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The Latest Breaking News from capital gains

Confused about ITR forms? Here's how to pick the correct ITR for AY 2026-27

Choosing the right Income Tax Return form for AY 2026-27 depends on income sources. ITR-1 now allows reporting income from two house properties. Salary, house property, and other sources can be reported in ITR-2. Business or professional income generally requires ITR-3 or ITR-4. Complete income profile determines the final ITR…

The Economic Times

Has government scrapped Long Term Capital Gain (LTCG) tax for foreign investors? Finance Ministry replies

The government has clarified no LTCG tax scrapping for foreign investors. Only investments in Government Securities now receive tax exemptions. This measure aims to attract foreign portfolio investors to the G-Secs market.

The Economic Times

Warren Buffett is handing $140 billion to his family's foundations. The way he's doing it reveals how billionaire philanthropy really works

People assumed Buffett was avoiding taxes or warehousing the money. Experts say the more telling question is how he's giving it away.

Fortune

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Is government planning to scrap Long Term Capital Gain (LTCG) tax on equities for domestic investors in FY 26-27? Minister responds

Long Term Capital Gain: The Finance Ministry has denied contemplating the scrapping of LTCG tax on equities for domestic investors. There is no current proposal under consideration to remove this tax for retail investors.

The Economic Times

Are you an NRI who sold an under-construction property? Here's what actually counts as your “Date of Purchase” for capital gains calculation

NRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term capital gains tax treatment. The Bombay High Court and other rulings support the allotment date as the acquisition point. This principle applies even when possession or registration occurs much later. Proper documentation…

The Economic Times

Don't let selling your house trigger a tax notice: Check these rules under Sections 54 and 54F

Many taxpayers who purchase or construct a residential house to claim exemption under Sections 54 or 54F are unaware that selling the house within the prescribed lock-in period can reverse the earlier tax benefit. This article explains how such a sale affects the computation of capital gains, highlights the different…

The Economic Times

Which ITR form should I file as I am a homemaker who has Rs 98,000 dividend income and paid Rs 4000 TDS?

ET Wealth Reader's Query: I am 43, a homemaker, with mutual fund investments of Rs 35 lakh and stock investments of Rs 50 lakh, mostly invested from my husband’s income. During FY2025 26, I received dividend income of Rs 98,000, on which TDS of Rs 4,000 was deducted. I have…

The Economic Times

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Save income tax when filing ITR for AY 2026-2027 by claiming Section 54 or 54F benefits if you sold land, house property or equity shares; Know how

Indian taxpayers can claim capital gains tax exemptions by reinvesting sale proceeds. Section 54 and 54F allow exemptions for residential property sales and other assets. Specific timelines and conditions must be met for claiming these tax benefits. Unutilised amounts must be deposited in the Capital Gains Account Scheme. Reporting these…

The Economic Times

10 Types of Income That Don’t Count Toward Social Security’s Earnings Limit in 2026

Many Americans are surprised to learn that working after claiming Social Security doesn’t automatically reduce their benefits. What often causes confusion is the difference between...

Saving Advice

Sold multi-asset MFs? Before filing ITR, check the fund’s underlying asset mix as it determines tax treatment; know how to file return on such gains

Multi-asset mutual fund taxation depends on equity and debt exposure. Equity-oriented funds have specific tax rates and holding periods. Debt-oriented funds are taxed at investor slab rates after 24 months. Specified mutual funds treat all gains as short-term capital gains. Correct ITR schedules are crucial for reporting these gains accurately.

The Economic Times

Lady with Rs 5.28 lakh income pays no tax despite Rs 1.42 lakh STCG from equities; Know why ITAT Mumbai allowed the Section 87A rebate

Ever since the Income Tax utility has disabled the option to claim Section 87A tax rebate on short term capital gains (STCG) from listed equities in 2024, a flurry of taxpayers from across the country were left with either a tax demand or an uncertain thought. Read to know how…

The Economic Times

Popular Capital Gains Tax ETF Strategy Catches Treasury's Attention

As Section 351 exchanges gain popularity, the Treasury Department is considering whether certain transactions could lead to abusive tax outcomes.

