Get all your news in one place.

100's of premium titles.
One app.

Get all your news in one place.

100's of premium titles. One news app.

The Latest Breaking News from Income Tax

Rs 22.94 lakh LTCG for land sale of Rs 92 lakh invited tax notice; Gujarat HC ruled in her favour after 9 years fight; Know why

Lady got tax notice after selling land for Rs 92 lakh and reporting Rs 22.94 lakh LTCG in ITR; Know how Section 55A(a) helped her win case in Gujarat HC after 9 years fight. Read the article to know the details.

The Economic Times

Lady reported Rs 22.94 lakh LTCG after Rs 92 lakh land sale, faced tax notice; Gujarat HC ruled in her favour after 9 years fight; Know why

The Economic Times

£30bn HMRC bombshell as millions more pensioners dragged into paying tax

Millions more pensioners are paying income tax after frozen thresholds pushed HMRC's take to £29.8bn, while pension tax relief climbed above…

The National (Scotland)

From analysis to the latest developments in health,
read the most diverse news in one place.

Man was denied Section 54F income tax exemption as builder delayed villa construction by 4 years; Telangana HC grants relief, says taxpayer can't suffer for builder's fault

Builder delayed villa's construction by 4 years, thus tax dept denied Section 54F tax exemption to homebuyer; Telangana HC says homebuyer can't be penalised for builder's fault and gives him 54F tax exemption. Know how homebuyer won Section 54F tax exemption case in Telangana High Court.

The Economic Times

Over 5.9 crore income tax returns filed by July 31 for AY27 as deadline closes

More than 5.9 crore income tax returns were filed by the July 31 deadline. This figure represents filings for assessment year 2026-27 by individuals and HUFs. Last year's extended deadline saw over 7.3 crore returns filed by September 16. Taxpayers typically file a substantial share during the final week before…

The Economic Times

Missed filing your ITR by July 31, 2026? Know your options and here’s what you can do now

Taxpayers missing the July 31, 2026 income tax return deadline have options. A belated ITR can be filed until December 31, 2026, with a late fee. Alternatively, a condonation of delay application can be submitted for acceptance. Filing after the due date incurs interest on unpaid taxes and potential loss…

The Economic Times

What does Andy Burnham's devolution plan mean for London transport, jobs and housing?

Andy Burnham said Sir Sadiq Khan and other regional leaders in England will get to keep a portion of income tax and business rates to spend as part of a major devolution shake-up

Evening Standard

Read news from The Economist, FT, and more,
with one subscription

Ask the Tax Editor, July 31: Questions on Income Tax Credits

In this week's Ask the Editor Q&A, Joy Taylor explains the difference between refundable and nonrefundable tax credits and answers more questions from readers.

Kiplinger

Giving mayors a share of tax collected will ’empower’ regions, Burnham says

The Prime Minister announced that regional mayors will be allowed to keep a slice of income tax and business rates to spend on their priorities.

Evening Standard

ITR filing deadline extension: Will Income Tax Department extend July 31 ITR filing due date? Here’s what chartered accountants believe

ITR filing deadline: Nearly 5.44 crore taxpayers filed income tax returns for AY 2026-27 by July 30. Experts suggest the July 31 deadline extension for income tax returns is unlikely. The e-filing portal has been functioning smoothly with no widespread technical issues reported. Taxpayers should file their returns by the…

The Economic Times

Don’t worry if you miss July 31, 2026 ITR filing due date as belated ITR with late fee can be filed by this date; Know who can file it

ITR filing deadline: Missing the July 31 income tax filing deadline allows for belated returns. Taxpayers can file a belated return within nine months of the tax year's end. A revised return can be filed within twelve months of the tax year's end.

The Economic Times

What if you miss the July 31, 2026 ITR filing due date? Here are your options

Missing the July 31, 2026 ITR filing deadline incurs a late fee. Belated returns can be filed with interest and a penalty up to Rs 5,000. Crypto investors lose the ability to carry forward losses to future tax periods. Non-filing can trigger tax notices from the department. Options include condoning…

The Economic Times

Not prepared for ITR filing: Should you file your ITR now with available information or wait and file a belated ITR?

