Latest Updates
Home Sale Of Rs 70 Lakh – Why Seller Pays Only Rs 33,000 Income Tax, ITAT Mumbai Explains
A Mumbai ITAT ruling shows how a seller of a Rs 70 lakh property paid just Rs 33,000 in tax by applying indexation from the agreement year rather than the possession year. This decision clarifies capital gains rules, saving the taxpayer nearly Rs 15 lakh. Learn how indexation, documentation, and reinvestment options can drastically reduce property tax burdens for homeowners, NRIs, and investors in India.
Why High Taxes And Poor Facilities Are Driving Wealthy Indians Abroad
High taxes and poor facilities are fueling a wave of millionaire migration from India, with over 2 lakh Indians renouncing citizenship in 2024. Frustrated by weak infrastructure, limited passport power, and lack of returns on taxes, wealthy Indians are heading to Dubai, Singapore, and Portugal. With $26.2 billion in wealth expected to leave in 2025, India faces a critical brain drain unless it reforms taxation, infrastructure, and business systems.
CM Stalin On Tax Distribution – Why States Must Revisit Union-State Relations
CM Stalin on tax distribution has reignited debates about India’s federalism. Tamil Nadu argues it contributes heavily to India’s tax revenue but receives disproportionately less in return. This article explores the historical background, data, global parallels, and possible reforms to strengthen fiscal fairness. With insights for policymakers, professionals, and citizens, it makes the case that rethinking Union-State financial relations is vital for building a strong, balanced, and united India.
Simple Tax Change Could Unlock ₹37,000 Crore Windfall For NRIs
India could unlock a ₹37,000 crore annual windfall by reverting the NRI residency threshold from 120 to 182 days. This change would let NRIs, especially retirees from the U.S., spend half the year in India without tax worries. Their spending on real estate, healthcare, and services could add 0.7% to GDP annually. This small policy tweak may turn India into a retirement-friendly hub for its global diaspora.
Government Notifies Income Tax Act 2025 Effective April 1
The Income Tax Act 2025, notified in August 2025, replaces the outdated 1961 law and takes effect from April 1, 2026. Aimed at simplifying tax slabs, boosting digital compliance, and reducing litigation, it impacts more than 60 million taxpayers. While the Finance Act 2025 is already in force, the new law gives professionals and businesses a year to adapt. India’s most ambitious tax reform sets the stage for smoother, smarter taxation.
Online Gaming Income FY25 – Tax Rate, TDS Rules And ITR Reporting Explained
Online gaming income in FY25 is taxed at a flat 30% under Section 115BBJ, with mandatory TDS deductions under Section 194BA. Winnings, no matter how small, must be reported under “Income from Other Sources” in your ITR. Losses cannot be adjusted or carried forward. This comprehensive guide explains tax rates, TDS rules, global comparisons, reporting steps, legal consequences, and tax planning strategies for casual and professional gamers.
I-T Department Cracks Down On Tax Evasion And CSR Donation Misuse
The Income Tax Department’s latest crackdown is rewriting compliance in India. From uncovering ₹800 crore CSR scams to busting ₹4,500 crore political donation frauds, the raids highlight how deep tax evasion runs. With AI-powered tools and stricter monitoring, the era of fake deductions is ending. For taxpayers and businesses, the message is clear—stay transparent, keep records clean, and use CSR for real impact—not for evasion.
India’s Oldest Citizens Now Contributing More To The Income Tax Kitty
India’s oldest citizens are contributing more than ever to the income tax kitty, paying ₹61,624 crore in FY 2023–24—a 28% increase year-on-year. This trend reflects longer lifespans, wealth from the liberalization era, and tighter compliance. Learn why seniors are key taxpayers today, the challenges they face, and practical tax-saving strategies. A complete guide with expert insights, global comparisons, and actionable tips for retirees and professionals alike.
Kerala Claims Corruption Almost Nil As Most Taxpayers Stay Honest
Kerala’s top tax official claims corruption is “almost nil,” with 85% of taxpayers honest. Strong digital systems, quick dispute resolution, and cultural values fueled ₹18,000 crore in GST collections in 2025, mostly from services. While governance scandals occasionally surface, Kerala’s approach offers a global lesson: simplify systems, reward honesty, and build trust. Businesses everywhere can benefit by making compliance easier and transparency the norm.
Income Tax Act 2025 Set To Replace 60-Year-Old Law From April
The Income Tax Act 2025 will replace India’s outdated 1961 tax law starting April 1, 2026. Aimed at simplifying compliance, clarifying rules on global income and digital assets, and reducing litigation, this landmark law impacts individuals, businesses, and investors alike. With a digital-first approach and globally aligned rules, the Act represents a new era of taxation for India’s economy. Here’s what’s changing and how to prepare.
