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MYSTERIOUS: Income tax news topic - You Need To See This

Cuts to income tax: experts back the measures but warn situation in Portugal may worsen

A cut in income tax and pension bonuses bring some relief amid inflation and clawback measures, but global conditions may yet make matters worse.

Euronews

Pension peril: is it time to unpick the triple lock?

Letters: Readers are divided on whether the triple lock should stay or go

The Guardian - UK

ITR filed under old tax regime by mistake, income tax paid under new regime: How a lady won case in ITAT Delhi

Filed ITR under the old tax regime but paid income tax under the new tax regime; ladywins case in ITAT Delhi after proving her accountant mistakenly filed this ITR under the old tax regime. M. Balaganesh, Accountant Member and Sudhir Kumar, Judicial Member of ITAT Delhi heard this case.

The Economic Times

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Tax Help in New York: What NYC Taxpayers and Businesses Need to Know

New York has one of the most complex tax environments in the country, and one of the most aggressive collection cultures. Between a state income tax, high living costs, a dense small-business economy, and — for city residents — an additional layer of New York City taxes, a lot of…

inkl

How much money can NRIs transfer from NRO to NRE account in a year?

Non-Resident Indians can effectively manage their Indian earnings via NRO accounts. They are allowed to transfer funds to NRE accounts, but there are specific regulations to follow.

The Economic Times

Voters in six states are deciding on nine income or wealth tax measures this year — the most since 2000

Welcome to the Wednesday, Sept. 16, 2026, Brew.

Ballotpedia

Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reason

Student gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; She wins case in ITAT Delhi; Know how did she win and what is the income tax treatment of scholarship.

The Economic Times

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Delhi HC quashes seven ITAT orders in Patanjali case, flags 'shocking' procedural lapses and undue haste

The Delhi High Court has quashed seven orders passed by the Income Tax Appellate Tribunal (ITAT) in a batch of cross-appeals involving Patanjali Ayurved Ltd., terming the manner in which the Tribunal dealt with the matters a "shocking picture" of procedural lapses and opaqueness.

The Economic Times

NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITAT

The NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge and had entrusted an accountant with all her tax-related compliance; hence, she was not made aware of the notices issued. Moreover, after becoming aware of her mistake, the lady even paid the tax liability with…

The Economic Times

Will I pay income tax on my state pension after £489-a-year rise?

Some pensioners will be dragged into paying income tax – but there are exemptions

The Independent UK

Advance tax deadline today: What will be the consequences if you miss September 15, 2026, due date?

The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs penal interest charges. Advance tax is income tax paid in instalments during the financial year. Individuals with a tax liability exceeding Rs 10,000 must pay advance tax. Penal interest under Sections 234B and…

The Economic Times

Indian moves to US for job, forgets to file ITR, Income Tax Dept imposes Rs 8.29 lakh penalty; ITAT Jaipur cancels penalty and gives full relief

Indian employee working in US imposed with Rs 8.29 lakh penalty for missing to file ITR after moving to US; ITAT Jaipur cancels penalty and gives full relief. ITAT Jaipur’sSMC bench who heard this case composed of Annapurna Gupta, accountant memberand Kuldip Singh, judicial member.

The Economic Times

Home Loan Prepayment: Should You Cut the EMI or the Tenure to Save More Interest?

Why the choice matters more than the prepayment itselfMaking a lump-sum prepayment on a home loan is one of the highest-return financial moves available to a salaried Indian borrower. On a ₹50 lakh loan at 8.5% over 20 years, the total interest outgo is roughly ₹58 lakh, more than the…

Times Life

Rs 6.42 lakh travel expense disallowed as business expenditure over use of wife’s credit card; businessman contests tax order, wins relief in ITAT Mumbai

Rs 6.42 lakh foreign travel expenditure disallowed from business income as businessman used wife’s credit card to pay for it; ITAT Mumbai gives relief to taxpayer. Challa Nagendra Prasad, Judicial Member and G.M. Doss, Accountant Member of ITAT Mumbai heard this case.

The Economic Times

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The Economic Times

Taxable income below Rs 12 lakh: Will you pay zero income tax if this income includes LTCG and STCG for Tax Year 2026-27?

