INCOME TAX PAYERS
Alimony: Retired husband to pay 60% of his pension income as maintenance to divorced wife, orders High Court
A retired UCO Bank employee faced a legal battle when his ex-wife demanded continued maintenance payments, including a 5% increase every two years. Despite his reduced pension, the High Court ordered him to pay Rs 25,000 monthly, citing the wife's right to maintain a similar lifestyle and considering his potential earnings beyond his declared income. Read to know why this husband lost the case.
Make GST payments only by e-rupee, tokenisation can achieve total transparency
To enhance the Goods and Services Tax (GST) system, the GST Council should mandate e-rupee use for payments to curb input tax credit fraud via blockchain technology. Luxury goods need precise classification, avoiding confusion with premium items, while 'sin' goods require clear definitions to prevent smuggling.
Husband has to pay income tax for wife’s Rs 17-crore land sale deal due to this reason; ITAT Bangalore ruling explained
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bangalore held that a wife is exempt from income tax on the ₹17.26 crore sale of land gifted by her husband. The ITAT cited Section 64(1)(iv) of the Income Tax Act, stating that income from assets gifted between spouses is taxable in the hands of the transferor, not the recipient.
Select black money holders to get relief: Income tax dept. to not not apply penalty and prosecution in these situations
The Income Tax Department offers relief regarding unintentional black money. Individuals failing to disclose foreign assets up to Rs 20 lakh may avoid penalties and prosecution. This applies to assets excluding immovable property. The Central Board of Direct Taxes amended its instructions. The new rule aims to provide relief for unintentional omissions. It focuses enforcement on significant cases of non-disclosure.
Has the promised zero penalty privilege for small taxpayers been taken away in the New Tax Act 2025? Here’s what experts say
The Lok Sabha approved the Income Tax Act 2025. It clarifies rules for late ITR filing and tax refunds. A select committee suggested changes to Section 263. The bill removes sub-clause (1)(ix). Taxpayers can now claim refunds even with delayed returns. This resolves confusion for those filing after the deadline. The new rules aim to provide flexibility for refund claims.
After STCG ruling, now LTCG also allowed to get Section 87A tax rebate, rules ITAT Chennai
On August 20, 2025, Chennai ITAT allowed Section 87A tax rebate on long term capital gains (LTCG). This decision favors taxpayers with incomes under Rs 7 lakh. The ruling references a Bombay High Court decision. Venkatraman, a taxpayer, initially faced denial of the rebate. ITAT Ahmedabad also allowed the rebate on STCG income on August 12, 2025.
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Wife gets tax notice for husband’s Rs 6.75 crore Mumbai house purchase; Bombay High Court gives relief to wife
The Bombay High Court gave relief to a wife from a tax notice related to a Rs 6.75-crore property, as her husband solely funded the purchase, adding her name for convenience. The court emphasised that tax authorities must verify the actual source of funds, protecting nominal joint owners from unwarranted scrutiny. Read more.
ITR filing deadline needs to be extended due to discrepancies in Form 26AS, AIS, system error while ITR uploading, and other issues, says GCCI
The Gujarat Chamber of Commerce & Industry (GCCI) has requested an extension to the income tax return (ITR) filing deadline, citing delays in the release of ITR utilities and persistent technical issues on the Income Tax portal. GCCI also highlights discrepancies in financial statements and seeks an extension for the income tax audit deadline, currently set for September 30, 2025.
Ladli Behna Yojana instalment amount increased to Rs 1,500: How to check Ladli Behna Yojana instalment status
Madhya Pradesh Chief Minister Mohan Yadav announced an increase to the Ladli Behna Yojana. The monthly assistance will rise to Rs 1,500, starting from Bhai Dooj. The scheme aims for women's economic self-reliance and improved health. CM Yadav transferred Rs 1,500 to over 1.26 crore sisters on August 7, 2025. Beneficiaries can check their payment status online.
PM Kisan 20th instalment date today: Check different modes of eKYC to to receive funds
Good news for PM Kisan beneficiaries! The 20th installment of the PM-Kisan scheme, amounting to Rs 20,500 crore, will be released today. Prime Minister Narendra Modi will disburse the funds to 9.7 crore farmers during his visit to Varanasi. Eligible farmers must complete their eKYC to receive the benefit.
$1,390 stimulus checks from IRS coming soon: Are you on the list? Check key date, eligibility and more
Millions of Americans may receive a $1,390 stimulus payout next summer as part of a federal relief plan for low to middle-income households. Eligibility hinges on income and tax status, with payments distributed via direct deposit, paper check, or EIP debit card. Recipients should be aware of potential scams and rely only on official IRS sources for information.
Angel investors in India will become rarer than tigers
Angel investing in India, despite recently reaching $1 billion, faces potential setbacks due to increased regulatory scrutiny. While the "angel tax" was scrapped, SEBI's new accreditation requirements for collective investment plans are causing concern. This may deter investors, hindering the growth of promising startups and limiting access to early-stage funding, despite SEBI's intentions to ease business operations.
