ADJUST TDS AND TCS AGAINST TDS FROM SALARY
NRI wins capital gains tax case in Delhi High Court regarding sale of Rs 2 crore property despite Rs 46 lakh tax demand notice
An NRI faced tax issues after a property sale in Pune for Rs 2 crore. The buyer used the wrong TDS form (26QB), causing problems. The Income Tax Department issued a tax demand notice of Rs 46 lakh. The Delhi High Court intervened, directing the department to correct the TDS records. The court ordered a tax refund computation for the NRI. Read below to know more.
Explained: CBDT targets unaccounted income invested in crypto
The aim is to curb tax evasion and the laundering of unaccounted funds. The CBDT has identified some "high-risk persons" who are investing in virtual digital assets but have not complied with the Income Tax Act.
Lateral hiring: TCS to hold interviews in Mumbai, Bengaluru, other cities on Saturday
The Tata subsidiary is looking for people with 5-15 years of experience. This follows a lull in overall hiring in FY25 due to continued macro uncertainties, such as the tariff wars initiated by the US government.
Unaccounted income invested in virtual digital assets on CBDT radar
Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said.
Unaccounted income invested in Virtual Digital Assets on CBDT radar
The CBDT is actively investigating tax evasion and money laundering related to cryptocurrency investments by high-risk individuals. Many individuals have been identified for not complying with the Income-tax Act, 1961, specifically regarding Virtual Digital Asset (VDA) transactions.
Crypto income on I-T radar; department sends emails to individuals
The Income Tax Department is contacting people about crypto taxes. Many individuals did crypto transactions but did not report the income. The department suspects tax evasion and money laundering. They are using data to guide taxpayers. People who mis-declared crypto income should file updated returns. The department is verifying returns with crypto exchange data.
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8th Pay Commission salary hike may miss January 2026 deadline: Will it impact calculation of fitment factor?
The implementation of the 8th Pay Commission is not only being eagerly awaited by salaried employees. Nearly 67 lakh government pensioners are also impacted by any revision in the pay scale.
Army, Navy & Air Force pensioners: SPARSH pension portal has an update on your Form 26AS
Defence pensioners receiving pensions via SPARSH can now access their income and TDS details for FY 2024-25 on the TRACES portal, reflected in Form 26AS. Form 16 will soon be available on the SPARSH portal.
External Affairs Minister S Jaishankar meets French President Emmanuel Macron
External Affairs Minister S Jaishankar met French President Emmanuel Macron in Paris. He conveyed greetings from PM Narendra Modi. Jaishankar thanked France for its strong support in combating terrorism. Discussions reflected the trust and ambition of the India-France strategic partnership. Earlier, Jaishankar was in Brussels, meeting EU leaders to strengthen the EU-India partnership.
US on-site openings shrink for techies as IT hits pause button
Top companies such as Tata Consultancy Services (TCS), Infosys and Wipro have cleared hundreds of their workers to take up foreign assignments as far back as 24 months but are going slow on letting them apply for the visa stamping process and plan their travel.
Waymo leads autonomous taxi race in the US
Waymo's autonomous vehicles have become part of the everyday landscape in a growing number of US cities, serving as safe transport options, tourist attractions, and symbols of a not-so-distant future. But for tourists and business travelers, their first Waymo ride often becomes the most memorable part of a trip to the Golden Gate city.
Rs 50 LPA feels like Rs 25 LPA in Bengaluru: Are techies lying about salaries? Netizens unveil the truth behind fat paychecks
A viral social media post questioning whether Rs 50 lakh per annum (LPA) has become the new Rs 25 LPA in Bengaluru sparked widespread debate among tech professionals, highlighting concerns over rising living costs, inflated compensation structures, and shifting salary benchmarks. While some argued that Rs 50 LPA is no longer impressive in the city’s high-cost ecosystem, others pointed out that such packages often include stock-based components and are typically reserved for top-tier or highly skilled professionals.
Waiting for pending old ITR? You may soon get ITR refund or income tax demand notice as CBDT extends the deadline till November 30, 2025
Income tax: The Income Tax Department will process pending ITRs for AY 2023-24 (FY 2022-23) by November 30, 2025, potentially leading to tax refunds, demand notices, or no change. This applies to ITRs filed by July 31, 2023, or belatedly by December 31, 2023, excluding those under scrutiny or delayed due to taxpayer issues.
New ITR Utility: Is landlord’s PAN card needed for claiming HRA while filing income tax return?
Rent HRA: The income tax department has released new excel and online utilities for ITR-1 and ITR-4. However, in the new excel utilities taxpayers who want to claim rent HRA tax exemption need to give some additional details like place of work, saalry, etc. Question is do you need to give PAN of the landlord? Answer is yes, but when? Read to know more.
How to save tax on your Bitcoin investments in India, legally!
Indian Bitcoin investors face a steep 30% tax and 1% TDS, hindering profitability. Bitcoin ETFs offer a tax-efficient alternative, taxed as long-term capital gains at 12.5% if held over 24 months, with no TDS. Unlike direct crypto investments, ETF losses can be offset, providing significant tax savings.
EPF 3.0: Withdraw PF by swiping from ATMs
Swift and hassle-free withdrawal of provident fund money could be revolutionary. Paradoxically, the current time-consuming and tedious process of submitting claims to take out money, and getting approvals, inherently acts as a disincentive or a deterrent for EPF members from making frequent and early withdrawals.
