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Income Tax rules allow fair market value as on April 1, 2001 for ancestral property acquired before that date, reducing capital gains tax liability.
Budget 2026 grants full income tax exemption on land acquisition compensation under RFCTLARR Act, offering major relief to farmers and affected families.
Union Budget 2026 replaces the Income Tax Act, 1961 with the Income Tax Act, 2025, introducing simpler filing, lower penalties, and digital compliance.
ITR filing rules for AY 2026–27 explained. Check new deadlines, ₹5,000 late fee, reduced penalty for small taxpayers, and belated return dates.
ITAT Bangalore rules cash deposits of a fruit dealer were genuine business receipts, deleting additions under Section 68 for unexplained cash credits.