Teena Jain Kaushal

Going forward, taxpayers with overseas bank accounts, investments, interest, dividends or other reportable foreign financial assets should reconcile these with their Income Tax Return and foreign asset disclosures.

Going forward, taxpayers with overseas bank accounts, investments, interest, dividends or other reportable foreign financial assets should reconcile these with their Income Tax Return and foreign asset disclosures.

The choice between the old and new tax regimes is not a one-size-fits-all decision. While the new regime offers lower tax rates and greater simplicity, the old regime may continue to deliver better outcomes for certain categories of taxpayers who avail substantial deductions and exemptions.

If the rent for flat and furniture is composite amount and cannot be bifurcated, the entire amount would be taxable under the head House property.

For salaried individuals who also trade in derivatives, gains and losses from F&O transactions are treated as non-speculative business income. The ITR filing deadline will depend on whether the taxpayer is liable for a tax audit. If a tax audit is required, the due date is October 31; otherwise, the return must be filed by August 31.

The Finance Act, 2026 has extended the filing due date to August 31 for taxpayers with business income whose accounts don't need an audit and that includes salaried employees who dabbled in derivatives or intraday trading.

SDLs, which are direct borrowings of state governments carrying sovereign rating, remain the anchor for conservative investors. The sharper and bigger momentum, however, is in State Guaranteed Bonds, issued by state-owned entities.

So far in 2026, US equity is back on top with 16.1 percent while Indian equity, down 8.1 percent, has become the year's weakest.

A bond SIP buys you discipline, a rate ladder and access at smaller ticket sizes. What it does not buy you is the cost-averaging magic of an equity SIP.

"The monsoon has caught up in large parts of the country, including Maharashtra, which moderates the early fears around rural demand"