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TAX NOTICE FOR UNEXPLAINED PROPERTY
Wife paid Rs 58 lakh from Indian bank a/c, husband paid Rs 80 lakh from UAE bank a/c for property purchase; she gets tax notice for unexplained investment, wins case in ITAT Mumbai for this reason- Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax notices
- ITR filing: Received Section 143(1) intimation with tax demand? Respond within 30 days or risk being treated as an ‘assessee in default’; know how to do it
- Meta under fire over curbs on Delhi protest contentThe Internet Freedom Foundation has concerns about Instagram's handling of protest content. Users report protest reels are marked as sensit...22 Jul, 2026, 08.35 PM IST
- Name appearing in builder's records showing cash payment: Will you need to pay income tax for such property purchase? Here’s what ITAT saidCan the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party ...22 Jul, 2026, 02.16 PM IST
- How to select the right ITR form based on your income for AY 2026-2027Choosing the right income tax return form for AY 2026-27 depends on income sources. Individuals can now report two house properties using I...22 Jul, 2026, 12.48 PM IST
- ITR filing: Claimed capital gains exemption? The 3-year tax trap that may trigger income-tax noticesMany taxpayers wrongly believe that capital gains deposited in the Capital Gains Account Scheme (CGAS) become taxable only on withdrawal. T...22 Jul, 2026, 12.37 PM IST
- Registration of redevelopment agreement alone doesn’t trigger tax, rules ITATMumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse pr...22 Jul, 2026, 09.42 AM IST
- SC quashes case against Standard Chartered Bank over violations of FERA provisionsThe Supreme Court quashed a 23-year-old criminal complaint against Standard Chartered Bank. This decision provided relief to the bank after...21 Jul, 2026, 09.27 PM IST
- He ignored mild back pain for months, was initially diagnosed with musculoskeletal issues, but one blood report revealed truth. Doctor reveals one ‘clinical red flag’ in older malesTaking to X, an internal medicine expert warned people, especially elderly men not to ignore backache for long as sometimes, it can be a sy...20 Jul, 2026, 06.11 PM IST
- India vs US real estate: Transparency, legal protection, fraud risks, and what NRIs should consider before buying propertyIt is relatively easier to reliably buy or sell property in the United States, compared to the process in India, which can be fraught with ...20 Jul, 2026, 12.07 PM IST
- 7 big income tax changes for 2026-27 that may reduce penalties for small mistakesNew income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from Octo...20 Jul, 2026, 11.57 AM IST
- These property sellers may need to re-compute advance tax after delayed release of Cost Inflation Index for tax year 2026-27; here’s what to doProperty sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property...18 Jul, 2026, 01.12 PM IST
- NRI woman sold her property in Gujarat for Rs 21 lakh, tax dept sent notices, she missed them as she lived abroad; later she files case and wins in ITAT AhmedabadITAT overturns STCG tax on Gujarat house sale: When Kaminiben, an NRI from Anand, Gujarat, sold her house for Rs 21.4 lakh in AY 2018-19, w...17 Jul, 2026, 10.13 AM IST
- Income tax on gifts: Received cash, property or shares? You may have to pay tax and report it in your ITR in these casesGifts from specified relatives are fully exempt from income tax. Non-relative gifts exceeding certain values become taxable under specific ...16 Jul, 2026, 03.33 PM IST
- ITR 2026: Common income tax return filing mistakes that cost employees lakhsA careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensur...16 Jul, 2026, 12.12 PM IST
- Not spicy food. Not even caffeine addiction. Doctor says the culprit behind stomach cancer is unexpected and surprisingly commonAlthough a diet heavy in rich and oily foods is ultimately bad for your health, it does not necessarily increase the risk for stomach and g...15 Jul, 2026, 03.56 PM IST
- Home loan interest column for self-occupied house disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027Home loan interest column for self-occupied house is disabled in ITR utility? Know what to do while ITR filing for AY 2026-2027. The reason...15 Jul, 2026, 02.21 PM IST
- Bengaluru landowner sells 17 apartments, earns Rs 11.8 crore LTCG, pays no tax; I-T dept sends notices; he contests and wins in ITAT BangaloreLandowner sells 17 apartments, earns Rs 11.8 crore gains, paid no tax, reinvests gains into 5 properties; tax dept sent notice; he wins cas...14 Jul, 2026, 03.19 PM IST
- NRI sells his Bangalore property for Rs 2.63 crore, declares Rs 16.33 lakh LTCG, gets tax notice; he fights and wins partial relief from ITAT for this reasonSold property for Rs 2.63 crore and reported Rs 16.33 lakh LTCG, claimed home loan interest, travel, water, electricity and brokerage as ex...11 Jul, 2026, 07.38 AM IST
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