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

Watch out — that income tax form could actually be dangerous malware

Researchers uncovered a fake tax notice campaign that delivered remote-access malware via staged downloads and encrypted communications.

TechRadar

Avoiding the Widows' Penalty Tax Trap After a Spouse Passes

Many surviving spouses are surprised to discover that losing a partner can mean paying higher taxes on less income.

Kiplinger

How High Earners Can Get Through the Income Tax Maze

Income tax rules are more complex than ever, even more so for those earning between $150,000 and $500,000. The solution? Active and intentional tax management.

Kiplinger

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

Didn’t report FD interest in your ITR? Here’s how you can still correct the mistake

Missed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it. The Income Tax Department receives FD interest details, so omissions can be flagged. Filing an Updated Return (ITR-U) within four years allows you to declare missed income and rectify errors, though additional…

The Economic Times

Husband has to pay income tax on wife’s earnings from FD, gold, shares under clubbing of income in these cases

ITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sources and can club income back to the original provider. This applies to FDs, shares, and gold, where income or capital gains from gifted assets are often taxed in the…

The Economic Times

Mumbai IT professional claims Rs 3.91 lakh TDS, gets only Rs 79,000 and Rs 3.36 lakh tax demand as employer failed to deposit tax; here's what happened next

ITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS but has not remitted the same to the revenue. Because of this, full TDS credit didn’t reflect in her Form 26AS and so the Rs 3.91 lakh TDS credit claim was denied. Read…

The Economic Times

Senior citizen mistakenly paid tax on tax-free VRS compensation; wins complete relief from ITAT Chennai on this ground

A senior citizen wrongly paid tax on Rs 24 lakh retrenchment compensation received under a BSNL Voluntary Retirement Scheme. Despite a significant delay, the Income Tax Appellate Tribunal (ITAT) in Chennai granted him full tax exemption, recognizing the compensation as tax-free under Section 10(10B). This ruling offers relief and highlights…

The Economic Times

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

King Charles’ tax bombshell reveals monarch has paid more than £30million to HMRC

Buckingham Palace has disclosed the King’s voluntary income tax and capital gains tax payments for the first time, while Prince William has also released details of his own tax contributions as heir to the throne.

BANG Premier

Note 2200 Embargo: William nets income of xxx as he shares tax bill for first time

(Embargoed to 2200 Thursday June 25)Note embargo – check thisThe Prince of Wales received a private income of £xx million from his Duchy of Cornwall estate – a rise/fall of xxxxx, as he revealed his tax bill for the first time.As heir to the throne, William, the 25th Duke of…

Evening Standard

Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix this

The Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax liability. This involves manipulating claims like House Rent Allowance (HRA) for undue benefits. Taxpayers who engaged in this practice are advised to voluntarily pay the correct tax and interest, or…

The Economic Times

Will the ITR filing deadline for AY 2026-27 be extended? Here's what taxpayers need to know

Taxpayers can breathe easy as the Income Tax Return (ITR) filing deadline for AY 2026-27 is unlikely to be extended. Unlike last year's technical glitches and delayed form releases, this year's process has been smooth, with utilities available on time. Experts advise against banking on an extension and urge prompt…

The Economic Times

No Form 16? Here's how salaried taxpayers can file ITR using AIS and Form 26AS for FY 2025-26

Salaried individuals awaiting Form 16 for ITR filing can still proceed without it. Employers must issue this TDS certificate by June 15th. If delayed, taxpayers can use salary slips, bank statements, and crucial documents like AIS and Form 26AS to verify income and tax details. These online statements, accessible via…

The Economic Times

Do taxpayers need to file two ITRs for FY 25-26 income? I-T Department explains

AY 26-27 and TY 26-27: Confusion surrounding the new Income Tax Act, 2025, and its transition from Assessment Year (AY) to Tax Year (TY) is clarified by the Income Tax Department. Taxpayers will not need to file two returns for income earned between April 1, 2025, and March 31, 2026.

The Economic Times

Have a US 401(k)? Indians must report withdrawals and maturity details in ITR schedules FSI and FA

Indian taxpayers with US 401(k) accounts must now report withdrawals and maturity details in ITR schedules FSI and FA. Failure to disclose can lead to tax issues. Filing Form 40 is crucial for deferring Indian tax until withdrawal, aligning with US taxation and potentially enabling Foreign Tax Credit benefits. New…

The Economic Times

Get all your
news in one place.

