Salaried employees can claim child education allowance tax exemption under the old tax regime. This exemption is available for up to two ch...

NATO leaders received engraved revolvers and ammunition from Turkish President Erdogan after a summit. Several leaders discovered the conte...

The shipping ministry has granted exemptions for GIFT City entities. These entities can now lease foreign vessels without DGMA permission. ...

Salaried employees face a crucial tax decision between old and new regimes. The new tax regime offers lower tax liability across various in...

The Central Board of Direct Taxes has granted income-tax exemption to NCCL's Core Settlement Guarantee Fund. This tax benefit will continue...

The Income-tax Act, 2025 introduces a new audit trigger for businesses. This change clarifies audit requirements for low-profit businesses ...

Many taxpayers mistakenly believe that rental income from a house gifted to a spouse is taxable in the recipient spouse's hands. This artic...

Income Tax Return (ITR) filing for the assessment year 2026-2027 sees a significant update with a new 'Other Income' column under the Exemp...

A Chennai resident successfully reclaimed his Section 54 tax exemption after a three-year construction delay on his new home, initially den...

Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.

Farage is already under investigation by the standards watchdog over whether he should have declared a £5 million ($6.7 million) donation f...

Airlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move a...

A significant tax relief has been granted to airlines, with India now exempting tax deducted at source (TDS) on aircraft lease rentals paid...

Charitable trusts and institutions that missed the 80G registration renewal deadline have received a one-time reprieve from the CBDT. The t...

The Income Tax Department is intensifying its review of charitable trusts and non-profits, demanding detailed fund utilisation and governan...

ITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sou...

A husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...