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Gifting Property to Spouse? Know the Tax Rules That Still Apply

Sneha Sukumaran Mullakkal

When a husband gifts a share in an immovable property to his wife, it may seem like a tax free transaction. Under the IncomeTax Act, such gifts are...

ITR-3 Filing: Income Tax Department Releases Latest Excel Utility for AY 2024-25

Income Tax - Income Tax Return - ITR - taxscan

ITR-on-time or Jail Time? Know the Penalties for Non-Filing of Income Tax Returns

Capital Gain - Capital Gain Deduction - Capital gains for couples - Property Owners - Spouse tax - taxscan

Capital Gain Deductions aren't just for Property Owners: Here's How you and your spouse can benefit

Income Tax Update: Excel utilities of ITR 1 and ITR 4 for AY 2023-24 are Available for filing

Income Tax Dept releases Tax Calculator as per Finance Bill 2023

The income tax department, under the apex direct tax body, the Central Board of Direct Taxes (CBDT) has released a tax calculator that can be used by taxpayers to calculate their tax liability as per...

Over 4.67 Crores ITR filed till December 27 for FY 2020-21

Over 4.67 Crores income tax returns (ITRs) for the 2020-21 Financial have been filed upto December 27, 2021 including 15,49,831 ITRs filed on the day itself. The department has been reminding...

CBDT releases instructions to Income Tax Return forms for AY 2021-22 [Read Instructions]

The Central Board of Direct Taxes (CBDT) notified the instructions are guidelines to help the taxpayers for filling the particulars in ITR-1 SAHAJ, ITR-2, ITR-3 ITR-4, ITR-5, ITR-6, and ITR-7, ...

Income Tax Return: CBDT discontinues with Excel and Java Version of ITR Utilities, releases JSON Utility for ITR1 & ITR 4 for AY 21-22

The Central Board of Direct Taxes ( CBDT ) discontinued with Excel and Java Version of ITR Utilities, releases JSON Utility for ITR-1 & ITR-4 for Assessment Year 21-22. In order to use offline...

CBDT amends Return Forms and manner of Furnishing Return of Income for AY-2020-21 [Read Notification]

The Central Board of Direct Taxes (CBDT) on Friday amended the return forms and manner of furnishing return of Income for the Assessment Year 2020-21. The Board empowered under Section 139 read with...