3 reasons why Warren Buffett doesn’t buy REITs, but here’s why that shouldn’t stop you
Warren Buffett's Berkshire Hathaway largely avoids REITs due to their tax structure and the company's investment philosophy, which prioritizes high unleveraged returns. However, Indian REITs offer individual investors tax-efficient income and liquidity, making them a potentially smart portfolio addition. SEBI regulations and transparency further enhance their appeal as an alternative to traditional real estate.
Form 16 changes: Higher standard deduction for these taxpayers, and other changes in Form 16 for FY 2024-25 (AY 2025-26)
Form 16 TDS Certificates ITR filing: Due to the income tax changes made in the FY 2024-25 (AY 2025-26), Form 16 will show certain changes this year. It will primarily show the following three changes for certain taxpayers. Read on to know more about the changes and how they will impact ITR filing for salaried employees.
Got an income tax notice? Here are common types of tax notices and what to do to avoid penalties
Income tax notices can be daunting, but understanding them is crucial. The Income Tax Department issues various notices for reasons like mismatches, pending dues, or inquiries. Prompt action, accurate information, and expert help when needed are essential to avoid penalties and ensure compliance. Addressing these notices can effectively safeguard you against further complications with the Income tax department
Filing ITR for FY2024-25? Mistakes in HRA claims, capital gains tax calculation are among 7 errors to avoid
Taxpayers stand to benefit from a 45-day extension for filing returns due to significant ITR form changes in Budget 2024. However, errors can crop up despite online filing improvements, ranging from incorrect forms to misreporting income. Avoiding these mistakes, like neglecting AIS/Form 26AS reconciliation or HRA claim errors, is crucial to prevent penalties and ensure accurate tax computation.
ITR filing 2025: Excel utilities for ITR 1 and 4 for FY 2024-25 (AY 2025-26) released by Income Tax dept; Check who can file
The Income Tax Department has released the Excel utility versions of ITR Forms 1 and 4 for AY 2025-26, enabling taxpayers to prepare for FY 2024-25 filings. A key change in ITR-1 now invalidates filings for certain TDS sections, directing taxpayers with income from sources like online games or crypto to use other appropriate forms.
EPFO 3.0 roll out, free Aadhaar update, Form 16 for ITR filing: 7 money changes in June 2025; check details here
June 2025 brings significant financial changes, including the EPFO 3.0 launch for simplified PF withdrawals and revised credit card policies from HDFC, Axis, and Kotak Mahindra Bank. Taxpayers should note the TDS certificate deadline, while individuals have until June 14 to update Aadhaar details for free.
When will salaried employees get Form 16 to file income tax return for FY 2024-25 (AY 2025-26)?
Last date to get Form 16: Form 16 is a TDS Certificate, which is received by the employee from the employer. This TDS certificate makes the process of ITR filing easier for the salaried taxpayers. The deadline to file income tax return for the FY 2024-25 has been extended by the Income Tax Department to September 15, 2025. When will a salaried employee receive their Form 16 from the employer?
33% more money on tax refund interest this year for income taxpayers due to ITR filing deadline extension
Taxpayers filing income tax returns (ITR) for FY 2024-25 (AY 2025-26) on September 15, 2025 can receive 33.33% more interest on their tax refunds due to the ITR filing deadline extension to September 15, 2025. While the Income Tax Department pays 0.5% monthly interest on refunds, this interest is taxable under 'Income from Other Sources,' Read below to know how this works.
ITR filing last date extended from July 31, 2025, for FY 2024-25 (AY 2025-26): Check the new date here
ITR filing 2025 deadline extended: The CBDT has extended the due date to file income tax return from July 31, 2025, to September 15, 2025, for FY 2024-25 (AY 2025-26). Read to know who will benefit from the new deadline and why the Income Tax Department extended the due date.
Taxpayers should avoid filing ITR before June 15: Here's why
ITR filing 2025: The tax department has recently notified the ITR forms for filing tax return for FY 2024-25 (AY 2025-26). However, certain reasons ask taxpayers to file their income tax return after June 15. Check the reasons and what can happen if you file ITR before June 15. The last date to file ITR for certain taxpayers is July 31, 2025, for FY 2024-25 (AY 2025-26).
FD rate up to 9.1% for senior citizens investing for 5 years; Know the list of banks
Certain banks are providing high fixed deposit interest rates for senior citizens. Suryoday Small Finance Bank offers 9.1% interest. Unity Small Finance Bank provides 8.65%. NorthEast Small Finance Bank gives 8.5%. Utkarsh Small Finance Bank offers 8.25%. Jana Small Finance Bank provides 8.2%. Read below to know how senior citizens can prevent TDS deduction on FD interest.
ITR for UAE NRIs: Submit returns by July 31 to avoid penalties
Indian expatriates in the UAE must file their Income Tax Returns (ITR) for the financial year 2024-25 by July 31, 2025. Recent changes include increased capital gains tax rates, affecting investors in listed shares and securities. Filing is crucial for claiming refunds, avoiding penalties, and carrying forward losses.
I am an NRI and I have inherited property in India. Can I sell it from abroad and what will be the tax implications?
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