Income Tax News

Doctor Pays Rs 58 Crore in Tax on Rs 149 Crore Income, Sparks Debate Over Taxpayer Value

04 September 2026 at 09:09

Dr Aniruddha Malpani's Rs 58 crore tax payment sparks debate on X over taxation, public spending, infrastructure and taxpayer value in India.

Posted in Income Tax | 2 comments | 17799 Views

Income from House Property Under Income Tax Act 2025

03 September 2026 at 09:26

Learn Income from House Property tax rules, GAV calculation, 30% standard deduction, home loan interest, self-occupied and let-out property rules, deemed ownership and composite rent.

Posted in Income Tax | 1 comments | 22737 Views

HUF Tax Rules 2026: New Tax Regime Slabs, Surcharge and Partition Provisions

01 September 2026 at 09:22

Understand HUF taxation under Finance Act 2026, including residential status, tax rates, AMT applicability, foreign tax credit, deductions, surcharge and HUF partition provisions.

Posted in Income Tax | 1 comments | 22557 Views

NRI Tax Rules Under Income Tax Act 2025: Key Residential Status and FEMA Provisions

31 August 2026 at 09:13

Income Tax Act 2025 provisions for non-residents explained: residential status, ROR, RNOR, taxable income, business connection, SEP and key FEMA rules.

Posted in Income Tax | 1 comments | 3351 Views

Maintenance of Books of Accounts Under Income Tax Act, 2025

29 August 2026 at 09:27

Check the latest books of accounts rules under Section 62 of the Income-tax Act, 2025, including threshold limits, required records, 7-year retention and Rs 25,000 penalty.

Posted in Income Tax | 1 comments | 25695 Views

ICAI Extends Bulk UDIN Generation Facility to Tax Audit and Audit & Assurance Functions

29 August 2026 at 09:07

ICAI has extended the Bulk UDIN Generation facility to Tax Audit and Audit & Assurance Functions. Know the UDIN limit, process, OTP verification and modification options.

Posted in Income Tax | 1 comments | 2721 Views

Income Tax Exemption on Armed Forces Allowances Under Income Tax Act 2025

28 August 2026 at 09:30

The IT Act 2025 provides tax exemptions on several allowances received by armed forces personnel, including Siachen Allowance, High Altitude Allowance, Counter Insurgency Allowance, and Field Area Allowances. Check exemption limits and eligibility.

Posted in Income Tax | 1 comments | 5202 Views

Income Tax Department Releases Detailed Guidance on Taxation of Registered NPOs

28 August 2026 at 09:19

The Income Tax Department has explained the new taxation framework for Registered NPOs under the Income-tax Act, 2025, covering registration, income classification, compliance, commercial activities, donor approvals and penalties.

Posted in Income Tax | 1 comments | 2976 Views

Income Tax Relief on Arrears, Gratuity and Foreign Pension Under Sections 157 & 158

27 August 2026 at 09:20

Income Tax Sections 157 and 158 explained: Know the rules, eligibility, Form 39 and Form 40 requirements, and calculation of relief on arrears, gratuity, pension and foreign retirement accounts.

Posted in Income Tax | 1 comments | 8511 Views

No Deduction of TDS Under IT Act 2025: Form 121 Rules for Individuals and Senior Citizens

27 August 2026 at 09:10

Form 121 allows eligible taxpayers to claim no TDS on specified income under the Income-tax Act, 2025. Know eligibility, filing process, UIN and reporting rules.

Posted in Income Tax | 2 comments | 39309 Views