Tax & Budget News India
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Income tax, GST, TDS, budget updates, deductions and ITR filing news.
📰 Latest Tax & Budget News
Foreign Income in ITR? Avoid Double Tax in 3 Steps
If you earn money from abroad — as an employee, freelancer, or investor — India may tax it AND the foreign country will too. But tax treaties let you claim credit for taxes already paid overseas, so you don't pay double. Here's how to do it right in AY 2026-27.
Wealth-Economic TimesWrong ITR Filed? Fix It Before Dec 31 Deadline
If you made an error in your Income Tax Return — wrong income, missed deduction, or incorrect bank details — you can file a revised return. You can do this multiple times before December 31, 2025, and it's completely free.
Wealth-Economic TimesITR Filed? Verify in 30 Days or It's Invalid
Filing your income tax return is only half the job. You must e-verify it within 30 days of filing, or the income tax department treats it as if you never filed at all — meaning penalties and no refund.
mint - moneyWrong ITR Filed? Discard & Refile in 4 Steps
If you filed your income tax return with mistakes, the IT Department lets you discard it and file a fresh one — but only before you verify it. Miss that window and your new filing counts as a late return, attracting penalties.
mint - moneyForeign Assets in Your AIS? 3 Steps to Stay Safe
The Annual Information Statement now shows foreign assets and income from 2022 to 2024. This is a compliance check — not a prompt to refile old returns. Here is what you should do to stay safe.
mint - moneyRevised ITR Filed? Your Capital Loss May Get Wiped
If you file a revised ITR, you may accidentally lose your right to carry forward capital losses claimed in the original return. A Bangalore taxpayer fought this in court and won — here's what you need to know before you revise your ITR.
Wealth-Economic TimesSilver Tax: 4 Ways You Pay More Than You Think
Silver investments are taxed differently based on how you buy — ETFs, FoFs, jewellery, or utensils each have their own tax rules. Knowing these can save you real money at the time of selling.
mint - moneyITR 2025: 6 Checks Before You Hit Submit
Filing your ITR for FY2024-25 is not just about entering income numbers. New disclosure rules, updated forms, and easy-to-miss fields can trigger a tax notice if you rush through submission without verifying the right things first.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsFile Your ITR Online in 5 Steps: No CA Needed
Filing your income tax return online is easier than you think. The Income Tax portal pre-fills most of your data. Salaried individuals with simple income can do it themselves in under an hour — no CA required.
mint - moneyCGAS Deadline Missed? Your Tax Exemption Gets Cancelled
If you sold property and parked money in a Capital Gains Account Scheme but didn't invest it within 3 years, the entire amount becomes taxable — even if you never withdrew it.
mint - money12.5% LTCG Tax on Stocks: What You Still Owe
The government clarified that the 12.5% long-term capital gains tax on equity applies equally to both foreign and Indian investors. A recent ordinance only exempted FPIs on government bonds — your stock market gains are taxed as before.
mint - moneySGB Early Exit at ₹14,170: Is Your Gold Bond Due?
RBI has opened premature redemption for Sovereign Gold Bond 2019-20 Series VIII. If you hold these bonds, you can now exit early at ₹14,170 per unit. But tax rules and eligibility conditions apply — here's what you need to know before redeeming.
mint - moneyITR 2026: File Before July 31 or Pay ₹5,000
CBDT has upgraded the income tax e-filing portal ahead of the July 31, 2026 deadline to avoid crashes. File early to avoid penalties, interest on tax due, and last-minute technical trouble.
