PAN Card Not Required For Property Deals Below ₹20 Lakh, New Income Tax Rule Likely From April 1, 2026
In a major relief for property buyers and sellers, the Income Tax Department has proposed a new rule that may remove the need to provide a PAN card for property …
IT Notices On The Rise: Most Common Red Flags That Get Taxpayers Scrutinised
Dozens of senior executives earning over Rs 50 lakh annually have recently received income tax notices after the Income Tax Department flagged alleged discrepancies in their returns. Earlier, thousands of …
MAT revamp prompts capital-intensive firms to modify tax planning
The proposed changes to the Minimum Alternate Tax (MAT) regime, announced in the Union Budget for FY27, will significantly impact companies in capital-intensive sectors such as infrastructure, Special Economic Zone (SEZ) units and …
Cash gifts from family, relatives not exempt from income tax if you fail to explain these details, says ITAT
Cash gifts from relatives are generally tax-free under the Income Tax Act. But a recent case discussed by tax advisory platform TaxBuddy in a social media thread shows how exemption can …
The biggest change since IndAS adoption is coming: Merging tax, financial accounting regimes
India is preparing to merge its diverging tax and financial reporting frameworks into a unified system, two people aware of discussions said, in a move aimed at dismantling one of …
Ceiling on UDIN generation at UDIN Portal will come into effect from 1st April 2026
The Council, at its 442nd meeting held on 26th–27th May 2025, has decided to implement a ceiling on the maximum number of UDINs that can be generated …
From property deals to foreign assets: how the Income-Tax Department tracks your money
Have you ever thought about how the tax department finds out about your bank deposits, spending habits, property deals or stock-market activities? India’s income-tax system has quietly transitioned from one …
EPFO to appoint new partner agencies, change custodian after 15 years
The Employees’ Provident Fund Organisation (EPFO) is in the process of appointing new partner agencies as the retirement fund manager looks to empanel a new custodian after nearly 15 years, …
New Income Tax Rules Decoded: How fewer forms, tax-free perks and higher HRA benefit taxpayers
The Central Board of Direct Taxes (CBDT) has released the draft Income-tax Rules and Forms ahead of the Income-tax Act, 2025, coming into force on April 1. Kuldeep Singh explains the …
One-time capital gains set-off dropped in latest version of Income Tax Act 2025: How it impacts your tax bill
The previous draft of the Income Tax Act, 2025 had a beneficial provision that has been taken out in the most recent version. This provision was a one-time relief for …