Taxpayers face a choice between filing income tax returns now or later. The income tax return due date is approaching for many individuals. Filing a revised return corrects errors but large deviations may attract scrutiny. Belated returns are an option if the original deadline is missed. Missing the belated deadline…

The Economic Times

Burnham vows to give mayors a share of income tax in devolution push

IN FULL

The Independent UK

Get all your
news in one place.

100's of premium titles.
One news app.

Evening Standard

Sadiq Khan handed more powers and income tax cash as Andy Burnham announces huge devolution drive

Prime Minister confirms London mayor will get to keep portion of income tax and business rates as part of pledge to ‘take power out of Westminster’

The Guardian - UK

Burnham to free mayors from ‘Treasury death grip’ with new devolved powers

Local leaders say plan will transform funding so English regions no longer rely on Whitehall handouts for projects

Ballotpedia

Missouri voters will decide four amendments on Aug. 4. Here's what to know.

Missouri voters will be deciding four statewide ballot measures on Aug. 4, 2026.

Kiplinger

Cut Your Taxes With Tax-Loss Harvesting in 2026

Turn market drops into lower taxes by offsetting your capital gains.

Get all your
news in one place.

100's of premium titles.
One news app.

The Economic Times

Rs 1,000 or Rs 5,000 late filing fee for missing ITR filing deadline of July 31? How much fine you may need to pay and why

ITR filing deadline: The July 31, 2026, deadline is crucial for many taxpayers filing income tax returns. Missing this date incurs a late filing fee based on total income. Belated returns for AY 2026-27 can be filed until December 31, 2026. E-verification within 60 days is necessary to validate the…

The Economic Times

July 31 isn't the ITR deadline for everyone: Who can file income tax returns by August 31, 2026?

The income tax return filing deadline for salaried individuals remains July 31, 2026. However, certain taxpayers with business income can file by August 31, 2026. This extension provides additional time for finalizing accounts and completing the filing process. Companies and those subject to tax audits must file by October 31,…

The Economic Times

Confused about ITR forms? Here's how to pick the correct ITR for AY 2026-27

Choosing the right Income Tax Return form for AY 2026-27 depends on income sources. ITR-1 now allows reporting income from two house properties. Salary, house property, and other sources can be reported in ITR-2. Business or professional income generally requires ITR-3 or ITR-4. Complete income profile determines the final ITR…

Evening Standard

'No evidence Andy Burnham anti-London' says Sadiq Khan as new PM to reveal devolution plans

Sir Sadiq says he’s ‘very excited about the direction of travel’ amid reports Andy Burnham will give mayors a share of income tax revenue

Kiplinger

With the Widow's Penalty, Prevention Is Better Than the Cure: A Financial Adviser Explains Why

Don't get hit with a higher tax bill just when you've lost your spouse. You can deal with it once the worst has happened, but it's far better to plan ahead.

The Economic Times

ITR filing mistakes to avoid before July 31 deadline: Expert reveals 5 mistakes that can lead to delays, failure of ITR form submission

ITR filing : Taxpayers rush to file income tax returns before the July 31 deadline. Common errors include not e-verifying and mismatched personal details. Reconciling income with Form 16 and AIS is crucial for successful submission.

The Economic Times

TDS deducted but you haven't filed your ITR yet? Here's what happens if you miss the July 31 deadline

Failing to file your income tax return by July 31, 2026, after TDS deduction has consequences. You will face interest charges and a late filing fee for delayed submissions. Not filing an ITR prevents claiming refunds and carrying forward losses. Virtual digital asset income is taxed regardless of the exemption…

1 2 3 4 5

People

From analysis to the latest developments in health,
read the most diverse news in one place.

Organisations

The Kiplinger Tax Letter

107 stories

the Income Tax Department

88 stories

Telangana High Court

78 stories

The Gujarat High Court

Income Tax Department

42 stories

The Telangana High Court

Read news from The Economist, FT, and more,
with one subscription

Topics

Places

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.