News
Budget 2026: How joint ITR filing for married couples can reduce tax liability?
14+ hour, 26+ min ago (524+ words) The Institute of Chartered Accountants of India (ICAI) has suggested an optional system of joint taxation for married couples in its pre-Budget submission to the finance ministry. Under the existing Income-tax framework, individuals are taxed separately, with each taxpayer entitled…...
Should married couples be taxed together?
1+ day, 21+ hour ago (1179+ words) In today's Finshots, we explain why the Institute of Chartered Accountants of India (ICAI) wants the government to let married couples file income tax returns jointly. Back in 2018, a small but significant slice of Indian taxpayers was quietly shaving off…...
A Postmark Alert from Haddam Tax Office
2+ day, 9+ hour ago (129+ words) Submitted by Sheri Berger, Haddam Tax Collector Residents are encouraged to plan ahead when mailing time-sensitive items such as tax payments. If you need a same-day postmark, take your mail to the post office counter and request a manual postmark....
End of distinction between singles and couples: Government unveils transition to single tax scale
1+ week, 1+ day ago (421+ words) The Luxembourg government presented its tax reform on Tuesday, centering on the abolition of the existing three tax classes in favour of a single, universal scale. Prime Minister Luc Frieden described the move as the government "starting the year with…...
Income Tax Department’s Emails Cause Concern Among Taxpayers
2+ week, 2+ day ago (773+ words) The OV News Desk comprises a professional team of news writers and editors working round the clock to deliver timely updates on business, technology, policy, world affairs, sports and current events. The desk combines editorial judgment with journalistic integrity to…...
Joint home loans can help families save tax
2+ week, 3+ day ago (516+ words) A joint home loan availed by two or more close family members, such as spouse, siblings, parents or children, enhances loan affordability. It not only divides the repayment responsibility but can also help lower interest rates and improve eligibility for…...
ICAI proposes optional joint taxation scheme for married couples
2+ week, 3+ day ago (384+ words) Institute of Chartered Accountants of India (ICAI) has proposed the introduction of an optional joint taxation scheme for married couples, as part of its pre-Budget consultation with the finance ministry, arguing that the move would better reflect India's household realities…...
Where a tax NUDGE becomes an unintended and intrusive push
2+ week, 6+ day ago (566+ words) India's tax administration is gradually moving away from an enforcement-heavy approach towards one that encourages voluntary compliance. A key step in this transition is the Central Board of Direct Taxes' (CBDT) NUDGE initiative'short for Non-intrusive Usage of Data to Guide…...
Income Tax Alert: Refund on Hold Due to “Nudge” Campaign — What to Do
3+ week, 17+ hour ago (418+ words) Income Tax Alert: Why Your Refund is on Hold and How to Respond to "Nudge" Campaign The Context of the New Initiative: Why You Received the Communication: The department is specifically looking for instances where deductions or exemptions have been…...