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The Amending Protocol modifies the taxation of income from dividends by replacing a single rate of 10 percent of tax with a split rate of 5 percent for those holding at least ten percent of capital and 15 percent of tax for all other cases

An NRI man earned Rs 44 lakh salary abroad and deposited it in his NRE account. The Income Tax Department issued a notice, but the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled in his favor. The tribunal stated that salary earned overseas and credited to an NRE account is not taxable in India. This decision provides significant relief to non-residents.

New draft rules for the Income Tax Act, 2025, are sparking a debate between old and new tax regimes. Salaried taxpayers may find the old regime more beneficial if they can utilise exemptions like house rent allowance and other deductions. The proposed rules offer higher exemption limits for certain allowances.

An NRI man earned Rs 44 lakh salary abroad and deposited it in his NRE account. The Income Tax Department issued a notice, but the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled in his favor. The tribunal stated that salary earned overseas and credited to an NRE account is not taxable in India. This decision provides significant relief to non-residents.

A Pune taxpayer faces a hefty Rs 9.44 lakh penalty for misreporting Rs 10.65 lakh in deductions, including fake claims for political donations and medical expenses. The Income Tax Appellate Tribunal upheld the penalty, deeming the misreporting a conscious act rather than a bonafide mistake. This resulted in a 200% penalty on the additional tax liability.

Under the new tax regime, your income up to Rs 12 lakh is tax-free, while under the old tax regime, an income up to Rs 5 lakh is tax-free for individuals up to 60 years, after respective tax rebates under Section 87A of the Income Tax Act, 1961. To salaried individuals, the new tax regime offers a standard deduction of Rs 75,000, while the old tax regime offers a standard deduction of Rs 50,000. However, a lady from Mumbai didn't pay any income tax on a rental income of Rs 17 lakh in a financial year. Know how it was possible. Can you pay zero tax on Rs 17 lakh rent?

The draft income tax Rules 2026 make it mandatory to disclose your 'relationship with landlord' for claiming HRA

Hyderabad, Ahmedabad, Pune and Bengaluru will be added to the existing metro category of Mumbai, Delhi, Kolkata and Chennai, for House Rent Allowance (HRA) purposes.

The draft framework, released by the Income Tax Department to replace the Income Tax Rules, 1962, outlines a series of changes aimed at tightening compliance, widening reporting requirements

A high-income taxpayer's Rs 10.65 lakh wrong deduction claim resulted in a Rs 9.44 lakh additional tax demand, including a steep 200% penalty. With scrutiny of Rs 50 lakh+ earners rising, experts warn that incorrect exemption claims can quickly escalate into heavy financial consequences.