Tax & Budget News India
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Income tax, GST, TDS, budget updates, deductions and ITR filing news.
📰 Latest Tax & Budget News
Buying a Home? Missing TDS Rule Costs ₹1%/Month
When you buy a property worth ₹50 lakh or more, you must deduct 1% TDS from every payment to the builder. Miss the deposit deadline and you pay 1% interest per month — plus risk income tax notices.
taxguruinGST on Property: 5 ITC Rules Your Business Must Know
If your business bought or built property and claimed GST input tax credit, you may be breaking the law. Section 17(5) blocks ITC on most immovable property — but there are exceptions most business owners don't know about.
taxguruinGot an IT Notice? 3 Steps to Avoid ₹10,000 Penalty
Income tax notices sound scary, but most are routine. Knowing what triggers them, what documents to keep ready, and how to respond on time can save you thousands in penalties and stress.
taxguruinOld IT Notice for 2015-16? Courts May Quash It
Gujarat High Court ruled that old income tax reassessment notices for AY 2015-16 cannot be saved by TOLA time extensions. If you got a Section 148 notice for old years, this ruling may protect you.
taxguruinInherited a Business? GST Dues May Follow You
If a GST-registered person dies, their unpaid tax dues don't disappear. Under Section 93 of the CGST Act, legal heirs who inherit the business can be held liable. A Madras HC ruling just confirmed this — and reminded families to act fast.
taxguruinGST Credit Denied? Section 16(5) Can Save Your Claim
Courts have ruled that GST input tax credit (ITC) denied due to late filing can be reconsidered under Section 16(5) of the CGST Act. If your ITC was rejected for older periods, you may have grounds to appeal and recover it.
taxguruin20% Global Equity in Your Portfolio: Rebalance It Right?
If your portfolio has international equity, you need a clear rebalancing plan. Without one, your asset mix drifts and your actual risk quietly goes up — often without you noticing.
freefincalFake Tax Penalty Email? Your ₹0 Is at Risk
Fraudsters are sending fake Income Tax Department emails with 72-hour payment deadlines to scare taxpayers into paying fake penalties. Here is how to spot and ignore them.
taxguruinLost Your Job? ₹25L Gratuity Tax Rule Explained
If you're laid off, your severance pay is taxed like salary — but gratuity and leave encashment have separate tax exemptions up to set limits. Knowing the difference can save you lakhs.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsSection 148 Notice? Check If It's Legally Valid
Gujarat High Court cancelled a Section 148 income tax notice because the tax department couldn't show a real connection between seized documents and the taxpayer's land deal. If you get a reopening notice, the evidence must directly link to you.
taxguruinEV Scooter at ₹1.1L: Finance It Without EMI Regret?
Electric scooters now start at ₹1.1 lakh. Before you book one, know how EV loans work, what subsidies you can claim, and whether a 3-year EMI actually saves you money over petrol.
Inc42 MediaLTCG Claim Rejected? 4 Proofs That Protect You
The tax department can reject your LTCG exemption and tax your stock profits as unexplained income if you can't prove you actually bought the shares legitimately. Here's what documents protect you.
mint - moneyNRI Abroad, Indian Client: Do You Pay Tax Here?
If you live abroad but earn money from Indian clients, India may still tax you. Whether you pay depends on your NRI status, where the work was done, and whether India has a tax treaty with your country.
mint - moneyIT Reassessment Notice? 3 Rights You Must Know
The Supreme Court threw out a tax department appeal because it was filed 201 days late. This highlights how income tax reassessment notices under Section 148A have strict legal timelines — and taxpayers have real rights to challenge them.
taxguruinForeign Assets Undisclosed? FAST-DS Form 1 Is Now Live
The Income Tax Department has launched Form 1 on the e-filing portal for the FAST-DS 2026 scheme — a one-time window for Indians to come clean about foreign assets and income before penalties kick in.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsWrong PAN on Joint Account? Your Tax Risk Explained
Income tax officers sometimes add a spouse's bank deposits to the other partner's income. A recent tribunal ruling confirms: if the account belongs to one person, the other can't be taxed on it, even as an authorised signatory.
taxguruinGST Notices Surging: Are You Making These 6 Errors?
