Income Tax

The highest tax rate of 30 per cent is levied on individuals earning more than Rs 24 lakh in a year in the new income tax regime.

Tax litigation: FICCI flags Rs 18 lakh crore stuck in appeals, seeks overhaul of faceless system

Industry body urges filling vacancies, simplifying TDS structure, and granting tax neutrality for fast-track demergers to reduce litigation and improve ease of doing business

Gift tax rules: how much can you give to children or parents without paying tax?

A quick guide to India’s gift tax rules and how much you can give family without worrying about the taxman.

Does your gift of gold coin, jewellery on Diwali comes wrapped with tax liabilities?

Gold as gift from relatives is tax-exempt but the gifts that exceed Rs 50,000 from people other relatives in a fiscal year are taxable

Govt to notify all rules under new income tax law by December 31

Administrative groundwork for the new tax system accelerates as Budget preparations near; government aims to finalise around 400 rules and 180 forms for a leaner framework

Dhanteras 2025: Tax guide for gold jewellery, coins, gold ETFs and SGBs

Gold ETFs and sovereign gold bonds offer tax-efficient alternatives to physical gold, providing portfolio diversification, tax benefits, and flexibility, making them attractive options for investors seeking gold exposure

Net direct tax revenue jumps 6.3% to Rs 11.89 lakh crore till Oct 12

Non-corporate tax, which includes individuals and HUFs, mop-up so far this fiscal stood at about Rs 6.55 lakh crore, up from over Rs 5.93 lakh crore in the same period of the last year

Security flaw in Income Tax website exposed bank, Aadhaar details of Indian taxpayers

A major bug in India’s Income Tax portal exposed taxpayers’ bank, Aadhaar, and personal details before it was fixed by the government.

Is income tax payable on gifting a flat to your wife?

Gift to your husband/wife is tax-free during transfer but future income from it has strings attached.

Sonam Wangchuk claims I-T summons received despite tax exemption for Ladakh. Check what law says

Section 10 (26) of the Income Tax Act provides exemption to scheduled tribe members residing in Tripura, Mizoram, Manipur, Nagaland, Assam, Arunachal Pradesh and Ladakh

Rajasthan High Court extends due date for tax audit to October 31: Is similar notification expected across India? Tax expert clarifies

The Rajasthan High Court's Jodhpur Bench has issued an interim order in response to a writ petition filed by the Tax Bar Association Jodhpur. Similar petitions have been filed across the country.

No tax rebate for special-rate incomes, reiterates Income Tax Dept, asks taxpayers to pay up by December 31

No interest will be levied if the income tax due is deposited by December 31, says CBDT circular.

Tax audit deadline nears: Will Finance Ministry grant an extension?

Chartered accountants and trade bodies demand more time as compliance workload and portal issues mount.

Sebi keen to relax punching errors in trades but concerned over tax evasion, circular trading

Uniform penalty structures for modifications beyond such FPI groups is also being discussed, alongside exemptions for ETF market makers transferring trades to asset management companies (AMCs) to enable smoother settlement.

Capital gains from JDAs under lens, CBDT directs directorates to flag missing disclosures

CBDT rolls out a standard operating procedure for tighter monitoring of real estate transactions. CBDT has directed all its investigation directorates to adopt the model and submit compliance reports by October 31

Income Tax Return filing deadline extended by a day to September 16

However, the e-filing portal will be in maintenance mode until 2:30 am to enable change in utilities

ITR filing 2025: Why individual taxpayers must file their tax returns on September 15

While you can file belated returns by December 31, 2025, not adhering to the September 15 deadline will attract late-filing fees of Rs 1,000–Rs 5,000, besides other restrictions

ITR filing 2025: Why checking AIS and Form 26AS is critical before submitting tax returns

Difficulty in accessing AIS has been the chief complaint of many tax professionals ahead of the September 15 ITR filing due date. It is important to review AIS to avoid missing out on disclosures, which can then trigger scrutiny and notices from the tax department.

ITR filing 2025-26: Yet to file tax returns? Know the consequences of missing September 15 deadline

Completing the ITR filing process after September 15 will mean coughing up penalties of Rs 1,000-5,000.

September 15 ITR filing deadline: TDS on fixed deposits explained

File ITR by September 15, 2025; understand TDS on fixed deposits, threshold limits, rates and refund process.

Tax filing tips: How to claim exemptions on interest income

Taxpayers can claim exemptions on interest income under Section 80TTA (up to Rs 10,000 for those under 60) and Section 80TTB (up to Rs 50,000 for senior citizens).

ITR filing: Advance tax deadline-ITR filing due date clash, I-T portal glitches causing delays, say CAs

However, income tax officials have refuted claims of technical snags on the official e-filing portal.

ITR filing 2025: How the Updated Return facility gives taxpayers a second chance to get it right

Tax return: If a taxpayer misses the December 31 deadline for filing belated return, she can still file an updated return (ITR-U) under Section 139(8A) of the Income-tax Act within four years from the end of the relevant assessment year.

ITR-3 filings grew over 600 percent in 2024 among investors under the age of 25, shows Cleartax data

The fastest increase in ITR-2 and ITR-3 filers, the categories linked to capital gains and market activity, is coming from Indians under the age of 25. While this highlights extraordinary enthusiasm, it also signals risk.

Sold your house, land, or industrial property? Nine income tax sections can help save on capital gains tax

Nine different sections of the Income Tax Act allow property sellers to reinvest gains and cut down capital gains tax significantly.