₹12 Lakh Rebate Won’t Stop Firms Deducting 10% TDS Under Section 194T
Section 194T requires firms and LLPs to deduct 10% TDS on specified partner payments above ₹20,000 from 1…
₹12 Lakh Income Pays Zero Tax Under Section 87A Rebate, Not Exemption
India's AY 2026-27 new tax regime offers zero tax up to ₹12 lakh for residents via Section 87A…
75+ Super Senior Citizens Can Skip ITR Filing Only If Section 194P Conditions Are Met
India's Section 194P allows resident seniors 75+ to avoid ITR filing in 2026 if income is limited to…
Upstox Warns ₹12 Lakh Section 87A Rebate Excludes Share Capital Gains Under New Tax Regime
Indian taxpayers must classify share profits as business income or capital gains carefully to navigate the new ₹12…
₹1,000 Credit Card Cashback Usually Isn’t Taxable in ITR 2026. but High-Value Rewards May Be
Personal credit card rewards in India are generally non-taxable rebates, but business-linked benefits and high-value spending may face…
Tiger Global Tax Ruling Prompts GAAR Grandfathering Review for Foreign Investors
India's 2026 GAAR amendment shields pre-2017 investment transfers from anti-abuse rules, though broader offshore structures face continued scrutiny…
Delhi High Court Rules Interest Earned During Project Setup Is Non-Taxable Capital Receipt
Delhi High Court rules interest earned on project-linked deposits is a non-taxable capital receipt, distinguishing it from taxable…
Landlord Taxes Unchanged: 1031 Like-Kind Exchanges Still Allow Deferral
Landlord capital gains rates remain at 0%, 15%, and 20% in 2026. New OBBBA rules enhance deductions but…
Ending Birthright Citizenship Could Cost U.S. $7.7 Trillion, Hit California and Texas
Princeton study warns that ending U.S. birthright citizenship would cost the economy $7.7 trillion and increase the unauthorized…
IRS Warns 2021 Form 1040 Filers: Claim Recovery Rebate Credit to Avoid Penalties
IRS taxpayers have until July 10, 2026, to claim pandemic-era tax penalty refunds following the Kwong ruling and…
Missouri General Assembly Approves Tax Swap, Putting Income Tax Elimination to Voters
Missouri voters will decide in November 2026 whether to repeal state income taxes and replace them with expanded…
Texas Federal Court Vacates IRS Rule Targeting 831(b) Micro-Captive Tax Shelters
Texas court vacates IRS listed transaction rule for 831(b) micro-captives but keeps disclosure rules for transactions of interest…
IRS Blocks Project Soy Tax Strategy, Targeting Liberty Global Inc. Under Section 245A
IRS wins $109M court battle against Liberty Global after judge rules 'Project Soy' tax maneuver lacked economic substance…
IRS Revives Commensurate-With-Income Standard in Platform Contribution Transactions
IRS Memo AM 2025-001 revives the 'commensurate with income' standard, allowing tax adjustments based on actual profits rather…