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TAX LIABILITY
Returning to India from the UK? Capital gains and inheritance tax may still applyNon-resident Indians should note that leaving the UK doesn't automatically terminate tax residency. Retaining connections might keep your t...- ITR was processed under the old tax regime due to tax consultant's mistake, taxpayer faced Rs 1.23 lakh demand: ITAT Bangalore allowed new tax regimeRs 1.23 lakh tax demand notice sent as man filed ITR with new tax regime but it was processed with old tax regime due to tax consultant’s e...
- Senior citizen FD interest rates of up to 8.50%: Top 5 fixed deposit rates from PSU, private and small finance banksHighest senior citizen FD interest rates: Small finance banks offer senior citizens the highest fixed deposit rates currently. Equitas, ESA...
- GST Council meeting rescheduled to October 7 due to BRICS summitThe GST Council meeting has been rescheduled to October 7 due to the BRICS summit. This meeting will occur after a gap of over a year for t...
- Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite jointly owned property - ITAT Mumbai calls it 'not justified'A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of ...
- Can NRIs gift money to an HUF and save tax? Check these income clubbing and tax rules before transferring fundsNRIs have the opportunity to gift money to their Hindu Undivided Family (HUF) without incurring immediate tax obligations. However, it's im...
- Employee showed Rs 9.6 lakh EPF interest in ITR by mistake, got income tax notice: He fought and got full relief in ITAT MumbaiIncome Tax Dept sent tax notice for Rs 9.6 lakh EPF interest which employee never received but erroneously shown in ITR as received; he fig...
- REITs and InvITs: Despite tax-free dividends, non-resident investors may need to file ITR to claim a refund of TDSThe Taxation and Other Laws (Amendment) Act, 2026 addresses existing dividend tax discrepancies for unitholders by granting unconditional e...
- Victory for Noel Tata as enquiry into share transfer closed; Charity Commissioner finds the Tata Sons deal followed due processThe Maharashtra Charity Commissioner has closed a long-standing inquiry into a 1989 share transfer. This decision confirms the transaction ...
- Robert Kiyosaki says he’s $1.2 billion in debt: Why the ‘Rich Dad Poor Dad’ author says his massive borrowing is part of his real-estate strategyRich Dad Poor Dadauthor Robert Kiyosaki says he is $1.2 billion in debt, but most of the borrowing is reportedly tied to a real-estate port...
- I-T Department searches Dentsu Media Group premises in suspected tax evasion caseIn a sweeping operation, the Income-tax Department has searched Dentsu Media Group's offices throughout India. The focus primarily lies on ...
- Missed August 31 ITR deadline? Know what ITR 3 and ITR 4 filers can do nowITR deadline: By the end of August 31, 2026, over 7.8 crore individuals completed their income tax return submissions. Those who did not fi...
- ITR filing August 31, 2026, deadline today: Due date for AY 2026-27; Check who must file returnITR filing deadline: Taxpayers with business or profession income must file their returns today. This deadline applies to those using ITR-3...
- Finance Act 2026: Updated return rules change for taxpayers reporting reduced lossesThe Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if unaccounted income merely reduced a ...
- F&O tax rules: How derivatives traders should report profits, losses and expensesOne of the biggest misconceptions among retail traders is that profits from F&O are taxed like stock market gains. That is not the case. Un...
- FD rate up to 8.5% for senior citizens investing for five years; know the list of banksFor senior citizens, certain banks have enticing fixed deposit options offering interest rates as high as 8.5 percent. These deposits, with...
- Mahadev Betting case: DGGI seeks ₹40,603 cr in GST from promotersThe DGGI has issued show-cause notices to Mahadev Book promoters for over ₹40,603 crore. These notices propose GST demands and penalties fo...
- Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should doDid someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address income tax notices, file overdue retur...
- Employees exercising their ESOPs should know how a recent ITAT ruling will determine whether the benefit is taxed as perquisite or capital gainsA recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased options are capital assets, not perquisi...
- Selling inherited property? Know who is liable to pay income tax on capital gains and how heirs can claim tax reliefSelling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief.
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