income taxpayers

IT Rajasthan launches awareness campaign to enrich stakeholders on New Income tax Act

Mumbai ITAT grants capital gains tax relief to a taxpayer who filed his Income Tax Return late. The tribunal ruled that reinvesting gains into a new property before a belated return fulfills Section 54 requirements, even without depositing funds in the Capital Gains Account Scheme.

…but the taxman does. Here’s how the income tax department is using data-driven nudges — not raids — to get taxpayers to come clean

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Probes PAN, Reporting Errors In Real Estate Deals

New UK government plans to extend permanent residency requirements could push away high-earning immigrants, analysis reveals. Those earning over £125,000 are already most likely to depart, with global opportunities and fewer financial ties elsewhere. The proposed changes, even with exceptions, risk deterring these skilled professionals, while lower-wage workers and those in sectors like nursing show strong commitment to staying.

A nuanced understanding of the various ITR forms for FY 2025–26 is essential for globally mobile professionals, domestic salaried taxpayers, and individual investors

Capital gains tax rules on Property changed from July 23, 2024. Long-term gains now face a 12.5% tax without indexation, a shift from the previous 20% with indexation. However, those who bought property before this date can choose the old or new system. Exemptions under Sections 54, 54F, and 54EC remain available.

Amazon founder Jeff Bezos dismissed fears of an AI bubble, stating that even if current valuations are unsustainable, the long-term benefits will outweigh the risks. He likened the AI boom to the 1990s biotech bubble, where initial losses led to significant advancements.

Former India captain MS Dhoni has been revealed as the highest individual taxpayer from Jharkhand and Bihar combined for the 2025-26 financial year. The Principal Chief Commissioner of Income Tax confirmed Dhoni's top position, though the exact tax amount remains undisclosed. This achievement highlights Dhoni's significant financial contribution to the region.

A change in how social security benefits are calculated by employers under the new labour codes could affect your in-hand salary.