The Supreme Court will hear a petition this week challenging a tax exemption that permits political parties to receive anonymous cash donations below ₹2,000, potentially reshaping the landscape of political transparency in India. The Supreme Court is due to hear…
India’s retirement fund body is upgrading its platform to enable faster, digital access to provident fund savings through UPI and ATMs, with increased withdrawal limits and simplified claims processing slated for rollout by June 2026. India’s retirement fund body is…
Indian tax law allows siblings to transfer property as gifts without immediate tax liability, but future capital gains tax remains a consideration if the asset is sold later. Proper documentation and registration are crucial for legal and tax compliance. A…
State Bank of India and Punjab National Bank compete with largely similar tax-saving fixed deposit schemes, but differing entry points, interest rates, and payout options influence investor choices amid marginal rate variations over longer tenures. Tax-saving fixed deposits remain a…
The GST Council is set to meet in New Delhi on September 12, aiming to implement reforms that simplify the indirect tax system, including protections for input tax credit and streamlined registration processes for businesses. The GST Council is set…
Equity-linked savings schemes (ELSS) offer Indian taxpayers a unique blend of market exposure and quick lock-in periods, making them a compelling choice for tax relief under Section 80C with potential for higher returns. Among mutual fund options available to Indian…
The Kurnool District Consumer Disputes Redressal Commission has directed HDFC ERGO to settle a ₹1 crore accidental death claim after ruling that the insurer failed to establish deliberate income concealment in a case where the policyholder died in a road…
Delay in income tax refunds can be caused by administrative errors, verification issues, or mismatched records. Learn how to check your return status and ensure smooth processing. If your income tax refund has not reached your bank account after filing…
A busy September 2026 presents a complex array of statutory obligations for one-person companies, highlighting the need for careful planning and adherence to avoid penalties. September 2026 brings a crowded run of statutory deadlines for one-person companies, with obligations spanning…
With over 7 crore income tax returns filed ahead of the August 31 deadline, Indian taxpayers, especially crypto traders, must navigate stricter reporting requirements and increased scrutiny for assessment year 2026-27. India’s tax department said more than 7 crore income…
Taxpayers in India with non-audit income have until December 31, 2026, to file belated returns, while those with audited accounts face later deadlines, amidst guidance on how to navigate the extended timelines. India’s August 31 income tax return deadline mainly…
India’s tax authorities are expanding their scrutiny of large foreign transfers, focusing on transactions that lack commercial credibility and proper documentation, amid a nationwide verification exercise targeting hundreds of entities. Tax officials are widening their scrutiny of cross-border payments after…
