Rs 80 lakh gift from brother-in-law lands man in tax trouble; here’s how he won the case

Husband staying in UAE gets Rs 80 lakh from brother-in-law by executing gift deed in USA, tax dept issues notice, wins case ...

Gift from brother-in-law is tax-free, rules tax Tribunal

A Kolkata tax court has recently ruled that a large gift from a brother-in-law is completely exempt from income tax, even if ...
CNBCTV18

Brother-in-law’s gift not taxable, ITAT rules: What it means for families receiving money from abroad

The Kolkata ITAT has ruled that gifts from a brother-in-law, including those from abroad, are tax-exempt under Section ...
Tax Guru

Gift from Brother-in-Law Not Taxable Under Income Tax Act: ITAT Kolkata

ITAT Kolkata held that gifts received from a brother-in-law are exempt under Section 56(2)(vii), as the relationship qualifies as relative for tax ...

Gift or income tax trap? How the taxman views generous presents given by your family and friends

Under Section 56(2)(x) of the Income Tax Act, gifts from “relatives” are tax-free, regardless of the amount. But gifts from ...

Bought land above Rs 30 lakh? Tax department may send you income tax notice if you make this simple error and how to avoid it?

Many people are receiving unexpected income tax notices questioning how they funded their land purchases. As the tax department has access to data related to property registrations, a simple mismatch ...
Dawn

Punjab Revenue Dept asked to complete settlement, bifurcation of 41 revenue estates

ISLAMABAD: The Islamabad High Court (IHC) has directed the additional deputy commissioner revenue (ADCR) Rawalpindi and the Punjab Revenue Department to complete the long-pending settlement and ...
Mint

Let your Diwali gifts compound: How to gift mutual funds and insurance this festive season

Diwali is a festival of lights and a celebration of joy. We exchange gifts with loved ones to make them happy. But what if you twist this gifting ritual a bit this year? Instead of a physical item, ...
Hosted on MSN

Elder brother tricks younger sibling, grabs property by pretending he needed it for loan, loses case in Bombay High Court for this reason

Two real brothers jointly acquired a house property in Maharashtra on June 10, 2008. However, the elder brother expressed his desire to obtain financial assistance based on the property, which was ...
moneycontrol.com

Everyday savings account moves that can trigger I-T attention

A savings account is not just where your salary lands and bills get paid; it’s the clearest trail of your money habits. Banks and other institutions submit reportable information on specified ...
Business Today

Why your bank deposits, withdrawals, high-value transactions can be under Tax Dept’s lens

Frequent or high-value transactions in savings accounts are drawing closer attention from tax authorities as the Income-tax Department ramps up data-driven monitoring under stricter compliance rules.
Indiatimes

Parakamani theft case: TTD board member alleges procedural lapses by trust board appointed by YSRCP while accepting Rs 14 cr worth properties

Tirupati: Tirumala Tirupati Devasthanams (TTD) trust board member and BJP functionary G Bhanu Prakash Reddy has alleged that the TTD trust board appointed during the YSRCP regime was involved in ...