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TDS Challan correction for Income Tax Act, 2025 needs to be done using the old TRACES portal; Here’s how to do itTaxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed unde...- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...
- Investing abroad? These 7 costly mistakes could trigger an income tax noticeWealthy Indians are investing more abroad. However, they must understand the rules to avoid trouble. Mistakes like misusing investment rout...
- Paying rent above Rs 50,000? Failure to deduct TDS can make you an assessee in default; know what to doTenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is ...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...
- FPIs get tax relief on gilts, ease of InvestmentIn a strategic step to lure foreign investment, India has eliminated taxes on capital gains and interest for overseas investors in its gove...
- Want to exchange old gold for new jewellery? Beware of these taxesIndians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-valu...
- CCPA imposes Rs 7 lakh penalty for misleading claims relating to UPSC civil services examination resultsThe Central Consumer Protection Authority has fined Vajiram and Ravi IAS Study Centre Rs 7 lakh. The coaching institute published misleadin...
- AkzoNobel rejects €12.5 billion Nippon Paint, Sherwin-Williams takeover offerDulux paint maker AkzoNobel has rejected a massive takeover offer. Rivals Nippon Paint and Sherwin-Williams proposed a €12.5 billion deal. ...
- US companies, shamed by Trump, tiptoe into $166 billion tariff refund raceAfter a landmark Supreme Court ruling, U.S. businesses are strategically striving to salvage billions in refunds from now-invalid tariffs. ...
- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Karnataka HC stays FSSAI advisory on use of Ashwagandha in major relief to US-based Kerry Inc, 7 other firmsIn a significant decision, the Karnataka High Court has granted temporary relief to eight businesses, including Kerry Inc, putting a hold o...
- Robert Vadra withdraws in Delhi HC plea against trial court summons in Haryana land deal caseBusinessman Robert Vadra has withdrawn his petition in the Delhi High Court. The petition challenged a trial court order summoning him in a...
- Zydus to buy Assertio for $166.4 millionZydus is acquiring US-based Assertio Holdings for $166.40 million to bolster its specialty oncology presence in the US. The deal, structure...
- 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...
- Delhi: Saket court grants three-day police custody of Al-Falah University Chairman in PMLA caseJawad Ahmad Siddiqui, Chairman of Al-Falah University, has been granted three days of police custody. This follows his arrest in a money la...
- Dorf-Ketal enters water treatment space with Vasu Chemicals acquisition dealDorf-Ketal Chemicals India has acquired Vasu Chemicals' water treatment business. This move marks Dorf-Ketal's entry into India's industria...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Claim your cash now! Capital One $425 million settlement — here’s how to get paidCapital One settlement 2026 explained: Capital One has agreed to a $425 million settlement. Eligible customers with 360 Savings accounts wi...
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