Income Tax Department eases TDS compliance on property bought from non-residents from October 1, removes TAN requirement

Resident individuals and HUFs buying property from non-residents will be able to report TDS through the amended Form 141. The new form will require detailed information about the property, buyers and NRI sellers

Can NRIs save income tax by gifting shares to their resident parents? Know these tax rules before transferring shares

While giving shares to your parents who reside in your home country might appear as a thoughtful gesture, it has substantial tax considerations for NRIs

Will the government extend the September 30 tax audit deadline?

September 30 remains the tax audit deadline for AY 2026-27 unless the CBDT formally announces an extension

When Can Money Sent By An NRI To Parents Attract A Tax Notice?

Money received as a gift from an NRI child is not taxable for parents. However, paperwork may be needed if the transfer comes under the tax department’s scanner

Selling An Inherited House? Here’s How Capital Gains Tax Is Calculated

An inherited house is usually a long-term asset. The previous owner’s purchase date and cost, eligible expenses, and reinvestment determine the taxable capital gain on sale

Income-tax refund delayed? Here is why it may be stuck and how to check status

Taxpayers should remember that successful filing of an ITR and receipt of a refund are two separate stages

Can NRIs gift money to an HUF and save tax? Check these income clubbing and tax rules before transferring funds

NRIs have the opportunity to gift money to their Hindu Undivided Family (HUF) without incurring immediate tax obligations

FAST-DS 2026: Income Tax Department makes Form 1 available for declaring undisclosed foreign assets

The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 allows eligible taxpayers to declare undisclosed foreign assets or foreign-sourced income by December 31, 2026

Raksha Bandhan 2026: Income Tax Rules You Should Know Before Gifting Money

Gifts between siblings are generally tax-free, but the rules differ for non-relatives, while any income earned after investing the gifted money can still be taxed

Over 6.5 crore ITRs filed: Income Tax Department asks taxpayers to file ITR-3, 4, 5, 7 before August 31

Taxpayers filing ITR-3, ITR-4, ITR-5 and ITR-7 without audit requirement must file by August 31

Income tax dept has identified suspicious entities that sent money abroad, launches verification drive; Know what to do

Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspicious entities who sent money abroad; Know what to do

Foreign remittances under scanner: Income Tax Dept flags suspicious overseas transfers

The exercise covers 394 entities, including 117 entities in land-border States, and 36 professionals who issued Form 15CB certificates Read More:

NRI used NRE account to buy Rs 79 lakh property, got ‘unexplained cash’ tax notice; ITAT Ahmedabad grants full relief

NRI used money from his NRE bank a/c to buy property for Rs 79 lakh, files no ITR; tax dept sent notice for unexplained cash; he wins case in ITAT Ahmedabad

Income Tax Department releases ITR-6 excel utility for AY 2026-27; check who should file

The Excel utility is now live on the Income Tax e-Filing portal for companies required to file ITR-6, with updated reporting requirements and disclosure norms for AY 2026-27.

July 31 ITR deadline is over. Which income tax return filing deadline still applies till August 31?

The July 31 deadline has passed for most salaried taxpayers, but business owners, professionals and audit cases still have time.

Income-Tax Refund Delayed? Here’s How Long It May Take And What To Do

Income-tax refunds generally arrive within three to six weeks after e-verification, but mismatches, bank validation failures, and additional checks can extend the overall waiting period

NRI selling property, shares or gold in India? Here is how you can manage your capital gains tax in a better way

Selling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type

Filed Your ITR? These Income Sources May Still Be Missing

Savings interest, dividends, capital gains, freelance receipts, and refund interest are often omitted from tax returns, making a timely review and revised filing important for taxpayers

Why transferring of assets to a Hindu Undivided Family isn't a tax-saving shortcut for salaried taxpayers

Why transferring of assets to a Hindu Undivided Family isn't a tax-saving shortcut for salaried taxpayers

Should you file your own ITR or hire a tax expert?

DIY filing works well for simple salary-based returns, but tax experts say complex investments, foreign assets and business income often require professional help to avoid costly mistakes.

Which ITR to file if you own unlisted shares? Here's what taxpayers need to know

Taxpayers who held unlisted equity shares at any time during the financial year must disclose them in their ITR, even if they were not sold or did not generate any income.

Crypto Gains Left Out Of Tax Returns? Correcting Them Later Can Get Costlier

Taxpayers who omitted crypto income from earlier returns may use ITR-U in eligible cases, but waiting until the tax department detects the mismatch can increase the cost

Income Tax department releases Foreign Assets Information user guide 2026, Here is how to access overseas financial data

Taxpayers can now view the foreign financial account information received by the Indian tax authorities directly from overseas jurisdictions under the Automatic Exchange of Information framework.

ITR filings likely to rise as tax compliance improves: Experts

Return filings have risen steadily over the past four years; experts expect another 8-10% growth this year as AIS reporting, formalisation of income and taxpayer awareness improve compliance.

