Tax & Budget News India
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Income tax, GST, TDS, budget updates, deductions and ITR filing news.
📰 Latest Tax & Budget News
Property On-Money: Does Your Paper Trail Protect You?
Income tax officers can add unexplained property payments to your taxable income. But if you paid via bank and can explain the source, a tax tribunal can delete that addition entirely. Here's what every flat buyer must know.
taxguruinITR Deadline Aug 31: Which Form Is Yours?
August 31, 2026 is the ITR filing deadline for freelancers, business owners, and professionals with income from business or profession but no audit requirement. Miss it and you face late fees, interest, and loss of key deductions.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsSection 68 Notice? ₹32L Added If You Can't Explain
Under Section 68, the Income Tax Department can add any unexplained cash credit in your bank account to your taxable income. But if you can explain where the money came from — with proof — the addition gets deleted. Here's how to protect yourself.
taxguruinOld Cash Deposits? IT Dept Can Still Tax You 69A
Income Tax officers can add unexplained cash deposits as your income under Section 69A — even years later. But if you have bank statements and loan records proving the source, you can fight and win at the appellate tribunal.
taxguruinEquity Tax Rates in 2025: What You Owe on Stocks?
If you sell stocks, ETFs, or equity mutual funds, your profits are taxed differently based on how long you held them. Hold over 12 months and pay 12.5% on gains above ₹1.25 lakh. Hold less and pay 20% on every rupee of profit.
mint - moneyBig Cash Deposit? 1 Deadline Can Save Your Tax Case
A retired teacher deposited ₹1.33 crore in cash but never filed an ITR. The tax department reopened his case — but lost, because the reassessment notice was issued after the legally allowed time limit had expired.
mint - moneyFreelancer ITR: File the Right Form by Aug 31
Freelancers must file ITR by August 31 using the correct form — usually ITR-4 or ITR-3. Miss it and you pay a penalty. Foreign client income is fully taxable in India too. Here's exactly what to do.
mint - moneyCorporate NPS: Save ₹50K Tax Beyond 80C Limit?
Corporate NPS lets your employer contribute to your pension fund, giving you tax breaks beyond the usual 80C limit. It works alongside EPF, is portable across jobs, and lets you choose how your money is invested. Here's what every salaried employee should know.
mint - moneyITR-5 Live for AY 2026-27: Are You Filing Right?
The Income Tax Department has released ITR-5 filing tools for AY 2026-27. This form is for partnerships, LLPs, AOPs, and BOIs — not individuals. If you or your family runs a firm or LLP, here is what you need to know before the deadline hits.
mint - moneyHUF Tax Trick: Save ₹2.5L Extra on Your Family Income?
A Hindu Undivided Family is a separate legal entity for tax. Salaried people with inherited property, family investments, or rental income can use an HUF to split income, claim a second basic exemption, and legally cut their total tax bill.
mint - moneyPPF at ₹5K/Month: How Much You'll Have in 35 Years?
Putting just ₹5,000 a month into PPF can build serious long-term wealth thanks to compounding. The longer you stay invested, the more your returns dwarf your actual deposits — here's what the numbers look like across 15 to 35 years.
mint - moneyIBC Clean Slate: Are Your Tax Dues Really Gone?
When a company goes through insolvency under IBC, the 'clean slate' rule is supposed to erase old dues. But courts are now allowing tax departments to reopen assessments even after resolution plans are approved, creating serious risk for buyers and directors.
taxguruinIT Raid on Your Neighbour? Your ₹ May Be at Risk
If income tax officers raid someone connected to you and find documents with your name, they can issue you a notice under Section 153C. A recent ruling clarifies exactly when that notice clock starts — and it matters for your defence.
taxguruinFiled ITR on Time? 6 Reasons You May Still Get a Notice
Filing your ITR before July 31 does not protect you from tax notices. Mismatches in income data, unreported earnings, wrong TDS claims, and large cash transactions can still trigger scrutiny from the tax department.
