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US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

A US-based NRI won relief in an NRI cash deposit tax case in India after the Delhi bench of the Income Tax Appellate Tribunal accepted that ₹11.18 lakh deposited during demonetisation came from earlier overseas remittances intended to support his parents. In an order pronounced on Wednesday, April 8, 2026, in Arun Bussi v. ACIT, the tribunal directed the deletion of the tax addition for assessment year 2017-18. The

NRI News

27 Jun 2026 09:05 AM

US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

A US-based NRI won relief in an NRI cash deposit tax case in India after the Delhi bench of the Income Tax Appellate Tribunal accepted that ₹11.18 lakh deposited during demonetisation came from earlier overseas remittances intended to support his parents. In an order pronounced on Wednesday, April 8, 2026, in Arun Bussi v. ACIT, the tribunal directed the deletion of the tax addition for assessment year 2017-18. The

NRI News

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

Finance & Economics

20 Jan 2026 07:24 AM

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

Finance & Economics

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Indian markets rallied on Monday following Prime Minister Narendra Modi’s announcement of sweeping tax reforms aimed at boosting domestic consumption and supporting growth. The Nifty 50 index climbed by 1%, while the BSE Sensex advanced 0.84%. The rupee also gained strength as the US dollar fell 0.18% against it. The rally reflected optimism that the tax overhaul would provide relief to households and industries at a time when India faces steep tariffs fr

Finance & Economics

18 Aug 2025 13:15 PM

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Indian markets rallied on Monday following Prime Minister Narendra Modi’s announcement of sweeping tax reforms aimed at boosting domestic consumption and supporting growth. The Nifty 50 index climbed by 1%, while the BSE Sensex advanced 0.84%. The rupee also gained strength as the US dollar fell 0.18% against it. The rally reflected optimism that the tax overhaul would provide relief to households and industries at a time when India faces steep tariffs fr

Finance & Economics

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

11 Aug 2025 09:55 AM

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

In a significant legal ruling, the Income Tax Appellate Tribunal (ITAT) has dismissed the Congress party's appeal against an income tax demand of Rs 199 crore for the financial year 2018-19. The tax demand relates to party funds and stems from allegations of late filing of income tax returns and violations of cash donation limits. The ITAT ruled that the Congress party's return filed on February 2, 2019, was

Political News

22 Jul 2025 09:04 AM

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

In a significant legal ruling, the Income Tax Appellate Tribunal (ITAT) has dismissed the Congress party's appeal against an income tax demand of Rs 199 crore for the financial year 2018-19. The tax demand relates to party funds and stems from allegations of late filing of income tax returns and violations of cash donation limits. The ITAT ruled that the Congress party's return filed on February 2, 2019, was

Political News

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#indiatax

US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Intel Layoffs 2025: 24,000 Jobs Cut, Factory Projects Cancelled Amid $2.9 Billion Loss

$1 Million Powerball Ticket Sold in Northeast Columbus Convenience Store

Montgomery County man sentenced to 35 years for child sexual abuse

US-China 90-day tariff truce lifts global markets as inflation data weakens dollar

How AI Is Helping Indian Entrepreneurs Scale Businesses in the USA

UNSC Urges International Cooperation After Pahalgam Attack as India-Pakistan Tensions Rise

Santa Clara Hosts Metallica’s No-Repeat Concerts, Drawing Fans From Around the World

Nurturing Healthy Family Relationships Through Effective Communication

How Sleep Organizes Your Memories—One Pupil Contraction at a Time

Secretary Duffy Visits Newark Airport, Urges End to Government Shutdown

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Intel Layoffs 2025: 24,000 Jobs Cut, Factory Projects Cancelled Amid $2.9 Billion Loss

$1 Million Powerball Ticket Sold in Northeast Columbus Convenience Store

Montgomery County man sentenced to 35 years for child sexual abuse

US-China 90-day tariff truce lifts global markets as inflation data weakens dollar

How AI Is Helping Indian Entrepreneurs Scale Businesses in the USA

UNSC Urges International Cooperation After Pahalgam Attack as India-Pakistan Tensions Rise

Santa Clara Hosts Metallica’s No-Repeat Concerts, Drawing Fans From Around the World

Nurturing Healthy Family Relationships Through Effective Communication

How Sleep Organizes Your Memories—One Pupil Contraction at a Time

Secretary Duffy Visits Newark Airport, Urges End to Government Shutdown

#indiatax

US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

US-Based NRI Wins ₹11.18 Lakh Cash Deposit Case at ITAT Delhi

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Intel Layoffs 2025: 24,000 Jobs Cut, Factory Projects Cancelled Amid $2.9 Billion Loss

$1 Million Powerball Ticket Sold in Northeast Columbus Convenience Store

Montgomery County man sentenced to 35 years for child sexual abuse

US-China 90-day tariff truce lifts global markets as inflation data weakens dollar

How AI Is Helping Indian Entrepreneurs Scale Businesses in the USA

UNSC Urges International Cooperation After Pahalgam Attack as India-Pakistan Tensions Rise

Santa Clara Hosts Metallica’s No-Repeat Concerts, Drawing Fans From Around the World

Nurturing Healthy Family Relationships Through Effective Communication

How Sleep Organizes Your Memories—One Pupil Contraction at a Time

Secretary Duffy Visits Newark Airport, Urges End to Government Shutdown

Popular Cities