property, is it nece...25 Aug, 2026, 07.30 AM IST
- Delhi HC raps I-T dept over Rs 53 crore Vodafone Idea refund delayThe Delhi High Court has ordered the income tax department to refund Vodafone Idea ₹53.09 crore. This refund is for assessment years 2003-0...25 Aug, 2026, 12.09 AM IST
- Selling inherited property? Know who is liable to pay income tax on capital gains and how heirs can claim tax reliefSelling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief.24 Aug, 2026, 05.00 PM IST
- Rs 5.31 lakh income tax refund denied as taxpayer did not claim it in the original ITR; he approaches ITAT Delhi and wins the case to get tax refund with interestRs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Section 148 ITR; ITAT Delhi orders t...24 Aug, 2026, 04.27 PM IST
- Karol Bagh man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reasonBlack money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delh...24 Aug, 2026, 04.14 PM IST
- Employee got Rs 30 lakh salary after job switch, did not file ITR, Income Tax dept imposed Rs 3.74 lakh penalty; he fought and won the case in ITAT DelhiEmployee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept sent notice and imposed Rs 3.74 lak...23 Aug, 2026, 08.42 AM IST
- Can the IRS EITC 2026 really deliver up to $8,231? Check these income and child rules before filing Form 1040The IRS EITC 2026 can put up to $8,231 back into the hands of eligible workers. But it is not a payment for everyone. Your earned income, f...22 Aug, 2026, 09.34 PM IST
- IRS final notice of Intent to Levy: What 30 days means before the IRS can seize money or propertyThe IRS Final Notice of Intent to Levy is a serious warning. It can come before the IRS takes money or property to collect an unpaid tax de...22 Aug, 2026, 09.01 PM IST
- US proposes new tax credit rules restricting refunds for some non-citizensThe US Treasury and IRS have proposed new rules restricting the refundable portion of four federal tax credits to US citizens, nationals an...21 Aug, 2026, 03.50 PM IST
- Plant 500 trees and explain Rs 11.22 crore additional income: A rare direction from ITAT Chandigarh asks taxpayer with Rs 1.79 lakh income shown in ITRThis Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer found large cash deposits, unsecured l...21 Aug, 2026, 07.10 AM IST
- 8 income tax notices that salaried employees can get after filing ITR; know what they mean and how to respondEmployees who are on a salary may find themselves receiving tax notices following their income tax return filings. These notices typically ...20 Aug, 2026, 02.30 PM IST
- Should I make my foreign national son a co-owner of my properties for inheritance?ET Wealth Reader's Query: I’m a single parent and my only son is now a foreign national. I want to safeguard his interests and am wondering...20 Aug, 2026, 12.09 PM IST
- Succession Planning: 8 key tax considerations you should take into accountSuccession planning involves connected legal and tax events, not just death. Income earned before death must be reported by the deceased's ...18 Aug, 2026, 03.18 PM IST
- Should I sell my flat and invest to earn interest, or keep it and earn rent in my retirement?ET Wealth Reader's Query: I own a two-bedroom flat in Bengaluru, which is about 10 years old, and have no outstanding loan. I am a senior c...18 Aug, 2026, 11.53 AM IST
- Delhi Lakshmi Yojana: Ineligible beneficiaries to face aid stoppage, recovery of duesDelhi's Lakshmi Yojana is designed to assist women between the ages of twenty-one and sixty with financial resources. Ongoing applications ...17 Aug, 2026, 10.05 PM IST
- Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exemptRetirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It...13 Aug, 2026, 10.47 AM IST
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