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UNCOVERED: 3 - The Untold Story

Lady with Rs 5.28 lakh income pays no tax despite Rs 1.42 lakh STCG from equities; Know why ITAT Mumbai allowed the Section 87A rebate

Ever since the Income Tax utility has disabled the option to claim Section 87A tax rebate on short term capital gains (STCG) from listed equities in 2024, a flurry of taxpayers from across the country were left with either a tax demand or an uncertain thought. Read to know how…

The Economic Times

Popular Capital Gains Tax ETF Strategy Catches Treasury's Attention

As Section 351 exchanges gain popularity, the Treasury Department is considering whether certain transactions could lead to abusive tax outcomes.

Kiplinger

How to file ITR-3 online on the Income Tax e-filing portal for AY 2026-2027

Individuals with business income must file ITR-3 for AY 2026-2027. This form captures various income sources, including salary and capital gains. Taxpayers can file ITR-3 online through the e-filing portal. The process involves filling general information and specific schedules. E-verification must be completed within thirty days of submission.

The Economic Times

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Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax notices

NRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of shares from a son to his father is not regarded as a transfer for capital gains purposes in the hands of the donor, the reporting…

The Economic Times

What a Delaware Statutory Trust Can Do for Your Kids That Your Will Can't

Delaware Statutory Trusts (DSTs) can keep capital gains taxes at bay when your children inherit your property. But you need to handle them smartly.

Kiplinger

Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT Bangalore

Filed revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's decision and won case in ITAT Bangalore. Know how the taxpayer won the case in ITAT Bangalore.

The Economic Times

How to select the right ITR form based on your income for AY 2026-2027

Choosing the right income tax return form for AY 2026-27 depends on income sources. Individuals can now report two house properties using ITR-1 under specific conditions. Salary, house property, and other sources may qualify for ITR-1 if income is below fifty lakh. Business or professional income typically requires ITR-3 or…

The Economic Times

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ITR filing: Claimed capital gains exemption? The 3-year tax trap that may trigger income-tax notices

Many taxpayers wrongly believe that capital gains deposited in the Capital Gains Account Scheme (CGAS) become taxable only on withdrawal. This article explains the overlooked three-year rule under Sections 54 and 54F, why it leads to income tax notices and the key compliance checks taxpayers should undertake while filing their…

The Economic Times

Rs 1 lakh Investment turns into Rs 2.98 lakh: Sovereign Gold Bond 2021-22 Series premature redemption date today

The Reserve Bank of India has set the premature redemption price for SGB 2021-22 Series-IV. Investors can redeem these bonds prematurely from July 20, 2026, after five years. Tax rules apply to capital gains on premature redemption of these bonds.

The Economic Times

These property sellers may need to re-compute advance tax after delayed release of Cost Inflation Index for tax year 2026-27; here’s what to do

Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property acquired before July 23, 2024. Advance tax payments for the first quarter were due before the index was notified. Underestimating tax liability could lead to interest charges for deferred payments.…

The Economic Times

What Shabana Mahmood as chancellor could mean for your money and taxes

From income tax to capital gains levies – we examine how Andy Burnham’s likely new chancellor could impact your wallet

The Independent UK

2026 Capital Gains Tax Rates by State: How Much Investors Pay This Year

Selling investments at a profit can be rewarding for some — until tax season arrives. And federal taxes are just one part of the equation.

Kiplinger

Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon session

Parliament will soon consider a bill to replace an ordinance on tax exemptions. This aims to attract foreign capital and stabilize the rupee. The proposed legislation seeks to deepen India's sovereign debt market. It will also enhance liquidity amid global economic uncertainties. Another bill to amend MSME Development Act will…

The Economic Times

Cost Inflation Index: How it can help you file your income tax return

The Income Tax Department has announced the Cost Inflation Index for the upcoming tax year. This index, set at 384, will adjust asset acquisition costs for capital gains. It becomes effective from April 1, 2026, impacting future tax calculations.

The Economic Times

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The Economic Times

ITR 2026: Common income tax return filing mistakes that cost employees lakhs

A careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensuring that all eligible deductions and benefits are correctly claimed. The Income Tax Return (ITR) filing due date for salaried individuals is July 31, 2026 if they are not liable for tax…

The Economic Times

Selling Gold? Your tax bill depends on how you own it; ETFs, SGBs, jewellery and digital gold compared

Unlike Gold ETFs, both physical gold and digital gold have longer required holding periods for realizing long-term gains. Additionally, Sovereign Gold Bonds will see changes in capital gains tax exemption starting April 2026. Tax implications for inherited or gifted gold depend on how and when the gold is sold.

International Business Times

Britain Is Changing How It Taxes Crypto. DeFi Users Will No Longer Face Immediate Capital Gains Bills.

The United Kingdom is overhauling the way it taxes certain cryptocurrency transactions, becoming one of the first major economies to formally recognize that lending digital assets and participating in decentralized finance liquidity pools do not always represent a meaningful change in ownership.

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.

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Euronews

Where are property taxes highest and lowest in Europe?

Buying a home in Europe? Taxes follow you from purchase to sale. Here's where property is taxed most and least.

The Economic Times

ETMarkets Smart Talk | Equity, mutual funds, bonds or property: Tax rules every NRI should know: Ritu Shaktawat

NRIs investing in India must understand tax rules and residential status. Double Taxation Avoidance Agreements offer beneficial tax treatments for certain income streams. Recent changes affect capital gains and mutual fund taxation significantly for investors. Careful planning of investment exits and documentation is crucial for compliance. Adhering to FEMA and…

The Economic Times

ETMarkets Smart Talk | Selling property in India? Here's how NRIs can avoid excess TDS: Trilegal's Himanshu Sinha

NRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaining a Lower TDS certificate can prevent over-withholding on sale consideration. Understanding capital gains tax and available exemptions is crucial for maximizing returns. Recent changes have altered capital gains taxation for equities and debt funds.…

Kiplinger

Take These Steps to Tame Your Taxes In Retirement

Worried about rising rates? Here’s how to avoid a bigger bill after you stop working.

The Economic Times

Confused about ITR forms? Check the right ITR for salaried, pensioners, students and other taxpayers

Salaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Taxpayers not requiring an audit can use ITR-1, ITR-2, or ITR-3 for their filings. The due date for filing income tax returns is July 31, 2027. Certain transactions necessitate filing an ITR even below basic exemption…

Kiplinger

3 Tax-Efficient Legacy-Building Strategies for High-Net-Worth People, Courtesy of an Estate Planner

If you have a high net worth, you need the kind of estate planning that navigates complex tax landscapes to ensure you pass on the maximum amount of wealth.

The Economic Times

Gifted a house to your spouse? You may still have to pay tax on the rental income: Know 7 key things before filing ITR for AY 2026-27

Many taxpayers mistakenly believe that rental income from a house gifted to a spouse is taxable in the recipient spouse's hands. This article explains the clubbing and deemed ownership provisions under Sections 27 and 64, the correct ITR reporting requirements, and seven key things taxpayers should know before filing ITR…

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