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Tax experts advocate increasing India's 30% tax slab from Rs 24 lakh to Rs 35 lakh to counter inflation, boosting middle-class disposable income and economic growth, amid Union Budget 2025-26 discussions
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Under-construction bookings qualify for LTCG exemption under Section 54 if possession is made within three years.
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India’s tax framework has shifted. If retirement is close, the choice between the old and new regimes can materially change how much you keep and how long your savings last.
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Key proposals for the Union Budget 2026 include increasing tax deductions on home loan interest, reviving subsidies for mid-income buyers, simplifying loan portability, and linking disbursements to construction milestones.
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Taxpayers want the Budget to make transition to new tax law simpler, slabs to be inflation-adjusted, deductions to be restored and easing of charitable trust rules
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The Income Tax Department has introduced a separate Schedule VDA in ITR forms, and this is where all crypto-related income must be disclosed, a tax analyst said.
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CBDT will be sending SMSs and emails to taxpayers who’ve been identified as not disclosing foreign income and assets in the ITR filed for AY 2025-26.
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You cannot claim Section 80GG if you own a house in any other place that is kept vacant or reserved for your own occupation.
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Not all gifts are tax-free — some could quietly add to your taxable income if you’re not careful.
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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
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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
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No interest will be levied if the income tax due is deposited by December 31, says CBDT circular.
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Group health covers offer several advantages over retail policies, including smoother claim settlement, no waiting period for pre-existing diseases, which are critical for employees' elderly parents, in particular.
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However, the e-filing portal will be in maintenance mode until 2:30 am to enable change in utilities
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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
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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.
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Completing the ITR filing process after September 15 will mean coughing up penalties of Rs 1,000-5,000.
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File ITR by September 15, 2025; understand TDS on fixed deposits, threshold limits, rates and refund process.
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However, income tax officials have refuted claims of technical snags on the official e-filing portal.
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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.
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Filing income tax returns in a hurry can increase the risk of errors, defective returns and, thus, I-T notices. Here’s a last-minute guide to avoiding costly mistakes.
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A granddaughter (whether the son’s daughter or the daughter’s daughter) is treated as a lineal descendant of the donor and therefore falls within the definition of a 'relative'
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While the government and corporate India hope that GST cuts will boost festive spending, advisoes urge households to channel the additional money to bolster their investments
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In line with Budget 2024’s announcement to waive the penalty for non-disclosure of low-value foreign assets of up to Rs 20 lakh, the I-T department has decided to eliminate prosecution provisions as well
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Investing in US stocks as an Indian resident isn't just about picking the right companies — you need to be aware of the tax nuances as well. While the India-US DTAA provides relief from double taxation, compliance requires correct documents and timely filing