NRI woman sold her property in Gujarat for Rs 21 lakh, tax dept sent notices

NRI woman sold her property in Gujarat for Rs 21 lakh, tax dept sent notices

Income Tax Department enables foreign assets information in AIS for three calendar years

Income Tax Department enables foreign assets information in AIS for three calendar years

Changed Jobs In FY 2025-26? Here’s What To Check Before Filing Your ITR

Taxpayers who changed jobs during the year should report income from both employers and verify TDS and deduction claims before filing their return

NRI sells his Bangalore property for Rs 2.63 crore, declares Rs 16.33 lakh LTCG, gets tax notice

Sold property for Rs 2.63 crore and reported Rs 16.33 lakh LTCG, claimed home loan interest, travel, water, electricity and brokerage as expenses

Have foreign income or assets? AIS to soon show foreign assets and income details shared by foreign countries

This is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961.

Income Tax Department releases ITR-5 Excel Utility for AY 2026-27; who can file and key deadlines

Businesses, LLPs and other eligible entities can now download the Excel Utility from the Income Tax e-Filing portal

ITR 2026 refunds: Are income tax refunds getting credited faster this filing season?

After filing, e-verification should be completed immediately. A return that is filed but not e-verified will not move for processing.

Funding Foreign Education? Know When TCS Will Be Collected

Families paying tuition or living expenses abroad need to first check the source of funds. A loan-funded remittance and a self-funded payment are treated differently for TCS

ITR 2026: e-Filing portal now shows both Form 26AS and Form 168 under old and new tax legislations. What does it mean for taxpayers?

Form 26AS will continue to apply for FY 2025-26, while Form 168 comes into effect from Tax Year 2026-27.

Zero tax in Form 16? You may still have to file an ITR to claim refunds, carry forward losses

A nil tax liability in Form 16 does not automatically exempt salaried taxpayers from filing an ITR. Filing may still be necessary to claim refunds, carry forward losses and meet reporting requirements.

Confused About Form 168? Here’s What It Means For Your Tax Return

Form 168 is essentially the renumbered version of Form 26AS under the Income-tax Act, 2025, while the broader tax information ecosystem around returns continues to include AIS, Form 16, bank statements, and broker reports

NRI Property Purchase: Why The Seller’s Residential Status Matters

It's a different story when the seller is an NRI or non-resident. Right now, and until 30 September 2026, the buyer has to go through the full TAN-based compliance route that applies to payments made to non-residents

Don’t File Your ITR In A Hurry After Getting Form 16: Here Is Why

Taxpayers must ascertain that all Form 16 TDS entries show up in Form 26AS. Next, they must ensure AIS contains interest income, dividend income, securities transactions, mutual fund redemptions, and any other reportable transactions

Teen Cricketer Vaibhav Sooryavanshi Earning In Crores! How Income Tax Rules Apply To Minors In India

Even when income is taxed in the minor’s own hands, the responsibility of managing compliance cannot be ignored

Side Hustle, Bigger Tax File: Why Salaried Earners Must Report Extra Income

Remember, the moment you earn it, it is taxable; no threshold exempts side income for salaried individuals

Why Freelancers And Small Businesses Should Run The Numbers Before Choosing Presumptive Taxation

If your actual expenses are lower than what the scheme presumes, the tax math might not work in your favor. So before you opt in, run the numbers. Don't assume the presumptive route is always the cheaper one

F&O Tax Filing: Why Traders Must Treat Profits And Losses As Business Income

A non-speculative business loss from F&O can be set off against most other income heads in the same year, barring salary

HUFs Can Preserve Family Wealth — But They Can Also Create Lifelong Disputes

The HUF is not something new. It is a centuries-old legal structure that treats an entire family as one financial unit—one entity, one PAN, one pool of assets. And that simplicity, ironically, is what makes it so powerful when used correctly

Income Tax update: What are common mistakes to avoid while filing ITR 3 and 4

Income Tax update: What are common mistakes to avoid while filing ITR 3 and 4

What are common mistakes to avoid while filing ITR 1 and 2

What are common mistakes to avoid while filing ITR 1 and 2

ITR-4 (Sugam) For AY 2026-27: What’s New, Who Can Use It, Due Date, And Filing Process

ITR-4 (Sugam) For AY 2026-27: What’s New, Who Can Use It, Due Date, And Filing Process

Fat pay cheques: How foreign IPL players taxed in India?

