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The 31 July deadline for filing income tax returns (ITR) for the assessment year (AY) 2026-27 has passed. Individuals and Hindu Undivided Families (HUFs) eligible to file ITR-1 or ITR-2 and not required to undergo a tax audit had to file their returns by 31 July 2026. However, taxpayers falling into other categories have more…
Naming a nominee for your investments does not necessarily mean that the nominee becomes the final owner after your death. For investments such as shares, demat securities and mutual funds, the nominee generally receives the assets on behalf of the persons ultimately entitled to them under a valid Will or applicable succession law, experts said….
Indian banks offer varied fixed-deposit rates across five maturity categories. Here’s a comparison that covers deposits worth up to ₹1 crore. It includes 16 banks and rates available on 24 August 2026. The first category covers 6 months to under 1 year. The second covers 1 year to under 2 years. The third covers 2…
Harshal Bhuta, partner at P. R. Bhuta & Co., CAs, said that under ITR-U, foreign tax credit (FTC) is available if the taxpayer has already paid tax in a foreign country. FTC lets you adjust foreign taxes against your Indian tax liability directly while filing your ITR. In the example above, a 25% tax would…
Adani Group-backed Cemindia Projects Ltd. has appointed banks as it nears the launch of a share sale to institutional investors to raise as much as 50 billion rupees ($524 million), according to people familiar with the matter. The company, formerly known as ITD Cementation India Ltd., has been meeting institutional investors and could launch the…
The Indian stock market erased all morning gains, with Sensex and Nifty closing in the deep red even as oil prices slipped. Sensex lost 183 points to close at around 77,473 while Nifty 50 dropped 127 points or more than half a percent to end the session below 24,208. Broader markets ended mixed, with Nifty…
Freelancers and professionals filing income-tax returns for FY 2025-26 need to be careful about choosing the correct ITR form, opting for presumptive taxation and reconciling their income and tax deducted at source (TDS) records before the August 31 deadline. The biggest mistake is assuming that ITR-4 is simply a simpler version of ITR-3 and can…
What maternity features should one look for in a family health plan? This was a query posed by a 31-year-old man who was planning to start a family with his 29-year-old wife within a year and is currently relying on my employer’s group health cover. Prioritising financial planning over family planning is a thoughtful decision,…
The Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS), recently notified by the income tax department, has given eligible taxpayers a one-time window to disclose foreign assets and income that they either failed to report or did not disclose in the relevant schedule while filing their income tax return. The one-time disclosure window came into effect…
Airbnb once offered Indian homeowners an attractive alternative to traditional rentals, where yields typically remain around 2-4%. But the rapid growth in short-term rental listings is changing that equation, with falling nightly rates and rising competition putting pressure on hosts’ returns. Chandigarh-based Harshdeep Kaur experienced the shift after converting her home into an Airbnb in…