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TAX EXEMPTION
Groom gets Rs 10 lakh cash and gold jewellery from wedding guests. Now he has to keep record of these gifts. But why?A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cousin's gift has sparked a very diffe...- Rs 9.91 lakh income tax refund for senior citizen after proving that he mistakenly paid income tax on tax-free bonds; ITAT Delhi order explainedMr Ajay Kumar Bakaya a senior citizen from Gurgaon faced a significant tax issue when he accidentally overpaid income tax on his tax-free b...
- Buying property abroad for your NRI child? Know how much Indian parents can transfer and the tax implicationsNavigating overseas property purchases for NRI/OCI children can be complex for Indian parents, entangled in regulations like FEMA and RBI's...
- Can you save tax by gifting money to your HUF? How Section 99 changes the tax equationMoney or property gifted by a member to an HUF may not be taxable in the HUF’s hands because of the “relative” exemption. But the tax conse...
- Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reasonIn Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, hi...
- Give blood, buy bonds: Countries get creative in hunt for cashRomania is tapping retail investors through an unusual blood-for-bonds program, offering donors access to government securities with yields...
- Delhi HC directs police to decide on bank unions' protest site ahead of Sept 28-30 strikeIn a significant ruling, the Delhi High Court mandated police to locate a new site for the protest organized by bank employees, due by Sept...
- My sister gifted me Rs 37 lakh from land sale. Will she have to pay income tax?ET Wealth Reader's Query: My sister and I received Rs 37 lakh each from the sale of agricultural land in our native place. She has gifted h...
- Stock-picking vs funds: Why professional management can be better for retail investorsThe internet and AI have made financial information more accessible than ever. However, access to information is not the same as acting upo...
- EPF wage ceiling: SC says plea needs no further hearing as Cabinet raises limit to Rs 25,000A plea concerning the Employees Provident Fund wage ceiling was dismissed by the Supreme Court. The Cabinet's recent decision to raise this...
- Can NRIs save income tax by gifting shares to their resident parents? Know these tax rules before transferring sharesWhile giving shares to your parents who reside in your home country might appear as a thoughtful gesture, it has substantial tax considerat...
- Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reasonStudent gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; She wins case in ITAT Delhi; Know ...
- 100% equity NPS schemes have attracted younger investors, says Sriram Iyer, MD & CEO, HDFC Pension FundThe multiple-scheme framework introduced last year, the lower mandatory annuitisation requirement, and the growing focus on non-government ...
- 8th Pay Commission news: Pensioners demand 67% of last pay drawn, Rs 69,000 minimum pay, 3.83 fitment factor8th Pay Commission latest news: Pensioners proposed a 67% pension of last pay drawn and a minimum pay of Rs 69,000. They also recommended o...
- Warren Buffett and IBM: Praying the stock price goes nowhere. The maths explains whyHe is not being clever. He does the arithmetic and shows you exactly how much a falling price would be worth to him. Then he turns on the a...
- Income Tax Dept seized gold, diamonds and silver in a tax search operation from lady’s house and bank locker; she wins case in ITAT MumbaiHow wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept seized her gold, diamond, silver it...
- Gurgaon RWA sought charitable trust registration with rental and maintenance income; ITAT Chandigarh rejected RWA’s appeal for this reasonRWA earned rent by letting out common areas and collected maintenance from residents and seeked charitable trust registration; ITAT Chandig...
- No tax tangle, FPIs keen to move G-Sec money next dayForeign investors are advocating for expedited remittance processes after the Indian government introduced tax exemptions on bonds. They ar...
- Trump administration proposes new rules to strip tax-exempt status from schools that consider raceThe Trump administration has proposed new regulations that could strip schools of their tax-exempt status if they offer targeted support to...
- Retiring early? Know how much tax exemption can employees claim for VRSYou can claim full tax exemption on VRS if the scheme was launched under special framework; Know how it works for employees claiming VRS.
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