Indian residents and HUFs can use the basic exemption limit to lower capital gains tax. This provision under the Income Tax Act, 2025, remains available for Tax Year 2026-2027. Unused portions of the exemption limit can offset special-rate capital gains after normal income is accounted for. Non-residents, firms, and companies…

The Economic Times

FD rate up to 8.5% for senior citizens investing for five years; know the list of banks

Select small finance banks offer senior citizens fixed deposit rates up to 8.5 percent. Suryoday Small Finance Bank provides 8.5 percent interest on five-year fixed deposits for seniors. Jana Small Finance Bank offers 8 percent interest on similar fixed deposit terms. Banks deduct TDS on FD interest exceeding one lakh…

The Economic Times

Rs 1.17 crore interest income of minor child: Father faces Rs 12.83 lakh penalty; ITAT Delhi cancels it

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent judgement ruled that a father can’t be slapped with Rs 12.83 lakh penalty under Section 270A if his ITR-reported income matches the assessed income and the only point of contention is the tax benefit…

The Economic Times

Mumbai’s ‘Special 26’ twist: Sacked driver, 2 I-T officials stage fake raid for Rs 1 crore

A sacked driver and two Income Tax officials attempted a fake raid. They demanded one crore rupees from a former employer's Mumbai office. The company owner foiled the extortion attempt by asking for authorization documents. Police have arrested ten individuals, including the two serving Income Tax officials. Investigations are ongoing…

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The Economic Times

Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT Ahmedabad

Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no ITR, got an unexplained money tax notice u/s 69; he partially wins case in ITAT Ahmedabad

The Economic Times

Rs 2.42 lakh FD investment and Rs 1.06 lakh cash deposits, no ITR filed, got income tax notice; senior citizen wins case in ITAT Jaipur after 9-year fight

No ITR filed, yet Rs 2.42 lakh FD investment, Rs 1.06 lakh cash deposits triggers tax notice for senior citizen; she wins case in ITAT Jaipur after 9 years fight. Know how Mrs Devi won the case in ITAT Jaipur.

Ballotpedia

Voters in six states to decide eight income or wealth tax ballot measures in 2026

In 2026, voters in six states will decide—or have already decided—nine statewide ballot measures related to income or wealth taxes. On August 4, voters defeated Missouri Amendment 5, which would have required reductions in the individual income tax until the tax was eliminated in the state. The remaining eight measures…

The Economic Times

Rs 34 lakh F&O trading loss: Income Tax dept calls it speculative, ITAT Delhi treats Rs 25 lakh as business loss

Taxpayer lost Rs 34 lakh in F&O trading but reports it as business loss; Income Tax dept treats it as speculative loss; ITAT Delhi treats Rs 9 lakh as speculative and the rest as business loss. The ITAT Delhi bench comprised of Sudhir Kumar, Judicial Member and Manish Agarwal, Accountant…

The Economic Times

Landlord deposited Rs 14.96 lakh cash during demonetisation, got tax notice: ITAT Bangalore grants relief

Landlord took rent in cash, deposited Rs 14.96 lakh cash during demonitisation period; got Income tax notice, he wins case in ITAT Bangalore. The ITAT Bangalore bench which heard this case comprised of Waseem Ahmed, an accountant member and Keshav Dubey, a judicial member.

The Economic Times

Income Tax Dept seized gold, diamonds and silver in a tax search operation from lady’s house and bank locker; she wins case in ITAT Mumbai

How wife’s 35 yrs old marriage and inheritance helped her win case in ITAT Mumbai after Income Tax Dept seized her gold, diamond, silver items and jewellery kept in house and bank locker

The Economic Times

Gurgaon RWA sought charitable trust registration with rental and maintenance income; ITAT Chandigarh rejected RWA’s appeal for this reason

RWA earned rent by letting out common areas and collected maintenance from residents and seeked charitable trust registration; ITAT Chandigarh rejects RWA’s appeal. Laliet Kumar, a Judicial Member and Manoj Kumar Aggarwal, an Accountant Member of the Income Tax Appellate Tribunal (ITAT) Chandigarh gave this judgement.

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