Individuals earning income abroad must understand their tax residency status according to the Income Tax Act. The Act outlines conditions based on the duration of stay in India for tax purposes. Tax residency rules will apply to financial years beginning from April 1, 2026. Any individual’s residential status requires separate analysis for financial years crossing different tax regimes.

Now GST input tax credit to emoyers on group insurance; this can mean more life and health insurance coverage for employees; Know how it helps. The reason for this is now employer's cost of buying insurance for its employees can reduce by claiming ITC.

Contemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implications, including taxation aspects and the treatment of different package components. Be clear on the eligibility for tax breaks and ensure that your financial security after retirement is adequately planned.

On October 8, 2026, the Central Board of Direct Taxes introduced a revised Form 161 for taxpayers. This new form allows eligible individuals to apply for a waiver of penalty related to misreported income. Taxpayers must meet specific statutory conditions when applying for this relief through the amended form. The application process requires timely tax payments and cannot involve pending appeals.

The latest changes proposed by the GST Council will help cut costs and ease cash flow for companies. To curb cascading tax, ease working capital pressures and reduce disputes, the Council has reduced ITC restrictions on expenses such as health and life insurance and out door catering. It has also allowed refunds of accumulated ITC on input services in specified inverted duty cases for eligible credits from 1 November 2026.

For giving up 2,839 sq. metres of land, BBMP gives landowner TDRs which landowner sells to builder for Rs 6 crore; Income Tax Dept sends notice; ITAT Bangalore rules TDR sale attracts capital gains tax

For Indians earning income from overseas, securing a tax residency certificate is essential to avail benefits under the Double Taxation Avoidance Agreement (DTAA). To acquire this certificate, taxpayers must complete Form 42 online via the income tax e-filing portal. This form necessitates accurate details and supporting documents to confirm residency status.

Senior citizen sent income tax notice for Rs 65.27 lakh unexplained cash deposit, which was later proved to be pension and FD money; ITAT Jaipur order explained.

How much pure silver and gold jewellery can you have in your home without getting into trouble with the Income Tax authorities? To know the answer you need to read CBDT Instruction No. 1916.