Wealth-Economic TimesITR Filing 2025: 9 Documents You Must Have Ready
ITR season is open and missing even one document can delay your refund or invite a penalty. Here are the key papers every salaried person and small business owner must gather before filing.
mint - moneyJob Switch Tax Trap: ₹1.69L Bill You Didn't Expect
Switching jobs mid-year can leave you with a big tax bill at year-end, even if both employers deducted TDS. Here's why it happens and how Form 12B saves you.
mint - moneyAI Helping Your ITR? 3 Costly Mistakes to Avoid
AI tools like ChatGPT can explain tax terms and help you understand deductions, but they cannot file your ITR accurately. You are legally responsible for every number on your return — not the AI tool you used.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsTraded F&O in FY25? Your ITR Deadline Isn't July 31
If you did F&O or intraday trading in FY2024-25, your income tax return deadline is NOT July 31. It is October 31, 2025, because your gains count as business income and need an audit.
mint - money4 Debt Funds for 1-3 Years: Beat Your FD?
If you have money to invest for 1 to 3 years, debt mutual funds can beat FD returns. Four categories — short-duration, dynamic bond, corporate bond, and banking & PSU funds — are worth knowing before you invest.
mint - moneyTDS Return Due July 31: 5 Changes You Can't Miss
The Q1 TDS and TCS return for April–June 2026 must be filed by July 31, 2026. New forms and updated section codes under the Income-tax Act, 2025 are now in effect. Missing the deadline triggers daily penalties that add up fast.
mint - moneyBought a ₹10L+ Car? Claim Your TCS Tax Refund
If you bought a car worth over ₹10 lakh, the dealer collected 1% TCS from you. That money sits with the government — and you can claim it back as a tax refund when you file your ITR. Most buyers don't even know this.
mint - moneyITR 2026: New Mandatory Field — Is Your Return Safe?
The Income Tax Department has made a secondary address field mandatory in all ITR forms for AY 2026-27. If you skip it, your return could face processing delays or rejection. Here's what you need to fill and why.
mint - moneyBuilder's Cash Records Found? Your Tax Rights Explained
If your name appears in a builder's cash payment records seized during an IT raid, you could get a tax notice. But a recent ITAT ruling says the department cannot tax you based on third-party documents alone — you have the right to challenge it.
Wealth-Economic TimesSold Property in FY26? Recompute Your Advance Tax Now
The Cost Inflation Index for FY 2026-27 was released late, after the June advance tax deadline. If you sold property bought before July 23, 2024, you may have underpaid advance tax and need to fix it now to avoid interest penalties.
Wealth-Economic TimesSold Property in FY26? 12.5% LTCG May Save You More
If you sold a property this year, you can pick between 12.5% flat LTCG tax or 20% with indexation. Depending on how much your property's value grew, the flat rate could actually cost you less. Always calculate both before filing.
mint - moneyVRS Payout Tax-Free? 1 ITR Mistake Cost Him Years
An employee received ₹65.21 lakh as VRS compensation after his company shut down. He filed it wrongly in his ITR, triggering a tax demand. ITAT Pune ruled the amount is not taxable and gave him full relief — but only after a long legal fight.
Wealth-Economic TimesZero Tax Due? You Still Must File ITR in 5 Cases
Section 87A rebate can wipe out your tax bill completely, but that does NOT mean you can skip filing your ITR. Here's when zero tax still means you must file — and what happens if you don't.
mint - moneyDA Hike 2025: Is Your Salary Getting ₹2,000+ Extra?
The central government has hiked Dearness Allowance for its employees and pensioners. This raises monthly take-home pay and pension. Here is what it means for your salary, arrears, and tax planning.
mint - moneyGot Salary Arrears? File Form 10E or Lose Tax Relief
If you received salary arrears, advance pay, or gratuity in one year that belongs to earlier years, you can reduce your tax burden using Section 89 relief — but only if you file Form 10E on the income tax portal BEFORE submitting your ITR.
mint - moneyMiss ITR Deadline? Your ₹5,000 Penalty Explained
The ITR deadline for FY 2025-26 is 31 August 2026. Miss it and you pay a late fee of up to ₹5,000, lose certain deductions, and may owe interest on unpaid tax. Here is what you need to know now.
mint - moneyFD Interest Is Taxable: Are You Filing It Right?
Many Indians think FD interest is safe money — but it is fully taxable. If you don't report it correctly in your ITR, you could face a tax notice or miss a refund you deserve.
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