An NRI faced a proposed 78% tax after ₹14.70 lakh of his property payment was made through his mother’s account and treated as unexplained investment. The ITAT Mumbai deleted the addition after he ...

You need your adjusted gross income from last year's taxes to file your federal income tax return online in 2026.

A Dubai-based NRI who bought a ₹2 crore flat in Mumbai without filing an ITR in India received a tax notice treating the ...

Indians working abroad can claim Foreign Tax Credit (FTC) by filing Form 67. Draft rules propose renumbering it to Form 44, requiring CA certificates for companies and individuals with foreign tax ...

The High Court held that once income is duly recorded in an Income Tax Return, the Tribunal need not examine the source of income in accident claims. Compensation was enhanced by applying correct ...

New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification.

Section 139(8A) now permits filing of ITR-U within 48 months from the end of the assessment year. However, it cannot be used to reduce tax liability, claim refunds, or bypass departmental ...

Missed filing an ITR for HUF income? Today’s Ask Wallet Wise explains why a member has no recourse once the deadline to file a revised ITR has expired. The Ask Wallet-Wise initiative offers expert ...

High salary earners are receiving 'nudge' notices from the Income Tax Department. These notices prompt employees to correct errors like undeclared property income, crypto gains, and ESOPs. The ...

If you haven't filed your Income Tax Return (ITR) for the financial year 2024-25 (FY25), there's no need to panic. Even if ...

Filing your income tax return can be, for many, a dreaded annual task. And paying to file unnecessarily can only add insult ...

The Draft Income Tax Rules, 2026, propose to remove the requirement of filing a separate form to claim concessional tax rates ...