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The Latest Breaking News from ET Wealth Online

Employee wrongly reported Rs 65.21 lakh VRS payout in ITR, lost tax relief; ITAT Pune rules the amount is not taxable and grants him relief

Employee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and gives him relief from tax. Know how this empoyee won the case in ITAT Pune.

The Economic Times

Did you claim a minimum Rs 10,000 income tax refund for your car bought in FY26? Here's how to claim your 1% TCS now

According to the income tax rules, car dealers are required to deduct 1% TCS if the ex-showroom value of the car exceeds Rs 10 lakh. However, do not confuse your total car cost with the ex-showroom price, which is the base retail cost excluding any kind of taxes, accessory charges…

The Economic Times

Bengaluru landowner sells 17 apartments, earns Rs 11.8 crore LTCG, pays no tax; I-T dept sends notices; he contests and wins in ITAT Bangalore

Landowner sells 17 apartments, earns Rs 11.8 crore gains, paid no tax, reinvests gains into 5 properties; tax dept sent notice; he wins case in ITAT Bangalore. Read the article to know the landowner won the tax case in ITAT Bangalore.

The Economic Times

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Child education allowance tax benefit in ITR filing for FY 25-26: Know when you can claim it

Salaried employees can claim child education allowance tax exemption under the old tax regime. This exemption is available for up to two children per taxpayer. For FY 2026-27, the monthly limit increases significantly to Rs 3,000 per child. Self-employed individuals and those opting for the new tax regime cannot claim…

The Economic Times

CBDT clarification: All approvals like Nil or lower TDS certificate and existing tax benefits will continue under Income Tax Act, 2025; Here’s what it means for you

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications filed before March 31, 2026, will be processed under the new law. Lower or nil TDS certificates issued previously remain protected and valid. New applications filed after April 1, 2026, will follow the 2025 Act.…

The Economic Times

Is Rs 2 crore enough for retirement? See the monthly income you can generate and how long your corpus may last

Retirement planning India: Retiring with Rs 2 crore? Experts advise a prudent 3.5-4% withdrawal rate, yielding around Rs 60,000-Rs 70,000 monthly. This sustainable income hinges on lifestyle, inflation, and investment strategy, with a balanced portfolio of equities and bonds crucial. Avoiding common pitfalls like excessive early withdrawals and neglecting healthcare…

The Economic Times

Need Rs 1 lakh urgently? Think again before withdrawing it from your retirement fund as it could cost you Rs 30 lakh later

Retirement planning: Dipping into your retirement corpus for urgent needs can be a costly mistake, potentially costing you lakhs by retirement. Experts emphasize building a robust emergency fund, ideally covering six months to two years of expenses. This fund, held in low-risk, easily accessible instruments like savings accounts or liquid…

The Economic Times

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Forged Will row: Buyer should not face criminal case for purchasing land on the basis of Will which police found to be forged; rules SC

The Supreme Court has shielded an innocent land buyer from criminal charges in a forged Will case. The buyer, unaware of the forgery, purchased 1.31 acres based on a fake Will. The court ruled that a bona fide purchaser, lacking knowledge of the fraud and not linked to the conspiracy,…

The Economic Times

On ESOP value over US$ 60,000 US estate tax up to 40% can be levied after death of even a non-US resident; Here’s how to manage its impact on legal heirs

Indian professionals holding US ESOPs and RSUs face a significant risk of up to 40% US estate tax on assets exceeding $60,000 after their death. This applies even if they are non-residents. Experts suggest strategies like routing shares through GIFT City, investing in UCITS ETFs, or lifetime gifting to mitigate…

The Economic Times

New labour code: Appointment letters must mention job role, workplace, and other key conditions; here's how employees benefit

New labour code rules mandate employers to issue detailed appointment letters, ensuring clarity on job roles, wages, and social security benefits. This standardized format, previously limited to certain sectors, now extends to all, reducing ambiguity and disputes. Employees in informal sectors stand to gain significantly from this move towards greater…

The Economic Times

New labour code: 3 employee-friendly changes that could make working life easier

New labour codes and central government rules simplify employee compliance by consolidating 29 fragmented laws into a unified framework. This brings procedural clarity, electronic filings, and a single registration system, enhancing transparency and formalizing employment. Employees benefit from expanded protections, including gratuity for fixed-term workers and dedicated schemes for gig…

The Economic Times

Income tax alert: These taxpayers could receive scrutiny notices by June 30, 2026 under Section 143(2)

The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadline of June 15, 2026, requires tax officers to forward selected cases for scrutiny. Taxpayers with errors can file updated returns or provide explanations during scrutiny.

