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Last Updated:September 28, 2026, 8:41 PM IST Transferring money to your spouse for household expenses is tax-free, but investment earnings trigger clubbing rules. Transferring money to your spouse is a common practice for household expenses, personal savings, or family investments. While giving a monetary gift to your wife is not directly taxable at the moment…
Last Updated:July 27, 2026, 1:39 PM IST Gifting money to your husband or wife isn’t taxable, but the income earned from those investments may still be taxed in your hands under the Income Tax Act There is one important distinction to understand. Gifting money to your spouse is not taxable. You won’t pay tax at…
Last Updated:July 15, 2026, 5:31 PM IST Individuals opting for the old regime can claim deductions for investments made in PPF, EPF and NPS under Section 80C. Income Tax Return Filing 2026. ITR Filing 2026: As the income tax return (ITR) filing season for the assessment year (AY) 2026-27 is going on, taxpayers are revisiting…
The new tax regime has made income tax filing easier, but there’s one complaint many salaried employees share, i.e., it offers very few deductions. If you’ve been wondering whether there’s still a legal way to reduce your tax liabilitythe answer could lie in your salary structure rather than a new investment. A growing number of…
The deadline to link PAN with the Aadhaar Card was December 31, 2025. If your PAN wasn’t linked by then, it is now considered inoperative. The taxpayers with inactive PANs are now facing real consequences. Filing Income Tax Returns Is Blocked An inoperative PAN doesn’t allow you to file Income Tax Returns (ITR) on the…
Last Updated:March 20, 2026, 5:01 PM IST The Income Tax Department has notified the new Income-tax Rules, 2026, marking a significant overhaul of the decades-old tax framework. Income Tax Rules 2026: Major changes that will impact your pocket The Income Tax Department has notified the new Income-tax Rules, 2026, marking a significant overhaul of the…
Last Updated:March 15, 2026, 12:29 IST March 15 is the deadline for the final advance tax installment for FY 2025–26. Salaried individuals with extra income may need to pay. Advance Tax payment due today March 15 is the last date for paying the final instalment of advance tax for the financial year 2025–26. Taxpayers who…
Income Tax Budget 2026 Live Updates: Union Finance Minister Nirmala Sitharaman announced that the New Income Tax Act will come into effect on April 1, with rules and tax returns forms to be notified shortly. Source link [ad_3]
Finance Minister Nirmala Sitharaman unveiled a clean‑up of India’s direct tax framework, announcing a new foreign asset disclosure scheme, a decriminalised prosecution regime and staggered filing timelines as part of the Union Budget 2026. The moves aim to ease compliance for small taxpayers and reduce friction in India’s decade‑old income tax architecture ahead of the…
New Delhi: In a major relief for taxpayers, the Income Tax Appellate Tribunal (ITAT), Mumbai has ruled in favour of a Pune-based individual after the tax department had added over Rs 7 crore to his income as unexplained cash credit. The tribunal held that loose sheets of paper, personal diaries and WhatsApp chats cannot be…