May 14, 2026

taxpayers

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ITR filing: What are the nuances of new income tax return forms? Top things salaried taxpayers, including cross border employees should know

contact@dailyupdatesindia.com012 mins

With another tax return filing season round the corner, it is pertinent for taxpayers to plan. (AI image) India’s personal tax compliance framework is undergoing a decisive transformation, driven by digitisation, pre-filled data integration, and the introduction of simplified tax regimes by the Indian Income tax department.The Income tax return (ITR) forms for FY 2025–26…

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How recent Foreign Tax Credit changes impact salaried taxpayers earning from abroad

contact@dailyupdatesindia.com010 mins

FTC allows individual taxpayers to claim a credit in India for taxes paid in a foreign jurisdiction on the same income. (AI image) With the rise in global workforce mobility, an increasing number of Indian professionals are earning income across multiple jurisdictions. Employees of multinational companies undertaking overseas assignments, or cross-border roles receive regular salaries…

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Salaried taxpayers alert! What is your year-end tax readiness? Check list of important documents & top things to keep in mind

contact@dailyupdatesindia.com09 mins

With March 31, 2026, serving as the definitive cut-off, only those investments and expenditures completed on or before this date qualify for tax benefits. (AI image) As the financial year draws to a close, millions of salaried taxpayers across India enter a decisive phase. What was once a routine process of submitting investment proofs to…

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Received an ITR refund email or SMS alert? Income Tax Department has an important warning for taxpayers

contact@dailyupdatesindia.com03 mins

The Income Tax Department has cautioned taxpayers against a surge in refund-related fraud attempts, warning that scammers are exploiting delays and heightened expectations around tax refunds through fake emails, phone calls and SMS messages.In a message posted on X, the department urged taxpayers not to share one-time passwords (OTPs), bank details or personal information in…

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Wake-up call for individual taxpayers! Foreign assets reporting in focus – what you should know

contact@dailyupdatesindia.com08 mins

Individual taxpayers often struggle with determining the correct reportable value of foreign assets. (AI image) India’s foreign assets reporting is no longer evolving quietly in the background; it has entered an era of assertive enforcement. Budget 2026 reinforced that overseas income/ asset disclosure is not merely a procedural obligation to disclose in the Income tax…

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French president emmanuel macron says on stage elon musk has most billions of dollars from american taxpayers upset musk replies that39s not us but .jpg

French President Emmanuel Macron says on stage Elon Musk has most billions of dollars from American taxpayers; Upset Musk replies: That’s not us, but …

contact@dailyupdatesindia.com02 mins

French President Emmanuel Macron recently said that the US tech billionaire Elon Musk is “over-subsidised”. Speaking at an industrial summit in the Belgian city of Antwerp, Macron cited Musk’s Starlink as an argument for public investment in European industry. “Everybody is fascinated by Starlink. I’m super happy,” he said adding “But if you are lucid,…

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New draft Income Tax rules 2026 released: Simplified ITR forms, focus on easier compliance – what common taxpayers should know

contact@dailyupdatesindia.com03 mins

New Income Tax Rules 2026 (AI image) New Income Tax Rules 2026: The Income Tax Department on Saturday released the draft Income-tax Rules, 2026. These new rules will become effective from April 1, 2026, that is the start of the financial year 2026-27. There are several changes aimed at simplification in tax filing and ease…

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88% individual taxpayers shift to new tax regime, CBDT chief rules out sunset clause for old regime

contact@dailyupdatesindia.com02 mins

The new income tax regime has seen widespread adoption among individual taxpayers, with about 88 per cent now filing returns under the system, CBDT Chairman Ravi Agrawal said, while clarifying that the government is not considering a sunset clause for the old tax regime.He said the choice between tax regimes continues to remain with taxpayers,…

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