Bought under-construction flat? Check how Section 54 applies to LTCG exemption
Under-construction bookings qualify for LTCG exemption under Section 54 if possession is made within three years.
Tiger Global ruling enhances India’s ability to tax offshore assets deriving value here
The Supreme Court’s interpretation significantly narrows treaty protection for multitiered structures. Investors may now need to rethink long-standing governance models and reevaluate multijurisdictional holding structures
OPINION | Budget 2026 and the expectations of emerging sectors
As Budget 2026 approaches, emerging technology sectors seek tax incentives, simplified IP regimes, expanded GCC benefits, and funding support to drive innovation, employment, and long-term economic growth
Why old tax regime still works for some taxpayers
If an individual is earning about Rs 25 lakh and has deductions and exemptions of around Rs 8.5 lakh or more, the person should consider the old over new tax regime.
How do tax benefits differ for self-occupied and let-out homes with multiple loans?
There is no restriction on the number of home loans for which deductions can be claimed, but tax benefits depend on whether the properties are self-occupied or let out, and on the tax regime chosen.
Budget 2026 hopes for LTCG cut to 10%, raise in exemptions, restoration of indexation benefit
Ahead of Budget 2026, investors and tax experts are seeking capital gains reforms, including a cut in LTCG rates to 10 percent, higher exemption limits, uniform holding periods, and restoration of indexation benefits.
Selling your house in February? Here's what you need to know about capital gains tax
An individual is required to pay advance tax if the net tax payable, after adjusting for tax deducted or collected at source, exceeds Rs 10,000
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.
Budget 2026: Confused about income tax slabs? Here’s a quick refresher
As India prepares for the Union Budget 2026, here’s a quick run-down of income tax slabs under both old and new regimes— highlighting key differences in rates, exemptions, and deductions for taxpayers to make informed decisions.
Can a foreign-citizen son without PAN or Aadhaar act as legal representative on India’s income tax e-filing portal?
After death, a legal heir must file the deceased’s final ITR. A foreign citizen can obtain a PAN (Aadhaar not required) to register as legal representative, with a notarised affidavit supporting sole heir status.
Google co-founders Sergey Brin, Larry Page leaving California ahead of 'billionaire tax': Report
The moves come as California weighs a ballot measure that would impose a one-time 5 percent tax on individuals worth more than $1 billion. Sergey Brin has a net worth of about $250 billion, while Larry Page's net worth is $271 billion.
OPINION | Industry seeks tax, GST and duty reforms across oil and gas
The oil and gas industry urges reforms in cess, GST, duties and incentives to improve upstream earnings, reduce costs, promote natural gas, boost domestic production and enhance investment
Can daughter-in-law transfer rental income to HUF legally without tax implications?
Under Section 60 of the Income Tax Act, transferring rental income to HUF without the property leads to clubbing, so rent and capital gains remain taxable in the daughter-in-law’s hands.
Union Budget 2026: Equity investors push for lower LTCG tax and STT
Equity investors seek predictability and lower friction as tax costs weigh on post-tax returns
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
New vs old tax regime: How rewarding is let-out property for home loan borrowers?
Under the new tax regime, home loan interest can be claimed only against rental income after the 30 percent standard deduction and losses cannot be set off or carried forward.
Budget 2026: Stakeholders seek tax relief, credit support for MSMEs
Stakeholders have also called for rationalisation of customs duties on critical raw materials, extension of concessional tax regimes for new units
I-T notice under Section 133(6): Here's what employers should do
If an employee anticipates that their claims cannot be substantiated, they should consider filing an Updated Return (ITR-U) under Section 139(8A)
Higher interest shocks taxpayers as Income Tax system flags 234B, 234C charges
For income not subject to TDS such as capital gains from shares or mutual funds taxpayers are required pay advance tax in instalments during the year. Delays can attract interest under Sections 234B and 234C.
How capital gains tax apply when an inherited house is sold, and proceeds are shared?
Expert explains that where an inherited property is mutated in one heir’s name, tax liability on long-term capital gains generally rests with the registered owner.
Switched jobs this year? Here's how to deal with multiple Form 16 while filing ITR
Verify that salary income and TDS from all employers appear correctly in Form 26AS and AIS, as employers calculate tax independently
Retiring in a new tax regime: What the latest rules mean for your income and savings
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.
ITR-3 filings surge 45% in 2025 as taxpayers shift to multi-income sources: Cleartax
Cleartax annual report for 2025 suggests that tax filers are no longer relying on a single source of earnings. They are building a portfolio by combining salary with capital gains, trading, and business income.
How can NRIs transfer mutual fund redemption proceeds from NRO to NRE account?
Expert advises that NRIs should invest directly from an NRE account, instead of routing funds through an NRO account, as this helps avoid complications when repatriating money outside India.
Which transactions are tracked by Income Tax Department and which aren't?
The key is to ensure that income is correctly disclosed and that high-value transactions are explainable and consistent with reported income.
