Taxation

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

Why retaining employee-funded group health insurance add-ons makes sense despite no GST exemption

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.

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.

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.

GST 2.0: Why middle-class families should invest before splurging during festival season

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

I-T relief for employees working overseas: No jail for not reporting low-value foreign assets

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

Juggling US’ IRS and India’s I-T dept: How Indians investing in US stocks are taxed

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

LTCG on immovable properties: How non-indexed gains can push up your total income, trigger surcharge

For many middle- and upper-middle-class taxpayers, a one-time sale of property can inflate their gross total and push them into higher surcharge brackets, despite having no actual capital gain (after inflation adjustment).

ITR filing |Tax rebate on short-term capital gains: ITAT ruling opens a window

Chartered accountants differ over whether small taxpayers will be able to obtain section 87A rebate on their STCG income for FY 2024-25 (AY 2025-26) based on the Ahmedabad tax tribunal’s recent order.

No HRA? Here’s how you can still claim tax deduction under Section 80GG on rent paid

The section allows self-employed professionals as also salaried employees who are not entitled to HRA to avail of tax breaks on rent paid

Govt amends income tax law to ensure parity between NPS, UPS

The Taxation Law (Amendment) Bill, 2025, makes 60 percent of the lump sum received by UPS subscribers at retirement tax-free, aligning its tax treatment with that of the NPS.

No ITR filing exemption for small taxpayers in new Income Tax Bill, say CAs

The parliamentary panel headed by BJP MP Baijayant Panda had recommended that small taxpayers not be compelled to file an ITR solely to avoid penalties for non-filing.

SC delivers split verdict on income tax appeal involving foreign firm, CJI may refer to larger bench

The bench comprising Justices BV Nagarathna and Satish Chandra Sharma, delivered divergent opinions on the legal interpretation of Sections 144C and 153 of the Income Tax Act, 1961.

ITR filing 2025: Opting for the old tax regime? File return by Sep 15 to retain 80C tax deductions

Salaried taxpayers looking to claim section 80C tax deductions and exemptions under the old tax regime must file their returns by September 15, the extended due date for FY 2024-25

ITR filing 2025: Salaried taxpayers steer clear of unverifiable deductions, increasingly opt for new tax regime, say CAs

Heightened I-T dept scrutiny has compelled many salaried taxpayers to avail of deductions on 80C tax-saving investments, HRA, and donations only when their claims can be supported by valid documents.

Of Dubai & Delhi: Here’s how NRIs are taxed for capital gains, dividends, & more

A valid Tax Residency Certificate from the UAE is mandatory to claim benefits under the DTAA in India.

ITR-2 online utility released: Filing returns? Here's why you must verify your AIS and Form-26AS first

Since the AIS and Form 26AS contain the complete history of a taxpayer’s transactions, nothing will go unnoticed — any non-disclosure can invite notices from the income tax department.

ITR Filing 2025: Checklist of essential documents before filing income tax return

Tax filers can start gathering the crucial documents, including last year’s ITR, Form-16, Annual Information Statement, Form-26 AS, capital gains statements and so on, before kicking off the process.

ITR filing 2025-26: Errors in your form? Here's how you can fix them, avoid penalties

The return needs to be revised three months before the end of the assessment year or before the completion of the assessment, whichever is earlier. For the assessment year 2025-26, the last date for filing a revised return is December 31, 2025.

Can you save tax by giving shares to your HUF??

Forming a Hindu Undivided Family (HUF) can reduce taxation, but are share transfers to an HUF tax-efficient? Here's what you need to know.

ITR filing 2025 | ITR-1or 2: Which income-tax return form should salaried persons choose?

Now, that the I-T department has released excel utilities for ITR-2, salaried taxpayers and chartered accountants can start the filing exercise for assessment year 2025-26

ITR filing 2025: Here are small-saving schemes that offer tax benefits under Section 80C

In case you missed claiming tax deductions on your small saving deposits while submitting investment declarations in January, do not forget to rectify the omission while filing returns