Now request for nil or lower TDS deduction for property and other transactions via this new form as per Income Tax Act, 2025; See what’s changed

The Income Tax Act, 2025, introduces new Form 128 for applications requesting nil or lower Tax Deducted at Source (TDS) on property and other transactions. This form replaces the older Form 13, with some changes in required documentation. While the purpose remains the same, the new form streamlines the process for obtaining TDS certificates.

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One-time capital gains set-off dropped in latest version of Income Tax Act 2025: How it impacts your tax bill

The final Income Tax Act, 2025 has removed a one-time provision that allowed brought-forward long-term capital losses to be set off against short-term capital gains. This change reverts to the restrictions of the Income Tax Act, 1961, limiting LTCL set-off only against LTCG, impacting taxpayers' ability to reduce their tax liabilities.

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Can I set off capital loss from property sale against future gains from equity MF if I switch to the new tax regime?

ET Wealth Reader's Query: I have capital loss from an apartment sale in 2019-20, offset each year via equity MF gains. If I switch to the new tax regime in 2025-26, can I still carry forward and set off remaining losses against future equity MF gains?

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Section 87A tax rebate allowed on both long and short term capital gain income from equity for AY 2024-25 by ITAT Indore; Know why

The ITAT Indore has allowed Section 87A tax rebates on both long-term and short-term capital gains from equity for AY 2024-25. This ruling clarifies that the rebate applies even to income taxed at special rates, overturning a previous tax demand notice. The tribunal followed earlier favorable decisions from other ITAT benches.

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Got income tax notice or facing income tax scrutiny? Budget 2026 offers relief through revised, updated ITR, and immunity from prosecution

​With data analytics tightening the tax net, salaried taxpayers are increasingly facing income tax notices over small mismatches flagged through AIS/TIS and NUDGE alerts. Budget 2026 aims to ease this stress by widening correction windows and softening penalties. From March 1, 2026, taxpayers get more time to file revised returns, can submit updated returns even after reassessment notices, and access a revamped immunity framework.

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Good news for taxpayers in old tax regime: Higher HRA benefits extended to these new cities in new draft Income Tax Rules, 2026

Taxpayers in Bengaluru, Hyderabad, Pune, and Ahmedabad can soon benefit from increased house rent allowance tax relief. The government proposes extending the 50% HRA exemption to these cities under the old tax regime. This change, effective April 1, 2026, aims to provide significant savings for salaried individuals.

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Budget 2026 alters equity taxes: Buybacks, dividends decoded

New tax rules for equity investors are coming. From April 2026, share buybacks will be taxed as capital gains. Dividend tax rules are also changing, with interest expense deductions being withdrawn. Bonus shares and stock splits continue to have tax implications only upon sale. Understanding these changes is vital for maximising investment outcomes.

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Good news for taxpayers in old tax regime: Higher HRA benefits extended to these new cities in Budget 2026

Taxpayers in Bengaluru, Hyderabad, Pune, and Ahmedabad can soon benefit from increased house rent allowance tax relief. The government proposes extending the 50% HRA exemption to these cities under the old tax regime. This change, effective April 1, 2026, aims to provide significant savings for salaried individuals.

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Income Tax Department releases draft Income-tax Rules, 2026: Simplified forms, easier compliance & other key features explained

Income-tax Rules: The Income Tax Department has released draft Income-tax Rules, 2026, effective April 1, 2026, simplifying ITR filing forms and procedures. These draft rules, open for public feedback until February 22, 2026, aim to reduce compliance burden through standardized, smart forms with prefill and reconciliation capabilities.

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Pay reduced tax at 39% rate on unexplained income compared to 78% earlier, with close eye on penalty, Budget 2026 announcement?

Budget 2026 brings a major tax relief for unexplained income. The tax rate has been slashed to 39 percent from the earlier 78 percent. This change applies to unexplained credits, investments, and expenditures. Taxpayers can now pay a lower tax on such income. The new provisions aim to simplify tax compliance.

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Confused about income tax deduction on pre-EMI interest? Budget 2026 brings clarity on Rs 2 lakh home loan deduction

Budget 2026 brings clarity on home loan tax deductions. Prior-period interest on home loans is now explicitly included within the Rs 2 lakh deduction limit for self-occupied properties. This amendment aligns the new Income Tax Act with previous rules. Taxpayers can now understand the total interest deduction cap more clearly. The overall tax benefit for most homeowners remains unchanged.

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Old tax regime is not going to end soon; CBDT chairman rules out sunset clause for old regime

The old tax regime will not be phased out soon, according to CBDT Chairman Ravi Agrawal, despite 88% of individual taxpayers opting for the new regime. While the new system offers simplicity and lower rates, the old regime remains relevant for a select group with significant deductions like housing loans and investments.

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Income tax slabs after Budget 2026: Have tax slabs for FY 26-27 changed? Check latest rates

Income tax slabs for FY 2026-27 remain unchanged for both the old and new tax regimes. Taxpayers will continue to use the existing slab structures, with no revisions in rates or income thresholds. This offers continuity for individuals as they assess which tax regime best suits their financial situation.

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