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PRESUMPTIVE TAX
Lady sold apartment, took Rs 2.5 lakh cash, bought new apartment from son-in-law, paid no tax, got income tax notice; she fights back and wins case in ITAT Chennai- Bengaluru property tax: e-Khata open house to be held on May 30, 2026 at these areas under Bhoo Guarantee scheme
- Invested in US stocks directly and made forex gains due to depreciating Rupee? Know how to compute tax on forex gains and report it in ITR
- Key changes in ITR 1, 2, 3 and 4 forms in FY 25-26: Reporting of LTCG, buyback losses, F&O, intra-day trading & more; what new forms includeThe Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements for capital gains, trading, and for...09 May, 2026, 11.00 AM IST
- US-based son gets tax notice in India over Rs 11 lakh cash deposit made on behalf of parents during demonetisation; ITAT Delhi cancels notice for this reasonA US-based son, Mr. Bussi, successfully challenged an Indian income tax notice after depositing Rs 11 lakh cash into his parents' account d...04 May, 2026, 11.32 AM IST
- From ₹1K gigs to ₹70 lakh hustle: Techie quits moonlighting to reclaim LifeA young platform engineer from a tier-3 college revealed his intense moonlighting journey, juggling two remote roles to earn Rs 70 lakh ann...21 Apr, 2026, 06.13 PM IST
- Property partition after owner’s death: A guide for legal heirs to divide assetsPartition of a property means the legal division of jointly owned property among co-owners or legal heirs, severing joint occupancy into in...16 Apr, 2026, 05.22 PM IST
- CIC flags lack of tracking system for tax evasion complaints, urges GST authorities to improve transparencyThe Central Information Commission has urged GST authorities to implement a system for tracking tax evasion complaints. Currently, complain...15 Apr, 2026, 06.26 PM IST
- Income Tax Dept tightens disclosure norms under presumptive taxation schemeStarting from the assessment year 2026-27, a new mandate will compel taxpayers utilizing the presumptive taxation system to reveal their ba...15 Apr, 2026, 12.40 AM IST
- New ITR forms alert: Secondary address field added, what taxpayers must knowNew Income Tax Return forms are here for Assessment Year 2026-27. A key change is a new field for a secondary address. Contact details are ...13 Apr, 2026, 02.01 PM IST
- 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...10 Apr, 2026, 12.37 PM IST
- Govt weighs extending presumptive tax regime to renewable energy sectorIndia is considering extending a presumptive tax regime to non-residents in the renewable energy sector, including bio energy. This move ai...10 Jan, 2026, 05.51 AM IST
- Presumptive Rules: Tax heat on content creators, consultantsThe Income-tax department is scrutinizing social media content creators, script writers, and consultants who have filed returns under Secti...16 Sep, 2025, 12.28 AM IST
- Budget 2025: Presumptive tax may cover emerging techThe February 1 budget may expand the presumptive tax regime to include sectors like data centres, AI, and green technology, raising the tur...28 Jan, 2025, 05.30 AM IST
- Partnership structures' presumptive income could come under taxman's lensPartnership structures, which are considered effective for taxation purposes, are set to attract the tax department’s attention after the M...09 Jan, 2021, 02.14 PM IST
- 71% surge in ITRs filed till August; presumptive tax filers jump 8-foldThis was led by a massive eight-fold jump in returns filed by entities under the presumptive tax scheme and 54 per cent increase in e-filin...02 Sep, 2018, 12.40 AM IST
- Tax queries: Presumptive tax only if income is below Rs 50 lakhEvery week, an expert selected by ET answers queries from our readers on income tax and other levies.01 Mar, 2018, 11.49 AM IST
- Tax queries: LLP not eligible to avail of presumptive tax benefitsDilip Lakhani, Senior Chartered Accountant answers queries from our readers on income tax and other levies.10 Jan, 2018, 01.29 PM IST
- Budget 2016: For small businesses & professionals, a way to save money, and a tax headacheTo further keep the compliance burden minimum, those using presumptive taxation scheme are also allowed to pay advance tax by March 15 of t...02 Mar, 2016, 12.33 PM IST
- Tax code brings cheer to SMEsSmall businesses having a turnover of up to Rs 1 crore could see a substantial reduction in their tax liability and compliance costs once t...15 Aug, 2009, 02.49 PM IST
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