Social Media Ideas for Income Tax Surcharge On Trusts

Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No

Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No   Landmark Ruling Clarifies That Maximum Marginal Rate Does Not Auto...

Hidden Tax Trap: Does OBBBA Affect Trusts and Estate Deductions?

When Public Law 119-21, commonly referred to as the One Big Beautiful Bill Act (“OBBBA”), was signed into law last year, most families breathed a sigh of relief. The law made the d...

No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone

No Form 10B? ITAT Delhi Clarifies: Charitable Trust Cannot Be Taxed on Gross Receipts Alone     Non-Filing of Form 10B May Deny Exemption Under Sections 11 & 12, But It Does No...

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts   The introduction of Section 270A of the Income-tax Act marked a significant shift i...

Proposed Regulations Offer Relieving Exception from Form 1041-A Filing for Trusts with Passthrough Charitable Deductions

Proposed Removal of a Reporting Requirement for Trusts Whose Charitable Contribution Deductions are Solely for Contributions Made by Passthrough Entities, REG-109082-25, 91 Fed...

Centre brings amnesty scheme for PF Trusts to regularise their status

Recognition under the Income Tax Act, 2025 shall be available only to provident funds that have obtained exemption under Section 17 of the 1952 Act

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More!

When Tax Rules Surprise You – The Taxman Isn’t Always Asking for More! Query 1] My income during the year from salary was ₹11,72,190/-, Interest & Other Income was of ₹55,247/-...

UK Withholding Tax on Interest- Simplification or Risk Shift?

The Sunset Is Gone. Income Tax Remains: The PPLI – PPVA Solution.

For the better part of a decade, every estate planning conversation my colleagues had with a high-net-worth family started with the same clock: the 2017 Tax Cuts and Jobs Act exemp...

CIT(E) Must Specify the Exact “Specified Violation” Before Cancelling Trust Registration: ITAT Mumbai

CIT(E) Must Specify the Exact “Specified Violation” Before Cancelling Trust Registration: ITAT Mumbai     Vague allegations cannot justify cancellation of charitable trust registra...

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...

The Exclusivity of Special Treaty Provisions for Pooled Investments: Analyzing the Court of Federal Claims Decision in S...

The South Saskatchewan Community Foundation Inc. v. United States, No. 24-1391T (Fed. Cl. Aug. 25, 2026) For tax professionals advising cross-border tax-exempt organizations,...

What Is IRS Form 1041: U.S. Income Tax Return for Estates and Trusts

Updated for tax year 2026. As the baby boomer generation ages, more taxpayers are handling estate and trust taxes for the first […] The post What Is IRS Form 1041: U.S. Income Tax...

₹1 crore foreign asset disclosure could cost 60% under FAST-DS: Check the math

FAST-DS can impose a substantial cost on taxpayers declaring certain undisclosed foreign assets or income, with the tax and additional amount together reaching 60% of the declared...

Delayed Form 10B Filing Cannot Deny Trust Exemption if Filed Before Processing: ITAT Bangalore

Delayed Form 10B Filing Cannot Deny Trust Exemption if Filed Before Processing: ITAT Bangalore     Filing the correct audit report before CPC processes the return is sufficient com...

Wealth Tax Watch- A Mid-Year Update

Business Property Relief 2026: AIM Shares Hit Hardest

Three months into the reformed Business Property Relief regime, HMRC figures show one change is behind most of the extra inheritance tax […] The post Business Property Relief 2026:...

How non-grantor trusts maximize charitable, small business stock tax advantages

With recent changes to tax law, non-grantor trusts have become attractive vehicles for gaining tax efficiencies, such as when making charitable contributions.

Govt rolls out foreign asset disclosure scheme for small taxpayers

The Income Tax Department on Saturday notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effe...

Labor has backed down on its trust tax changes, but family trusts still face a difficult choice

Labor has retreated from one of the most contentious parts of its 2026 federal budget tax package, although Australians who use discretionary trusts shouldn’t mistake the change fo...

Anonymous Donations Cannot Be Treated as Unexplained Cash Credits Merely Because Donor Identity Is Unknown: ITAT

Anonymous Donations Cannot Be Treated as Unexplained Cash Credits Merely Because Donor Identity Is Unknown: ITAT   Vishakhapatnam ITAT holds that where a Section 12A trust treats a...

A 'complex' 38% tax on investments will not apply to the government's new savings scheme

Every eight years, deemed disposal taxes certain investments even when there has been no sale.

IRS Issues Transfer Tax Safe Harbor for Contributions to Trump Accounts

Has the Tax Shine Gone Off Sovereign Gold Bonds?

Has the Tax Shine Gone Off Sovereign Gold Bonds?     [Query 1] I have acquired SGB from the secondary market and redeemed on maturity before 01/04/2026. On attempting to report the...