New Income Tax Return (ITR) forms for AY 2026-2027 mandate additional details for Section 80G and 80GGC deductions. Taxpayers must now provide transaction reference numbers, bank IFSC codes for 80G donations, and the political party's name and PAN for 80GGC contributions.
The Delhi High Court clarified that landlords cannot arbitrarily deduct security deposits for routine wear and tear like repainting. Tenants are liable only for damage beyond normal use, and landlords must prove the damage and justify costs, distinguishing between wear and tear and actual tenant-caused damage.
King Charles reveals paying £24.6m in tax over two years, yet fails to disclose income sources, sparking concerns over royal financial transparency and accountability to Parliament amidst ongoing scrutiny of royal wealth and public funding.
Homeowners can claim tax deductions on interest paid for both original home loans and subsequent loans used to repay them, up to Rs 2 lakh for self-occupied properties under the old tax regime. This benefit, supported by a 1969 CBDT circular, is expected to continue under the Income-tax Act, 2025, provided proper documentation is maintained.
Indian rental laws distinguish between normal wear and tear and actual damage for security deposit deductions. Landlords must prove tenant-caused damage beyond normal deterioration, while tenants are responsible for repairs due to negligence or unauthorized alterations.
India's Model Tenancy Act, 2021 clarifies responsibilities for repairs and maintenance between landlords and tenants. It outlines tenant recourse for landlord inaction and tenant duties to prevent damage, with provisions for force majeure events.
Under India's New Tax Regime, salaried employees and pensioners can claim a ₹75,000 standard deduction, employer NPS contributions (up to 14% of salary), and interest deductions on home loans for let-out properties, reducing taxable income.
Bolton Wanderers have secured promotion back to the Championship after a 3-1 victory over Stockport County in the League One playoff final. Sam Dalby's late overhead kick sealed the win, marking a significant return for the club after years of turmoil.
Bolton Wanderers have secured promotion to the Championship after a 3-1 victory over Stockport County in the League One playoff final at Wembley. Sam Dalby scored a decisive overhead kick, with Rúben Rodrigues adding a late penalty.
Andrew Malkinson, wrongfully convicted for 17 years, is fighting a request to deduct legal fees from his compensation. He calls it 'penny-pinching' and 'vindictive', urging the Justice Secretary to intervene. The Ministry of Justice stated compensation was increased and is consulting on appeal laws.
UFC President Dana White wrote to President Trump to reverse a 90% cap on gambling loss deductions in his tax law, citing harm to the gambling ecosystem. The provision limits taxable winnings deductions, affecting players and the industry.
Despite Chinese Super League clubs facing challenges, a talented young generation, including Wang Yudong, Xiang Yuwang, Peng Xiao, and Hu Hetao, brings optimism for China's 2030 World Cup qualification bid.
Updates on day four from the latest round of games Counties face points deductions for financial losses | Mail TanyaWith four overs lost. Things are about to sprout into action elsewhere.“Now then, Tanya!” Hell0 there Tim Maitland. Continue reading...
Updates on day four from the latest round of games Counties face points deductions for financial losses | Mail TanyaWith four overs lost. Things are about to sprout into action elsewhere.“Now then, Tanya!” Hell0 there Tim Maitland. Continue reading...
Proposed rules similar to those used by Premier LeagueECB responding after Sussex’s operating loss of £1.33mCricket counties will face automatic points deductions for making repeated losses under strict new financial rules that will be introduced next season.The Guardian has learned that the England and Wales Cricket Board is planning to bring in its own version of football’s profit and sustainability rules underpinned by points deductions in a shadow form next year to give counties time to adjust, before fixed punishments for clubs that fail to break even are introduced in 2028. Continue reading...
The Orissa High Court has ruled that a company director must face criminal proceedings for failing to deposit Rs 15.14 lakh deducted from employee salaries for provident fund between 2012-2013. Despite the company becoming insolvent and the director later clearing all dues between July 2014-February 2015, the court held that subsequent payment cannot eliminate criminal liability for the initial default. The court emphasized that EPF dues must be deposited within 15 days of the succeeding month, and any delay constitutes a penal offence.