Kiplinger

How to file ITR-3 online on the Income Tax e-filing portal for AY 2026-2027

Individuals with business income must file ITR-3 for AY 2026-2027. This form captures various income sources, including salary and capital gains. Taxpayers can file ITR-3 online through the e-filing portal. The process involves filling general information and specific schedules. E-verification must be completed within thirty days of submission.

The Economic Times

Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax notices

NRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of shares from a son to his father is not regarded as a transfer for capital gains purposes in the hands of the donor, the reporting…

The Economic Times

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Kiplinger

What a Delaware Statutory Trust Can Do for Your Kids That Your Will Can't

Delaware Statutory Trusts (DSTs) can keep capital gains taxes at bay when your children inherit your property. But you need to handle them smartly.

The Economic Times

Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT Bangalore

Filed revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's decision and won case in ITAT Bangalore. Know how the taxpayer won the case in ITAT Bangalore.

The Economic Times

How to select the right ITR form based on your income for AY 2026-2027

Choosing the right income tax return form for AY 2026-27 depends on income sources. Individuals can now report two house properties using ITR-1 under specific conditions. Salary, house property, and other sources may qualify for ITR-1 if income is below fifty lakh. Business or professional income typically requires ITR-3 or…

The Economic Times

ITR filing: Claimed capital gains exemption? The 3-year tax trap that may trigger income-tax notices

Many taxpayers wrongly believe that capital gains deposited in the Capital Gains Account Scheme (CGAS) become taxable only on withdrawal. This article explains the overlooked three-year rule under Sections 54 and 54F, why it leads to income tax notices and the key compliance checks taxpayers should undertake while filing their…

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The Economic Times

Rs 1 lakh Investment turns into Rs 2.98 lakh: Sovereign Gold Bond 2021-22 Series premature redemption date today

The Reserve Bank of India has set the premature redemption price for SGB 2021-22 Series-IV. Investors can redeem these bonds prematurely from July 20, 2026, after five years. Tax rules apply to capital gains on premature redemption of these bonds.

The Economic Times

These property sellers may need to re-compute advance tax after delayed release of Cost Inflation Index for tax year 2026-27; here’s what to do

Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property acquired before July 23, 2024. Advance tax payments for the first quarter were due before the index was notified. Underestimating tax liability could lead to interest charges for deferred payments.…

The Independent UK

What Shabana Mahmood as chancellor could mean for your money and taxes

From income tax to capital gains levies – we examine how Andy Burnham’s likely new chancellor could impact your wallet

Kiplinger

2026 Capital Gains Tax Rates by State: How Much Investors Pay This Year

Selling investments at a profit can be rewarding for some — until tax season arrives. And federal taxes are just one part of the equation.

The Economic Times

Govt to replace Ordinance by introducing Income-tax (Amendment) Bill in Monsoon session

Parliament will soon consider a bill to replace an ordinance on tax exemptions. This aims to attract foreign capital and stabilize the rupee. The proposed legislation seeks to deepen India's sovereign debt market. It will also enhance liquidity amid global economic uncertainties. Another bill to amend MSME Development Act will…

The Economic Times

Cost Inflation Index: How it can help you file your income tax return

The Income Tax Department has announced the Cost Inflation Index for the upcoming tax year. This index, set at 384, will adjust asset acquisition costs for capital gains. It becomes effective from April 1, 2026, impacting future tax calculations.

The Economic Times

ITR 2026: Common income tax return filing mistakes that cost employees lakhs

A careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensuring that all eligible deductions and benefits are correctly claimed. The Income Tax Return (ITR) filing due date for salaried individuals is July 31, 2026 if they are not liable for tax…

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