Topic
Taxes● +4% net tone today
- Star Health’s policy base rose 11% after individual health insurance premiums were exempted from GST
- Taxpayers must check their tax audit report and complete remaining steps by 30 September
- A valid Origin Declaration suffices to claim concessional duty on UK imports under the India-UK CETA
Stories per day
123 Sept
1824 Sept
2625 Sept
1626 Sept
1627 Sept
928 Sept
₹85.30 lakh cash gifts from relatives: ITAT says donors’ low income alone isn’t enough to reject genuine gifts
- Chennai ITAT deleted a tax addition of ₹85.30 lakh on cash gifts
- Taxpayer produced gift deeds, donors’ ITRs and financial statements
- The ruling may guide Indian taxpayers facing scrutiny of family gifts
Salary earned abroad, credited to NRE account: Does that make it taxable in India? ITAT ruling explained
- Bengaluru ITAT ruled that foreign salary credited to an Indian NRE account alone cannot make it taxable in India
- The taxpayer’s employment was overseas
- The ruling may inform tax treatment for Indians working abroad and their financial advisers