Wealth-Economic TimesOld ITR Reopened? Know Your 4-Year Shield
The income tax department cannot reopen your old tax return after a set time limit. A recent tribunal ruling threw out a ₹17.95 crore tax demand because the notice was sent too late. Here's how this time limit protects you.
taxguruinTax Evidence Ignored? Your ₹ Addition Gets Restored
If a tax officer ignores your submitted evidence and makes big additions to your income, an appellate tribunal can send the case back for a fresh hearing. Your proof must always be considered before any tax addition is confirmed.
taxguruinGratuity Tax Deduction: Did You Pay Before ITR Due Date?
Employers can claim gratuity as a tax deduction under Section 43B only if the amount is actually paid to employees before the ITR filing due date. A recent tribunal ruling confirms this — and says tax audit errors on this point can be corrected.
taxguruinGST Case on You Alone? Why Directors Can Fight Back
A High Court ruled that GST charges against a company director cannot stick if the company itself wasn't made an accused. If you're a director facing GST prosecution, the company must be charged first — otherwise the case can be thrown out.
taxguruinOld ITR Reopened? Section 148 Can Cost You ₹50,000+
The Income Tax Department can reopen your old returns using Section 148. If you get a reassessment notice, ignoring it is the worst thing you can do — courts want you to fight it through proper legal channels, not skip straight to HC.
taxguruinSection 10(16): Is Your Stipend Tax-Free?
Under Section 10(16) of the Income Tax Act, scholarships and stipends meant for education are fully exempt from tax. But if the tax department classifies your stipend as salary, you could lose this exemption and owe tax. Here's what you need to know.
taxguruinUnpaid Loan = Black Money? Tax Rule You Must Know
If you took a real loan and couldn't repay it, the tax department cannot label that unpaid amount as unexplained income under Section 69A. A Delhi tax tribunal recently confirmed this, protecting borrowers from a harsh double penalty.
taxguruinSGB 2020 Matures: Did Your ₹1L Triple? — Aug 2026
Sovereign Gold Bonds from 2020-21 are approaching their premature redemption window in August 2026. With gold prices surging, early investors are sitting on nearly 200% gains — completely tax-free on maturity. Here's what you need to know.
Wealth-Economic TimesFD & KVP Tax Rules: Are You Paying the Right Amount?
Interest earned on fixed deposits and Kisan Vikas Patra is fully taxable. Banks deduct TDS if interest exceeds ₹40,000 a year. But many savers don't declare the full amount in their ITR — and that's a costly mistake.
mint - moneyNRI Property Sale? 20% TDS Can Freeze Your Deal
NRIs selling or buying property in India face heavy TDS deductions, strict FEMA repatriation limits, and capital gains tax rules that are very different from resident Indians. Missing one step can delay your money by months or cost you lakhs in penalties.
mint - moneySigned a JDA? Your Capital Gains Tax May Be ₹0 Now
Signing a Joint Development Agreement with a builder does NOT automatically trigger capital gains tax. Tax is due only when actual transfer happens — usually when you receive your share of flats or sale proceeds. A recent tax tribunal ruling confirms this, saving landowners from premature tax demands.
taxguruinGST Order Received? Your 3-Month Appeal Clock Starts Now
Allahabad High Court ruled that the 3-month deadline to appeal a GST order starts only from the date you actually received the order — not when it was uploaded or issued. This protects small business owners from unfair dismissals.
taxguruinTDS Refund Without ITR? Delhi HC May Change Your Tax Life
A PIL in Delhi High Court asks why people with no tax liability must still file an ITR to get TDS refunds. If the court rules in favour, crores of low-income earners and salaried Indians could automatically get their TDS money back — no ITR needed.
mint - moneyGold Near ₹96K: Is Buying Now a Smart Move?
Gold prices are hovering near record highs in India, driven by global uncertainty and a weak rupee. Before you rush to buy or sell, here's what you actually need to know about gold as a personal finance tool.
Personal Finance News in CNBCTV18, Personal Finance Latest News, Personal Finance NewsREIT & InvIT Dividends: Your ₹0 Tax Bill Explained
Parliament passed a law making dividends from REITs and InvITs tax-free for investors in certain cases. This is big news for anyone earning passive income from real estate or infrastructure investment trusts. Here's what it means for your money.
Wealth-Economic TimesFreelancer ITR Due 31 Aug: 5 Rules You Must Know
Freelancers in India must file their income tax return by 31 August if they don't need an audit. Choosing the right ITR form, tax method, and claiming proper deductions can significantly cut your tax bill.
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