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Taxpayers can now correct wrongly reported foreign salary in ITR, according to a Delhi ITAT ruling. This decision clarifies that if overseas income is exempt under the DTAA, claiming a foreign tax credit is not allowed. Taxpayers should ensure accurate reporting to avoid complications.
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Stay informed about the 2026 income tax filing deadline. With over 4.3 crore ITRs filed, learn who must submit returns by July 31 and how to e-file efficiently. This article covers essential filing processes, deadlines, and the current status of the e-filing portal.
Gifts over ₹50,000 from non-relatives are taxable, but residents can find relief options to minimize or eliminate this tax burden. Understanding these rules can help you navigate tax liabilities effectively. Explore how to leverage these exemptions and ensure compliance while maximizing your financial benefits.
Sebi's latest move lowers the PMS investment threshold to ₹25 lakh, making mutual fund portfolios accessible to more investors. This change aims to enhance the investment landscape, allowing a broader audience to benefit from customized mutual fund strategies. With this adjustment, Sebi is set to reshape the investment industry, promoting financial inclusivity and innovation.
NRIs inheriting financial assets in India must navigate complex processes. This guide outlines essential steps, required documents, and common pitfalls to avoid for a seamless inheritance experience.