by Jagdeep Garhwal | Aug 29, 2026 | Income Tax
The Income Tax Department has rolled out both offline and online utilities for ITR-6 and ITR-7. These tools support Assessment Year (AY) 2026-27 filings. Companies and specific institutions can now begin preparing their returns. This update matters for thousands of...
by Jagdeep Garhwal | Aug 28, 2026 | Income Tax
The Punjab and Haryana High Court has refused to grant capital gains exemption to a taxpayer. The reason is simple. He purchased his new house solely in his wife’s name. This ruling carries weight for many families. Property purchases in a spouse’s name...
by Jagdeep Garhwal | Aug 27, 2026 | Income Tax
A Big Relief for the Middle Class Millions of Indian taxpayers now enjoy a welcome benefit. Under the new tax regime, income up to Rs. 12 lakh attracts zero tax. This change came through an enhanced rebate under Section 87A. Consequently, many salaried individuals and...
by Jagdeep Garhwal | Aug 21, 2026 | Income Tax
Many parents in India receive financial support from children living abroad. Naturally, this raises an important question. Is this money taxable, and what rules apply? Fortunately, the answer brings relief to most families. The Short Answer: No Tax on the Gift Itself...
by Jagdeep Garhwal | Aug 20, 2026 | Income Tax
The Income Tax Department has introduced a major change for non-profit organisations. From April 1, 2026, a new form called Form No. 112 will replace two older forms. These are Form No. 10B and Form No. 10BB. This update comes under the Income-tax Act, 2025....
by Jagdeep Garhwal | Aug 19, 2026 | Income Tax
Many Indians hold small foreign assets they never reported. A forgotten bank account, unused stock options, or a modest overseas investment can all count. Until now, missing these details carried serious risk. However, a new government scheme now offers a way out....
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