Atal Pension Yojana enrolments cross 8 crore mark; adds 39 lakh new subscribers so far in FY26
Atal Pension Yojana, a social security scheme administered by PFRDA, has surpassed 8 crore enrolments, with 39 lakh new subscribers in FY 2025-26. Launched in 2015, APY aims to provide a guaranteed monthly pension of Rs 1,000 to Rs 5,000 to subscribers post-60 years, benefiting the poor and unorganised sector workers.
New Income Tax bill improves ease of doing business, to give investors confidence: LS Select Committee member Milind Deora
Milind Deora highlights the new Income Tax Bill's potential to improve ease of doing business, reduce litigation, and boost investor confidence in 'Make in India'. He emphasizes its modern approach compared to the outdated 1961 bill. The Manipur GST Amendment Bill 2025 aims to integrate all states into a unified common market, attracting investors to regions like Manipur and Kashmir.
Bizarre I-T law to penalise taxpayer to change soon: Income Tax Bill 2025 may give relief to specified small taxpayers filing ITR only to claim tax refunds
The Income Tax Bill 2025 may soon offer relief to small taxpayers seeking refunds. A Lok Sabha select committee suggests removing penalties for late ITR filing when the sole purpose is claiming a refund, especially for those with income below the taxable threshold. This change aims to prevent unwarranted prosecution for minor tax matters.
$1,390 Stimulus check in 2025: Do Americans need to pay tax on the amount and who needs to apply
IRS stimulus checks in 2025: The US government has announced an important relief plan and under this scheme, eligible citizens will be provided a one-time stimulus check of $1,390. A $1,390 stimulus check is coming in 2025 to help with rising living costs. Most people will get it automatically, including those on Social Security, SSDI, SSI, and VA benefits.
Karnataka govt identifies 11.8 lakh potentially fraudulent social security pension beneficiaries
The Karnataka government has uncovered over 11.8 lakh potentially fraudulent social security pension beneficiaries, including income tax payers and government employees. A campaign has been launched to update outdated land records, with over 52.55 lakh land holdings still registered under deceased farmers' names. The Bhu Suraksha project aims to digitize land records, enhancing accessibility and preventing tampering.
How Rs 10 – 20 payments sparked a Rs 29 lakh GST storm: Cash vs UPI, BJP vs Cong and taxpayers vs non-payers in Karnataka
GST notice to vegetable vendor: A Karnataka vegetable vendor's ₹29 lakh GST notice over UPI transactions has sparked widespread protests among small traders. They argue the tax demands are unaffordable, prompting the Karnataka Pradesh Street Vendors Association to seek government intervention.
PAN-Aadhaar linking update: Relief from tax demand notice due to short TDS deduction for these taxpayers
The Income Tax Department is offering relief to taxpayers who received demand notices for short deduction or collection of TDS/TCS due to transactions with in-operative PAN holders. Taxpayers can avoid penalties if the PAN is linked with Aadhaar by a specified deadline. This also applies to property buyers who deducted TDS at a lower rate than required. Read below to know more.
Switching from UPI to cash won't help in avoiding tax notice if turnover crosses GST registration threshold; Here’s what Karnataka State GST department said
Karnataka tax department clarifies GST rules for vendors: The GST department is scrutinizing UPI transactions to identify unregistered traders exceeding the GST threshold, leading some to revert to cash payments. The department clarified that GST applies to all forms of payment, not just UPI, and warned of actions to collect applicable taxes. Traders receiving notices are advised to provide explanations and relevant documents for verification.
ITR filing for salaried employees is easier with these sources of income: Here's how
By now, most salaried individuals would have received their Form 16-a crucial document that summarizes salary earned, deductions claimed, and TDS deducted during the financial year. For salaried taxpayers, this remains the most essential document for accurate filing of their ITRs.
Atal Pension Yojana scheme to close for income tax payers from October 1
The government's Atal Pension Yojana (APY) social security scheme will no longer accept enrollments from income tax payers as of October 1. The objective is to better target pension benefits to underserved demographic groups, according to the finance ministry.
Income tax payers barred from enrolling in Atal Pension Yojana from October 1
An amendment has been made under the Atal Pension Yojana scheme which was originally notified on October 16, 2015. "Provided that from 1st October 2022, any citizen who is or has been an income-tax payer, shall not be eligible to join Atal Pension Yojana," the gazette notification said.
Tax Ombudsman needed to protect tax-payer’s rights: Eco Survey
To avoid the conflict of interest, ensure fair dealings and consequently build the trust between taxpayers and the concerned tax authority, it is imperative that the redressal organisation has adequate teeth and is independent of the tax department.
Now, GSTR alerts 3 days before deadline
If the returns are not filed within 30 days of receipt of assessment order, officers can initiate proceedings, undertake recovery, proceed with provisional attachment to protect revenue and even cancel of registration in cases where return has not been submitted within six months.
Why income tax payers in India are a small and shrinking breed
Out of 125 crore Indians only 1.5% (1.9 crore) pay income tax.
You can choose if equity holding is income or capital gain
CBDT has allowed the tax-payer to make this choice. The decision will bring down the large number of litigations, said experts.
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