CAPITAL GAINS TAX EXEMPTION
DPIIT nod to 187 startups for income tax exemption under revamped Section 80-IAC: Govt
The Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemptions under Section 80-IAC of the Income Tax Act. The tax benefit offers a 100% deduction on profits for three consecutive years within a ten-year period, supporting innovation and job creation.
NRI Talk: From Art to Angel Deals: NRIs are broadening their investment canvas, Sachin Sawrikar decodes
NRIs are increasingly diversifying their investments beyond traditional real estate and fixed deposits, exploring opportunities in mutual funds, GIFT City, and tech startups. Factors like resilient economic fundamentals, tax benefits in certain jurisdictions, and emotional ties to India drive this shift.
Income tax on gifted property: NRI step-brother to pay zero income tax on Rs 7.5 crore property
The ITAT Mumbai ruled that a gift from a stepsister to her stepbrother is exempt from income tax, overturning the tax department's addition of Rs 7.88 crore (Rs 7.5 crore property+38 lakh stamp duty) to the stepbrother's ITR. The tribunal considered stepsiblings as relatives based on affinity and common sense. This decision provides clarity on tax implications for gifts within step-families. Read below to know more.
Husband wife duo wins Rs 1.3 crore long term capital gains tax exemption case under Section 54 despite selling two houses to buy a joint property; ITAT Mumbai case
The ITAT Mumbai ruled that a wife is eligible for a Rs 1.3 crore Section 54 LTCG tax exemption on a property sale, even though the new property was jointly purchased with her husband. This decision came after the tax department initially rejected her claim. However ITAT Mumbai said this is subject to the condition that the AO verifies her claim and makes sure there is no double claim.
9 changes in ITR-1, ITR-2, ITR-3, ITR-4 you need to know for FY 2024-25 (AY 2025-26) income tax return filing
Income tax return forms 2025-26: The income tax department has notified the ITR forms for the FY 2024-25 (AY 2025-26). The utilities to file the tax return are yet to be released. However, this year, ITR forms come with the changes that were announced in the Budget 2024. Know the nine changes in ITR forms 2025-26 to ease the filing.
NRI Talk: Why NRIs in Dubai and Singapore pay zero tax on mutual fund gains, Nitin Aggarwal explains
India is one of the most preferred markets for the long-term investments for NRIs. Several clients have increased exposure to India in recent years as there is no country other than India with strong and stable economic growth prospects.
No new tax-free bonds issued since 2016. Here’s how to tap existing ones for tax-free income
Tax-free bonds, last issued in 2016 by PSUs, remain attractive due to their post-tax returns exceeding those of fixed deposits. Investors can access these AAA-rated bonds through wealth managers, stock market platforms, or online bond platforms. With interest rates ranging from 5.5% to 6% tax-free, these bonds offer liquidity and potential capital gains in a declining interest rate environment.
CBDT calls for more disclosure on foreign donations
The Central Board of Direct Taxes has revised the Income-tax Return Form ITR-7. This change impacts political parties and charitable organizations. They must disclose more details on foreign contributions and donations. The updated form includes compliance checks for violations. These revisions aim to improve transparency and accountability.
CBI files FIR against IRS officer Jeevan Lal Lavidiya in major bribery case
The CBI has filed an FIR against IRS officer Jeevan Lal Lavidiya, Commissioner of Income Tax (Exemptions) in Hyderabad, for allegedly accepting bribes in exchange for favourable tax decisions. He is accused of receiving a ?2.5 crore flat and cash through middlemen and hawala, including an ongoing deal with Shapoorji Pallonji involving ?1.2 crore.
Andhra Deputy CM announces property tax exemption for defence personnel in villages
Andhra Pradesh Deputy Chief Minister Pawan Kalyan declared a property tax exemption for homes owned by Indian Defence personnel within gram panchayat limits. This exemption, previously limited, now extends to all active personnel, regardless of deployment location. This decision reflects Andhra's deep respect and gratitude for the nation's uniformed defenders, honouring their invaluable service to the nation.
Updated LTCG and STCG capital gains tax table by income tax department: Check the tax rates for equities, foreign currency bonds and more
The Income Tax Department has updated capital gains tax rates, differentiating between long-term (LTCG) and short-term (STCG) gains across asset classes. Effective July 23, 2024, LTCG on certain securities will be taxed at 12.5%, and STCG at 20%. Taxpayers should note that standard deductions under sections like 80C and 80D are not applicable against capital gains.
Should home loan be the only factor to see while choosing between old and new income tax regime?
Budget 2025 brought significant changes to India's income tax structure. Under the new tax regime, the basic exemption limit was hiked to Rs 12.75 lakh for salaried individuals. This could potentially make traditional tax planning less relevant for many, since several deductions are no longer available. For those looking to opt for a home loan interest deduction, the old regime may still be better, but only if other deductions are also high.
Navigating market volatility and tax efficiency: Understanding income plus arbitrage funds of funds
In a nation where fixed deposits have long been the cornerstone of conservative investing, India's debt market is evolving, offering sophisticated avenues for investors seeking stability without sacrificing tax efficiency.
Mother’s Day advice on financial planning for mothers
Financial planning is one of the most valuable gifts a mother can give her children. From mutual funds to insurance and gold ETFs, this guide outlines smart saving strategies, retirement planning, and the importance of instilling financial discipline in kids.
NRI Talk: Tax-free gains? How NRIs in UAE, Singapore & Mauritius legally avoid MF taxes
NRIs are increasingly aligning investments with India’s growth, drawn by economic resilience, reforms, and emotional ties. Tax-friendly hubs like Dubai and Singapore amplify returns, while new tools like GIFT City and fractional real estate expand options.
Got LTCG up to Rs 1.25 lakh? How ITR filing will be easier for you for FY 2024-25
Taxpayers filing ITR for FY 2024-25 by July 31, 2025, benefit from the updated ITR-1 form, which now includes reporting of long-term capital gains from equities up to Rs 1.25 lakh. This simplifies filing for those under the new tax regime. The form also introduces detailed deduction reporting, enhancing accuracy and potentially preventing future disputes with the tax department. Read below to know more.
ITR-2 for FY2024-2025 notified by Income Tax dept: There’s good news for Rs 50 lakh to Rs 1 crore income-earners, know other changes and more
The CBDT has notified the ITR-2 form for FY2024-25, effective from April 1, 2025, which will be applicable to the majority of taxpayers, especially salaried individuals, pensioners, and those with income from multiple properties or capital gains. Key changes include raising the asset and liability reporting limit to Rs 1 crore, requiring TDS section reporting, and splitting capital gains. Read on to know more about the changes made.
Investment banker shares how the rich are using farmhouses to build tax-free wealth as the middle class chases affordable 2 BHKs
Wealthy Indians are increasingly investing in farmhouses, drawn by lifestyle benefits and significant tax advantages. Tax-free agricultural income allows for easier management of undisclosed funds, while low stamp duty and capital gains exemptions further enhance the financial appeal. These properties also offer income-generating opportunities through private events and rentals, making them a lucrative investment.
CBDT notifies new ITR form 5 for 2025-26 with key updates
One of the most notable revisions in ITR Form 5 is the introduction of a split within the Schedule-Capital Gain.
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