Under the Income Tax Act, 2025, foreign (non-resident) IPL players are taxed under Section 211, which governs taxation of non-resident sportspersons

Form 121 Replaces Forms 15G and 15H From AY 2026–27 and How To Claim If TDS Has Been Deducted

Form 121 Replaces Forms 15G and 15H From AY 2026–27 and How To Claim If TDS Has Been Deducted

US based son gets tax notice in India over Rs 11 lakh cash deposit made on behalf of parents during demonetisation. ITAT Delhi cancels notice for this reason

How To Maximise Tax Benefits Through Capital Loss Planning

In practice, it makes sense to utilise short-term losses first because they are more flexible. “Since short-term gains are usually taxed at a higher rate, adjusting short-term losses against such gains gives better tax relief

Why Pre-Construction Interest Matters For Tax Savings

If the interest certificate, loan documents, and completion/possession records are incomplete or inconsistent, the deduction may be disallowed or restricted to the lower Rs 30,000 limit

Income Tax changes 2026: Tenants paying over Rs 50,000 rent must deduct 2% TDS by March 31 to avoid scrutiny and penalties

Under Section 194-IB of the Income Tax Act, tenants paying over Rs 50,000 monthly rent must deduct 2% TDS on annual rent from the March payment

Raghav Chadha proposes optional joint filing of income tax returns for married couples: What it could mean for you if implemented

Several countries, including the United States, Germany, and France, allow married couples to file taxes jointly or split their income

Planning to gift property to your spouse? LTCG may still be taxed in your hands

Legally, the spouse receiving the gift may become the owner of the property, but for tax purposes, LTCG is still treated as income of the original owner.

Draft Income Tax Rules 2026 - PAN may not be mandatory for property deals below Rs 20 lakh

Draft tax rules propose raising mandatory PAN requirement for property deals to Rs 20 lakh from April 1, 2026, easing compliance for small and first-time buyers

Dubai earnings sent through banking channels - yet tax notice issued. ITAT Ahmedabad rules property purchase cannot be treated as unexplained investment

An NRI working in Dubai since 1993 successfully challenged a tax notice for unexplained property investment in India.

Budget 2026: Tax experts demand clarity on taxation of stock options for cross-border employees

ESOP taxation is clear for employees working only in India, but remains uncertain for cross-border employees. Tax experts say Budget 2026 should clarify rules for cross-border ESOPs.

Budget 2026: Tax experts want stability, simpler compliance and fewer surprises

No rate cuts, fewer tweaks: tax experts want FM to focus on fixing everyday pain points that continue to trouble taxpayers

ITAT Bengaluru allows builder payments, permanent renovations as capital costs for NRIs. Here’s what you need to know

ITAT Bengaluru ruling clarifies that NRI capital gains computation, especially onbuilder payments and renovation costs can be treated as capital expenses

NRI bought Rs 66-lakh property in India, paid TDS but didn't file ITR, got tax notice, he fights and wins case in ITAT Ahmedabad

A US citizen of Indian origin, Mr. Patel, faced a tax notice for an unexplained Rs 66 lakh property purchase in India

Budget 2026: How joint ITR filing for married couples can reduce tax liability?

If implemented it will lead to reduced compliance burden, lower cost of tax filing, and significant savings in time and effort.

Income tax refund not credited? Here are the reasons and this is what you can do

For returns filed for FY25, the department has time till December 31, 2026 to process returns under Section 143(1) of the Income Tax Act

Budget 2026: Tax relief on savings and FD interest back in focus as savers feel the pinch

Individual taxpayers, particularly senior citizens, are looking to the Union Budget 2026 for higher tax deductions as they face rising inflation and healthcare expenses.

UK based taxpayer ignored tax notices, still escaped Rs 10,000 penalty - here’s why

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Ready-to-move-in versus under construction apartments: Tax, GST and TDS differences explained

Ready-to-move-in versus under construction apartments: Tax, GST and TDS differences explained

Year-ender 2025: How simplified capital gains and GST reshaped the tax landscape and what homebuyers must know

Year-ender 2025: How simplified capital gains and GST reshaped the tax landscape and what homebuyers must know

Remote property ownership is tough for NRIs. Here's the fix.

Remote property ownership is tough for NRIs. Here's the fix.

Built a new house on inherited land? Here’s how you’ll be taxed if you decide to sell

Property tax guide: The sale consideration must be divided between the land and building portions, as their cost base and tax treatment may differ

How You Can Solve The Problem Of Data Mismatch In Form 26as, Ais, And Form 16 While Filing Itr

The deadline for filing income tax returns is fast approaching. It's only a few hours away.

Facing mismatch in Form 26AS, AIS, and Form 16 while filing ITR? Here’s what you can do

Several chartered accountants and associations have pointed out that there are some issues with the income tax portal...

Taxpayer to pay only Rs 33,000 income tax after selling a house for Rs 70 lakh; ITAT Mumbai ruling explained

A taxpayer successfully challenged the income tax department's LTCG calculation, winning in ITAT Mumbai.

From RNOR to resident: tax rules NRIs must prepare for

How to use the two-three year window that allows repatriation of assets without paying taxes

PAN-Aadhaar linking update: Relief from tax demand notice due to short TDS deduction for these taxpayers

The Income Tax Department is offering relief to taxpayers who received demand notices for short...

Taxpayer wins Rs 69-lakh unexplained investment income tax case in ITAT Mumbai on these technical grounds

In 2025, an Indian engineer working in Dubai, won a tax case against the Income Tax Department rega...