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TAX EXEMPTION ALLOWANCES
Delhi HC pauses judges’ ITR processing amid tax exemption rowThe Delhi High Court has halted the processing of judges' income tax returns. This action stems from a dispute over certain allowance exemp...- Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wid...
- Most UPI transactions to stay free: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. A...
- How should my NRI children disclose gifts received from relatives in ITR-2?ET Wealth Reader's Query: My two NRI children are unable to find a field in ITR-2 to disclose gifts received from relatives. The Income Tax...
- Finance panel calls for AI checks for tax refundsA parliamentary committee has identified a concerning surge in income tax refunds that are taking too long to process. To expedite genuine ...
- Parliament clears taxation bill, Sitharaman says UPI transactions to remain freeParliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for ...
- Sold land for Rs 7.24 crore, paid no tax, received income tax notice; Know how Google Earth photos and revenue records helped taxpayer to win this case in ITAT AhmedabadFamily member sold his 1/3rd share of agricultural land for Rs 7.24 crore, pays no tax, tax dept sent notice, he wins case in ITAT Ahmedaba...
- Good news for investors: No income tax on dividends received from REITs and InvITs in this case, Lok Sabha passes the bill; Check the detailsThe Lok Sabha passed a bill amending tax laws on August 6, 2026. This amendment benefits REIT and InvIT investors by exempting dividend inc...
- REITs set to gain tax flexibility, cash flow boost under new BillIndian REITs could gain greater tax flexibility under the Taxation and Other Laws (Amendment) Bill, 2026, which allows SPVs to opt for conc...
- Gratuity tax deduction denied due to ITR filing error? ITAT Chennai says genuine claims can't be rejectedDue to incorrect schedule in original ITR gratuity tax deduction under Section 43B denied; ITAT Chennai gives relief and says a genuine ded...
- NPS for NRIs: Who can invest, tax benefits, eligibility, withdrawal rules explainedNon-Resident Indians have the opportunity to secure their retirement through investment in the National Pension System (NPS). This program ...
- Lok Sabha passes Taxation and Other Laws (Amendment) Bill to boost foreign investment, electronics manufacturingThe Lok Sabha passed a bill to attract foreign investment and promote domestic manufacturing. This legislation aims to provide greater tax ...
- India’s new 15-year tax break could unlock global rough diamond tradeIndia is closer to becoming a global rough diamond hub. A new tax exemption will attract foreign companies to trade rough diamonds. This me...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- Govt unveils tax overhaul to woo global investors, boost manufacturingA new bill aims to attract foreign investment and support key industries. It eases rules for offshore funds and global fund managers operat...
- Govt proposes easier compliance for foreign firms using Indian data centresThe Taxation and other laws (Amendment) Bill, 2026, introduced in the Lok Sabha on Tuesday, reduces reporting requirements for foreign comp...
- Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LSA groundbreaking bill has been introduced to boost foreign investment while fostering local manufacturing in India. By simplifying regulati...
- NRI selling property, shares or gold in India? Here's how you can manage your capital gains tax in a better waySelling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Property sales offer significant tax redu...
- Reconfigured tax laws to help activate investments, boost manufacturing & foreign capitalThe government is set to introduce the Taxation and Other Laws (Amendment) Bill, 2026, extending tax incentives for electronics manufacturi...
- India proposes extending tax breaks for contract manufacturing in a boost for AppleIndia has proposed extending tax exemptions until 2041 for foreign companies supplying machinery and components to contract manufacturers, ...
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