Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims....
Income Tax : HRA exemption and home loan deductions operate under separate sections of the Income Tax Act. Taxpayers may claim both under the o...
Income Tax : The article explains that HRA exemption is unavailable under the new tax regime, which is why the HRA field may not appear in the ...
Income Tax : Explore the current status of Bengaluru's inclusion for HRA exemption under income tax laws and government policy on metropolitan ...
Income Tax : Ministry of Finance addresses misconceptions regarding CBDT's supposed special drive to reopen cases related to HRA claims, clarif...
Finance : A government employee is not entitled to get House Rent Allowance(HRA) if he or she is residing with the spouse who has been all...
Income Tax : The Tribunal upheld the disallowance of HRA exemption under Section 10(13A) as the assessee failed to submit any supporting docume...
Income Tax : ITAT restores Sunil Shigli’s appeal after CIT(A) summarily dismissed it over a supposed 4-day delay. Tribunal di...
Income Tax : The ITAT Ahmedabad has allowed an assessee's appeal, condoning a 30-month delay and ruling against the CPC's disallowance of House...
Income Tax : In the Ravindra R.V. vs. DCIT case, ITAT Bangalore remits the denial of HRA exemption under Section 10(13A) back to the AO for rec...
Income Tax : The Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of Aman Kumar Jain against the Income Tax Officer, permitting re...
SEBI : SEBI addresses employee concerns on HRA and work culture, asserting transparency and accountability amidst claims of external infl...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate ...
Income Tax : Circular No. 90-Income Tax With the issue of orders in the Government of India, Ministry of Finance (Department of Expenditure),...
Income Tax : Reference is invited to the Central Board of Direct Taxes letter F. No. 12/19/64-IT(B), dated 22-2-1966 , where in it was intimate...
Overview of tax concessions for Indian residents and domestic companies for AY 2026-27, covering lower corporate tax rates (15%-25%), presumptive taxation (Sections 44AD/44ADA), capital gains exemptions, extensive TDS relief thresholds, and special higher tax exemption limits/rebates for resident senior citizens and super senior citizens.
Summary of key income tax benefits for salaried individuals for AY 2026-27, covering a range of exempt allowances like HRA, Children Education Allowance, and Transport Allowance, along with taxable perquisites, retirement benefits (Gratuity, NPS, Leave Encashment), and standard deductions.
ITAT restores Sunil Shigli’s appeal after CIT(A) summarily dismissed it over a supposed 4-day delay. Tribunal directs re-examination of delay and adjudication on merits of HRA and Chapter VIA addition.
The ITAT Ahmedabad has allowed an assessee’s appeal, condoning a 30-month delay and ruling against the CPC’s disallowance of House Rent Allowance (HRA) exemption under Section 10(13A).
Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid penalties and legal issues.
Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the Income Tax Department this Sunday requesting them to verify the HRA claims for the past three years because no TDS on rent payments has been made by the assesse u/s 194IB.
Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find out the right steps to take.
This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indian context.
Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulations effectively.
Explore HRA exemptions and home loan deductions under old tax regime to minimize tax liability effectively. Learn to claim both benefits wisely.