The Economic Times

Celebrities are buying land in temple cities; but should you follow suit and buy property?

Celebrities are investing in temple cities like Ayodhya, drawn by cultural significance and potential for long-term asset growth. These spiritual hubs are experiencing rapid infrastructure development and rising tourism, driving property appreciation. Individual buyers should research economic fundamentals and infrastructure pipelines rather than solely following celebrity trends.

The Economic Times

Property buyers alert: Verify carpet area on UPRERA portal and don’t buy apartment on the basis of super area, advises UPRERA Authority

UP RERA is strongly advising homebuyers to purchase properties based on carpet area, not super built-up area. This ensures buyers pay only for usable living space, as super area includes shared common facilities. Homebuyers can verify the carpet area on the UPRERA portal before making any investment decisions.

The Economic Times

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The Economic Times

FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on…

The Economic Times

Will rising inflation bring good news of higher interest rate for FD investors in coming RBI MPC meeting on June 5

The RBI is widely expected to keep the repo rate unchanged at 5.25% in the June 5 MPC meeting despite concerns over rising fuel prices, a weaker rupee and geopolitical tensions. Experts believe FD rates are unlikely to rise soon as liquidity conditions, credit growth and deposit growth have stabilised.…

The Economic Times

Want to exchange old gold for new jewellery? Beware of these taxes

Indians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-value gold transactions, including large cash deposits or unexplained sources of funds. Proper documentation is crucial to avoid scrutiny and penalties, especially when dealing with inherited, gifted, or imported…

The Economic Times

Selling property in England after the owner's death? Legal heirs may need Probate of Will or Letters of Administration first

Legal heirs in England and Wales require a Grant of Probate or Letters of Administration to sell property and manage a deceased person's estate. While not always mandatory for jointly owned assets or to cover immediate funeral expenses, these grants are crucial for accessing bank accounts and proving legal authority.

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The Economic Times

10 lowest floating vs fixed home loan interest rates: PNB, ICICI Bank, Bank of Baroda and more

Home loan interest rates: Choosing a home loan involves comparing floating and fixed interest rates. Floating rates can decrease but also increase with RBI policy. Fixed rates offer stable EMIs, which can be beneficial as income grows. ET Wealth Online presents the 10 lowest fixed and floating home loan rates…

The Economic Times

Inherited property via Will? Do you need mutation in your name - here’s what law says

Inheriting property via Will? While mutation records update who pays taxes, they don't transfer ownership. Courts permit mutation for heirs but clarify it's not proof of ownership. Legal heirs become co-owners and cannot evict others without a court order or formal partition. Long possession alone doesn't grant ownership; adverse possession…

The Economic Times

8th Pay Commission latest update: Railway technical staff seek multiple fitment factors, higher HRA, pay fix

Railway technical supervisors have put forward significant demands to the 8th Pay Commission. Key proposals include a Rs 52,000 minimum salary and multiple fitment factors. They also seek higher House Rent Allowance rates and the inclusion of training periods for MACP calculations. The association aims for these suggestions to be…

The Economic Times

Gold vs silver: Where to put Rs 1 lakh today? Experts suggest allocation strategy as gold-silver ratio drops below 55

An ideal allocation between gold and silver should depend on an individual’s risk appetite, financial goals and investment goals, Guha underlines. “Gold can be part of the core investment portfolio. Silver can be allocated for a diversified profile and a tactical allocation to benefit from industrial demands and short-term higher…

The Economic Times

India to use AI to protect consumers from money mule banking cyber fraud, announces Home Minister Amit Shah

India will now use Artificial Intelligence to fight money mule banking cyber fraud. The Home Minister announced a partnership between the Indian Cyber Crime Coordination Centre and the Reserve Bank of India’s Innovation Hub. This collaboration will help detect and block suspicious accounts faster. Consumers can expect safer digital transactions…

The Economic Times

Builder denied proper parking? Know your rights under RERA & key court rulings

Homebuyers facing parking disputes with builders now have legal recourse. Judicial precedents and RERA guidelines offer clarity on issues like inadequate space, guest parking, and pillar encroachments. Key rulings distinguish between common areas and sellable garages, while RERA mandates transparency on parking dimensions. Understand your rights to combat builder's unfair…

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