Income-tax News
Don’t pay tax on gifts if they are from family. Here’s the rule
Gifts from relatives are exempt from tax, while gifts over ₹50000 from non-relatives are taxable. Gifts received during marriage are fully tax-exempt.
4 min read8 Dec 2025Income Tax: How to report foreign income and assets in your ITR?
CBDT sent messages and emails starting 28 November to taxpayers, urging them to revise their income tax returns (ITRs) before the 31 December deadline by disclosing their foreign income and assets
1 min read3 Dec 2025Income Tax: Last date to file revised or belated ITR is 31 December — key questions answered
Income Tax: There are certain scenarios in which you can file a revised return, but these do not include the filing of a return after an inquiry notice by the assessing officer under section 142(1).
2 min read2 Dec 2025Marriage and divorce tax rules: Gifts, clubbing, and alimony explained
Indian tax laws treat marriage and divorce as significant events affecting tax liability. Gifts received during marriage are exempt up to Rs. 50,000. Alimony taxation varies, with lump sum payments considered capital receipts while periodic payments are taxable.
4 min read2 Dec 2025Income Tax: What is condonation of delay for filing of ITR?
In case of a genuine hardship, the taxpayer can file a condonation request under section 119(2)(b). If condonation request is accepted, there is no need to pay any interest or penalty for delayed filing of ITR
2 min read1 Dec 2025Income Tax: Don’t fret over refund delay, you may be compensated for it
Taxpayers are issued a refund, along with interest at the rate of 6% per annum, which will start on 1 April 2026 and continue until the date of issue.
2 min read27 Nov 2025Sharp rise in taxpayers, but millions skip filing returns: CBDT data
The income tax base is growing faster than the number of those conscientiously filing returns, driven by the expanding reach of the TDS system.
5 min read27 Nov 2025ITR Refund Delay FY24-25: CBDT Chairman reveals reasons; here's when you will get it and steps to check status
ITR Refund delay: The ITR filing deadline for this year was September 16 and taxpayers have been expecting their tax refunds for a while now. Ravi Agrawal said that taxpayers can expect their ITR refunds to be credited to their accounts soon.
2 min read25 Nov 2025Infosys share buyback: Income tax rule change you must know before tendering stocks
Infosys buyback offer ends on 26 November 2025, i.e. Wednesday this week. The Infosys buyback price has been fixed at ₹1,800 apiece, which is around 15% higher than the current share price of ₹1,575.
3 min read24 Nov 2025How much capital gains tax applies when you sell mutual funds across categories? Explained
How much capital gains tax is levied on the sale of mutual funds depends on two factors – holding period and category of mutual fund. We deconstruct the nuances here
2 min read22 Nov 2025Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
IndiGo Crisis
IndiGo crisis: Get all the latest news and headlines on the ongoing crisis in IndiGo airlines, IndiGo share and IndiGo stocks on Livemint
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