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Absolut vodka maker Pernod Ricard withdraws plea against $314 mn India tax demand- INR exchange rate while filing ITR to report foreign assets: Use this reference rate to convert foreign currency into INR as prescribed under income tax rules
- ITR filing: Got Section 143(1) intimation after filing your income tax return? Here’s what it means
- Britain's new Prime Minister to cut taxes on electricity billsThe new British Prime Minister Andy Burnham will cut taxes on electricity bills. This move aims to ease the ongoing cost-of-living crisis f...21 Jul, 2026, 11.43 AM IST
- India says no proposal to offer long-term tax relief for domestic equity investorsIndia's finance ministry confirmed no plan to remove equity LTCG tax. This clarification follows recent tax easing for foreign investors in...20 Jul, 2026, 04.42 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
- ITR filing: How Bitcoin, NFTs, airdrops, gifted crypto, and overseas wallets are taxed in India and how to report themIndia's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty percent tax on gains and one percen...20 Jul, 2026, 11.50 AM IST
- Income tax return: How to report capital gains correctly to avoid ITR filing mistakesAll disclosure of capital gains must be filed in Schedule CG. This schedule houses separate sections for different types of gains. For accu...20 Jul, 2026, 11.45 AM IST
- ITR-4 or ITR-3? Know which ITR form to file under presumptive taxation scheme and the documents requiredTaxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individual...20 Jul, 2026, 11.23 AM IST
- How a Meerut slum woman masterminded a Rs 357 crore income tax return fraud from a 25-sq-yard homeThe Income Tax Department has uncovered a large tax refund fraud racket. A 30-year-old woman allegedly created fake deductions worth crores...18 Jul, 2026, 04.04 PM IST
- Employee wrongly reported Rs 65.21 lakh VRS payout in ITR, lost tax relief; ITAT Pune rules the amount is not taxable and grants him reliefEmployee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and g...18 Jul, 2026, 03.08 PM 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
- 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 ...18 Jul, 2026, 10.19 AM IST
- Cost Inflation Index: How it can help you file your income tax returnThe Income Tax Department has announced the Cost Inflation Index for the upcoming tax year. This index, set at 384, will adjust asset acqui...17 Jul, 2026, 10.43 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
- Salaried employee earning Rs 68 lakh donates Rs 12 lakh to political party, claims tax deduction; I-T dept denies it; he contests but loses in ITAT AhmedabadEmployee with Rs 68 lakh salary donated Rs 12 lakh to political party for Section 80GGC tax break; ITAT Ahmedabad upholds tax dept's order ...15 Jul, 2026, 10.38 AM IST
- Net direct tax mop-up jumps 16% to Rs 6.5 lakh croreIndia's net direct tax collections increased by 16.4 percent to ₹6.51 lakh crore. Corporate tax collections saw a significant 22 percent ri...15 Jul, 2026, 06.07 AM IST
- India's net direct tax collections rise 16.4% to Rs 6.51 lakh crore as of July 13Net direct tax collections have increased sixteen point four percent year-on-year. Gross direct tax collections also saw a sixteen point on...14 Jul, 2026, 03.17 PM IST
- Income tax guide: Allowance and reimbursement exemption limits every salaried employee should knowSalaried employees should know income tax exemption limits for various allowances. Leave Travel Allowance is exempt for self and family tra...13 Jul, 2026, 02.31 PM IST
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