TDS error: Father gets income tax notice after selling ancestral land jointly with son – how he won the case in Income Tax Appellate Tribunal

The property purchaser mistakenly applied the entire TDS under the father’s name, rather than splitting it proportionally between the father and his son. (AI image) Selling joint property? Be careful of the tax implications, TDS deductions, and how it needs to show up in your income tax returns. Each beneficiary has to keep an eye […]

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Income Tax department doubts Rs 10 lakh gift – brother gets tax notice for cash received from sisters; how he appealed & won the case

The brother’s success in the case stemmed from providing comprehensive documentary proof. (AI image) Gifts received from relatives and friends can sometimes land you in the income tax net. One such case was of a Mr. Maheshwari from Agra, who had to prove the genuineness of Rs 10 lakh received as cash from his sisters.According […]

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