GST authorities are sending more notices than ever in 2026. Six key issues — ITC mismatches, turnover gaps, RCM defaults, wrong classifications, pending refunds, and e-way bill errors — are tripping up small business owners and self-employed Indians. Here's what to watch.
taxguruinWrong 148 Notice? Your Reassessment Can Be Quashed
Income tax authorities cannot reopen your old returns using wrong facts or just a change of opinion. A Gujarat High Court ruling confirms: if the original notice is built on incorrect information, it has no legal standing and can be cancelled.
taxguruinMissed ITR Deadline? Your ₹5,000 Fine Starts Now
August 31 is the last day to file your ITR for AY 2026-27. Miss it and you pay a late fee of up to ₹5,000, lose interest on refunds, and cannot carry forward most losses. Here's exactly what changes after today.
mint - moneyAdding Family to Property? 3 Tax Traps to Avoid
Adding a family member's name to your property deed can trigger income tax, gift tax rules, or even benami law. Here's what every Indian homeowner must know before they sign anything.
mint - money₹16L Cash Seized in IT Raid: How He Won at ITAT
Income tax officers seized ₹16 lakh in cash during a raid, calling it unexplained income. The taxpayer claimed it was family savings and fought the case at ITAT Mumbai — and won. Here's what every Indian household should know about keeping cash at home legally.
Wealth-Economic TimesNRI Working Abroad? India May Tax Your 10% Fees
If you're an NRI living abroad but earning from Indian clients, India can still tax that income. But tax treaties with countries like Brazil can cap what India charges — here's what you need to know.
mint - moneyLate Form 67? You Can Still Claim Foreign Tax Credit
If you paid tax abroad and forgot to file Form 67 on time, you may still get your foreign tax credit. A recent tax tribunal ruling says the delay alone cannot be the reason to reject your claim.
taxguruinWhatsApp Chats as Tax Proof? 3 Rules You Must Know
A Pune tax tribunal threw out a ₹10.52 lakh income tax demand because the evidence was just WhatsApp screenshots without proper legal certification. Here's what every Indian taxpayer must know about digital evidence and tax notices.
taxguruin7.5 Cr ITRs Filed: Miss Tonight's Deadline?
A record 7.5 crore income tax returns have been filed for AY 2026-27. If you have business or professional income and are not under audit, tonight at midnight is your last chance to file without a penalty.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsBogus Reassessment Notice? Your Rights in 3 Steps
A tax tribunal cancelled reassessment notices for two years because the Income Tax Department opened old cases on one reason but made no addition on that very issue. If you got a reopening notice, this ruling protects you.
taxguruinGST Notice? Your Right to Hearing Saves You
A Punjab & Haryana High Court ruling says tax authorities MUST give you a personal hearing before passing any adverse GST order. If they skip this step, the order can be cancelled entirely — a powerful protection for small business owners and self-employed Indians.
taxguruinIT Dept + ED on Your Case: What You Risk
The Income Tax Department and Enforcement Directorate can share your financial data and run parallel investigations. If your income looks suspicious, you could face tax recovery AND money laundering charges at the same time — two agencies, one problem.
taxguruin57th GST Council: Will Your Bills Change in Sept?
India's GST Council is meeting on September 12, 2026 in New Delhi. Past meetings have changed tax rates on everyday goods, health insurance, and food. Here is what it could mean for your wallet this time.
taxguruinBudget 2025: 5 Moves That Change Your Money
Budget 2025 isn't just government spending news. Tax cuts, capex plans, and scheme changes directly affect your salary, EMIs, and investment returns. Here's what actually matters for your wallet.
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