100's of premium titles.
One news app.

The Economic Times

Tax reforms to play vital role in attracting global capital to India: Experts

India's economic ascent hinges on predictable and simplified tax reforms to attract global capital, according to a senior financial expert. The proposed Income Tax Code aims for a modern, user-friendly framework, aligning with international standards. The ICAI Singapore Chapter highlighted strides in transparent, tech-driven tax administration, boosting India's appeal as…

The Economic Times

Rs 17.25 lakh income of an employee was added as taxable salary despite working in UK; ITAT Delhi gives him relief under India-UK DTAA

The Income Tax Appellate Tribunal (ITAT) Delhi has ruled that even if a non-resident salaried individual has received any ‘per-diem’ payments from his Indian employer due to his overseas work, then this payment is not taxable under Article 16 of India-UK Double Tax Avoidance Treaty (DTAA).

The Economic Times

Income Tax AY 2026-27: Even if your salary income is below Rs 12.75 lakh, you still need to pay tax for these incomes

Income Tax AY 2026-27: Salaried individuals earning up to Rs 12.75 lakh annually may enjoy zero tax liability due to enhanced Section 87A rebate and standard deduction, but filing an ITR is crucial. However, this rebate doesn't apply to special incomes like capital gains, Virtual Digital Assets (VDAs), and lottery…

The Economic Times

Kolkata woman made Rs 26 crore profit in stocks and paid zero tax: Here's how she did it legally

A Kolkata businesswoman, Saroj Goenka, legally saved ₹26 crore in taxes by reinvesting long-term capital gains from share sales into constructing a residential bungalow. This move, facilitated by Section 54F of the Income Tax Act, saw her win an appeal against tax objections. The case highlights prudent tax planning for…

Get all your
news in one place.

100's of premium titles.
One news app.

The Economic Times

ITR filing for FY 2025-26: Key changes in due dates, ITR forms, and F&O disclosure rules taxpayers must know

The deadline for filing income tax returns for FY2025-26 has arrived, with new rules and forms in effect. Notably, ITR 3 and ITR 4 filings now have a staggered deadline of August 31st, offering some relief. Significant changes include updated disclosure requirements for Futures & Options trading and revised capital…

The Free Financial Advisor

Money Moves Michigan Retirees Should Check After the 2026 Pension Withholding Change

Michigan retirees have watched several years of tax changes unfold, and 2026 marks a major milestone. The state’s phase-in of expanded retirement and pension tax deductions reaches full implementation, which means many retirees could see significant changes in how Michigan income tax withholding works on their pension payments. That sounds…

The Guardian - UK

Dining across the divide: ‘He mentioned the idea of 100% income tax over £350,000. I think the threshold should be lower’

An academic and a medical student share concerns about extremes of wealth and poverty, but do they agree on the monarchy?

Newslaundry

How the RSS changed its constitution to defend legal status and guru dakshina

Karnataka Home Minister Priyank Kharge’s persistent questioning of the Rashtriya Swayamsevak Sangh’s legal status appears to have forced a reckoning of sorts. The organisation’s chief Mohan Bhagwat and other senior functionaries have now claimed that these questions were settled decades ago and are offering “evidence” to that effect.

The Economic Times

Tenant wins tax relief on Rs 38.62 lakh sale of landlord’s property, received for surrendering tenancy rights; know why ITAT Mumbai ruled in his favour

A Mumbai tenant received tax relief after selling a property he obtained for surrendering his tenancy rights. The Income Tax Appellate Tribunal ruled that the fair market value of the surrendered tenancy rights should be considered the cost of acquisition, not nil. This decision significantly reduced the tenant's capital gains…

Golf Monthly

US Open Prize Money Has Hit Record Levels... But How Much Take-Home Pay Does The Winner Actually See?

There is a record prize money payout at the 2026 US Open, but the headline number is nowhere near what the champion will collect next week

Kiplinger

Ask the Tax Editor, June 19: Estimated Tax Payments and Withholding

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on federal estimated tax payments and federal income tax withholding.

1 … 11 12 13 14

People

the Princess of Wales

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

Organisations

the Government of India

144 stories

the Income Tax Department

128 stories

The Kiplinger Tax Letter

Rashtriya Swayamsevak Sangh

58 stories

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

Topics

Places

the Duchy of Cornwall

21 stories

Fourteen days free

Download the app

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