itr

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

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

Small businesses and professionals under the presumptive tax scheme must now disclose investment details in their income tax returns. This new rule, introduced in itr-4, aims to curb tax evasion by allowing authorities to compare declared income with investment patterns. Misreporting income can lead to hefty penalties, making compliance crucial.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

India's INS Dhruv plays a crucial role in tracking long-range missile tests over the Bay of Bengal and Indian Ocean. This advanced vessel gathers vital telemetry data, aids in anti-ballistic missile system development, and provides early warning against hypersonic threats. Its capabilities also extend to monitoring Low Earth Orbit satellites, offering a significant strategic advantage to the nation's armed forces.

The Delhi High Court examined the impugned order and the reasons furnished by the petitioner and found no merit in the challenge. The Court specifically rejected the submissions that the petitioner’s lack of awareness of tax laws or his alleged illiteracy could justify the delay. It held that such a plea was not tenable in law.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offer well-considered, practical, and actionable opinion on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust

Women are actively investing in India, moving beyond traditional savings. While participation in mutual funds and equities is rising, independent control over financial decisions, particularly tax planning, is still developing. Younger women show greater comfort with digital platforms and goal-based investing. This shift signifies a growing financial awareness and engagement across the nation.

Every week TOI+ subscribers send in legal questions and our panel of leading experts offers well-considered, practical, and actionable opinions on every query. From property disputes to inheritance matters, divorce queries to income tax issues, My Lawyer connects you directly with experts you can trust