I am 44 with salary, FD interest and mutual fund gains. How do I decide between the old and new tax regime each year?

ET Wealth Reader's Query: I am 44, earning income from salary, interest on deposits, and occasional capital gains from mutual funds. How should a middle-aged taxpayer evaluate which income tax regime works better each year?

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Claiming HRA? Salaried taxpayers need to disclose their relationship with the landlord in draft income tax rules 2026; know what precautions to take

New draft tax rules for 2026 will require salaried individuals claiming House Rent Allowance to disclose their relationship with their landlord. This applies especially when paying rent to relatives. Taxpayers must ensure genuine rental agreements and proper documentation. Payments should be made through banking channels. Landlords must declare rental income. These measures aim to enhance transparency in rental arrangements.

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Denied Rs 91.45 lakh capital gains deduction after selling a plot, taxpayer challenges Income Tax Department’s order in ITAT and wins case

The Income Tax Appellate Tribunal (ITAT) Pune ruled that investing full capital gains into a new property qualifies for Section 54F exemption, even if the entire sale consideration wasn't deposited in the Capital Gains Account Scheme (CGAS) before filing the ITR. This decision favored a taxpayer from Pune who had sold a plot of land, bought a new property and claimed full tax exemption of the capital gains from the sale of land.

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16 large financial transactions you can’t hide from Income Tax Department: Deposit, withdrawal, cash payments and more

Large financial transactions like cash withdrawals, property sales, and investments are automatically reported to the Income Tax Department via the Statement of Financial Transaction (SFT) mechanism. This reporting occurs even if these details aren't explicitly declared in your income tax return. Specified entities are mandated to submit this information.

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Lady with Rs 3.4 lakh annual income gets a Rs 33 lakh property via gift deed; tax dept sends notice; she wins in ITAT Delhi

The Income Tax Appellate Tribunal (ITAT) Delhi ruled that property received through a Hindu family settlement is not a taxable gift. The tribunal found that the transfer, executed as a formality following a family arrangement, did not constitute a taxable 'transfer' under the Income Tax Act, thereby dismissing the tax department's appeal.

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₹80 lakh cash loan row: Madras HC refuses to force PAN disclosure, sends papers to I-T dept

The Madras High Court has sent case files concerning an Rs 80 lakh cash loan to the Income Tax Department for scrutiny. The court ruled that the lender does not need to disclose his PAN number. This action follows a borrower's request for tax investigation into the large cash transaction. The court's decision aims to curb black money transactions.

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I have taken foreign citizenship. Can I send my mother Rs 5–10 lakh a year in India without FEMA or tax scrutiny?

ET Wealth Reader's Query: I have taken foreign citizenship. I would like to send to my mother living in Delhi amounts of Rs.5-10 lakh annually. Will that invite FEMA/tax scrutiny?

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Salary earned overseas, deposited in Indian NRE a/c: Why ITAT Ahmedabad quashed tax department’s notice

An NRI man earned Rs 44 lakh salary abroad and deposited it in his NRE account. The Income Tax Department issued a notice, but the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled in his favor. The tribunal stated that salary earned overseas and credited to an NRE account is not taxable in India. This decision provides significant relief to non-residents.

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Rs 27K income tax liability became Rs 9.44 lakh: Pune taxpayer claims fake deductions of Rs 10.65 lakh; taxman imposes 200% penalty; ITAT upholds fine

A Pune taxpayer faces a hefty Rs 9.44 lakh penalty for misreporting Rs 10.65 lakh in deductions, including fake claims for political donations and medical expenses. The Income Tax Appellate Tribunal upheld the penalty, deeming the misreporting a conscious act rather than a bonafide mistake. This resulted in a 200% penalty on the additional tax liability.

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Made profits in gold or silver? Here’s how to lock in gains and reset cost without raising your tax outgo

Gold and silver funds experienced strong rallies and sharp corrections, creating opportunities for tax harvesting. Investors can strategically use capital losses to offset gains or leverage the LTCG exemption to retain more profits. Careful timing and adherence to tax rules can significantly improve post-tax returns without altering long-term allocations. Tax harvesting can help investors lock in gains, adjust losses, and step up acquisition costs— without changing their long-term precious metals bet.

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Made profits in gold or silver? Here’s how to lock in gains and reset cost without raising your tax outgo

Gold and silver funds experienced strong rallies and sharp corrections, creating opportunities for tax harvesting. Investors can strategically use capital losses to offset gains or leverage the LTCG exemption to retain more profits. Careful timing and adherence to tax rules can significantly improve post-tax returns without altering long-term allocations. Tax harvesting can help investors lock in gains, adjust losses, and step up acquisition costs— without changing their long-term precious metals bet.

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Higher HRA, bigger tax-free perks: How draft Income-Tax Rules 2026 could boost your take-home pay

Budget 2026 introduces significant perquisite rule changes, lowering taxable housing valuations and increasing tax-free limits for education, meals, and gifts. While motor car perquisite values rise for employer-owned vehicles, employee-owned cars see a decrease in taxable value. These adjustments aim to boost employee take-home pay by reducing taxable income components.

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Old regime revival? Do the math first

Meaningful gains under the old regime hinge largely on HRA -- and not everyone may qualify.

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