Money gifted to spouse: income may be taxed in donor’s hands
A gift of money to a spouse is not taxable in the recipient's hands, but the income earned from that gifted amount can be clubbed with the donor's income, according to tax…
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Income Tax Act 2025: New rules for F&O loss set-off, carry-forward
The Income-tax Act, 2025, effective from April 1, 2026, retains largely unchanged tax treatment for futures and options (F&O) traders. F&O transactions continue to be treated as non-speculative business income, not capital…
Brokerage deductible on capital gains, STT not: tax expert
Brokerage paid to transfer a capital asset can generally be deducted when computing capital gains, but Securities Transaction Tax (STT) cannot, according to tax and investments expert Nishant Shanker. The deduction for…
Parents’ gifts to married daughter are tax-free but income from them is taxed
Gifts from parents to a married daughter are generally tax-free under the Income-tax Act, 2025, regardless of amount, as parents fall under 'specified relatives'. The usual Rs 50,000 threshold for gifts does…
