Payal sold her half share in an old house for ₹3.82 crore.

She reinvested the gains in the ground floor and first floor of another property, rebuilt it and claimed Section 54 exemption.

Tax Officer disallowed the exemption.

Here’s how ITAT Delhi allowed it 🧵👇 [1] Facts of the case:

🔸 Payal sold her half share in a house in East Punjabi Bagh, Delhi

🔸 Sale value was ₹3.82 crore

🔸 She earned long-term capital gains of about ₹3.42 crore

🔸 Then she claimed exemption under Section 54

Kuruzu did not file his ITR.

Later, Tax department noticed a ₹10 crore property purchase in his name and sought an explanation.

Tax officer imposed a penalty of ₹48.29 lakh.

But here’s how ITAT Chennai saved him from it 🧵👇 [1] Facts of the case:

🔸 Kuruzu had not filed his ITR for FY 2014–15

🔸 The tax department identified that he purchase a ₹10 crore immovable property

🔸 Based on this, the case was reopened

🔸 After receiving notice, he filed his return and disclosed income of ₹2.82 crore

Syed vegetable vendor deposited ₹44,63,900 in his bank account.

But when the tax officer asked him to explain the transactions through notices, he ignored them.

Here’s what happened when the case reached ITAT Bengaluru.🧵👇 [1] What happened

🔸 In FY 2016-17, Syed had not filed his income tax return

🔸 The department found cash deposits of ₹44,63,900 in his bank account

🔸 It also found cash withdrawals of ₹2,96,01,600 from the same account

Praveen, an NRI based in Australia, bought a ₹32 lakh flat in India.

₹14.70 lakh was paid via his mother’s bank account and he had not filed his ITR.

The tax department treated it as an unexplained investment and proposed tax at 78%.

Here’s how ITAT Mumbai saved him. 🧵👇 [1] Facts of the case

🔸 Praveen had not filed his income tax return for FY 2016-17

🔸 Property purchase information reached the tax department

🔸 Reassessment started by Tax department

Your SGBs will no longer be tax-free

This budget will make you pay up to 39% tax on your SGB gains

Here’s what changes from April 1🧵👇 [1] What exactly changes after the Budget

🔸 Capital gains exemption will now be restricted

🔸 Only original issue subscribers get tax-free SGB

🔸 Holding must continue from the issue date till maturity

🔸 Secondary market purchases lose exemption

Abdul runs a fruit business. Cash comes in daily, so he deposits it in the bank.

In one year, he deposited ₹1,29,16,984 but did not file his ITR.

The tax department treated this as black money and told him to pay tax at 78%.

Here’s how ITAT Bengaluru saved him. 🧵👇 [1] Facts of the case

🔸 ITR not filed for AY 2015–16

🔸 Case reopened due to large bank deposits

🔸 Department noted total deposits of ₹1,59,30,000 in his bank accounts

He took ₹28 lakh for transferring rights in a family trust that owned a property.

Tax officer said: No. This is a property sale and value is ₹1.11 crore

And told him to pay tax on ₹83 Lakhs

Here’s how he paid zero tax 🧵 👇 [1] What actually happened

🔸 A taxpayer had rights in a family trust property in Colaba, Mumbai

🔸 From his share, he transferred 10% rights to a relative

🔸 Amount received: ₹28 lakh

The tax department treated this as a property sale.

Brijesh, an NRI, bought a ₹66.95 lakh property in India.

TDS was deducted.

But he didn’t file an ITR, assuming that he had no Indian income.

Soon, he received a notice and the full ₹66.95 lakh was treated as unexplained money.

Here’s how ITAT Ahmedabad saved him. 🧵👇 [1] Who is Brijesh?

Brijesh is an NRI, settled in the US for years.

He bought a residential property in India worth ₹66.95 lakh.

Since he was an NRI, he assumed:

🔸 TDS is deducted

🔸 No income in India

🔸 No need to file an ITR

That assumption triggered the problem.

Priyanka sold inherited gold jewellery.

The tax officer taxed the entire sale value as unexplained income.

Told her to pay ₹16.77 Lakh as tax

Here’s how ITAT reversed the decision 🧵👇

[Save this thread if you are selling inherited gold jewellery.] [1] Background of the facts

Priyanka Lalitkumar Raizada sold gold jewellery that she had received from her late father.

Since the jewellery was inherited, no purchase bills were available.

She computed capital gains using indexed cost based on an old valuation report.

Monica received ₹71,34,473 from her society’s builder.

The tax officer treated the entire amount as income and told her to pay a tax of ₹21,40,341.

Here’s what happened when it reached to ITAT Mumbai 🧵👇 [1] Facts of the case

🔸Monica was a member of a Mumbai housing society that went into redevelopment.

🔸She had to vacate her flat and shift to transit accommodation while the building was being reconstructed.

Byju’s deducted ₹1.49 crore TDS from Ajay’s salary

But never deposited it with the Tax Dept. It happened with 23,621 employees

Tax Dept sent Ajay a demand notice to pay the tax

But here’s how you can get away with ZERO liability even when your employer defaults on TDS🧵👇 [1] Fact of the case:

🔸 Salary slips showed full TDS deduction

🔸 Form 26AS showed zero deposit

🔸 CPC denied credit and generated a demand

Ajay argued that he had already paid the taxes.

Tax officers raided Prashant’s home

They found 263 grams of his mother’s gold jewellery worth ₹11.3 lakh.

With no bills, they called it unexplained income and slapped a penalty of ₹ 8.4 lakhs

Here’s what you should know if your family holds gold.🧵👇 [1] Facts of the case

During the search, the tax officer simply looked at the pieces and said:

🔸 No invoices.

🔸 No dates.

🔸 Therefore, undisclosed.

And he added it to Prashant’s income as if it was newly bought.

Sanjay received ₹11.98 crores against his ESOPs and paid zero tax

Tax officer said it was salary/perquisite and demanded ₹3.60 crores as tax

But here is how the Delhi High Court allowed him to pay ZERO tax. 🧵👇 [1] Facts of the case

🔶 Sanjay was granted Flipkart ESOPs in 2012.

🔶 After PhonePe’s separation, the value of those ESOPs dropped sharply.

🔶 Flipkart paid employees USD 43.67 per ESOP for the value drop.

🔶 There was no contractual obligation for this.

Pradeep sold a property where his minor daughter also held a 50% share.

Father paid tax on his 50% share. Minor paid 0% capital gains tax.

No clubbing?

Here's how and why the Tribunal allowed ZERO tax on minor's share👇🧵 [1] Facts of the case

🔶 After his wife’s death, Pradeep and his minor daughter each held 50% in the property.

🔶 To sell and fund her education, he went to the City Civil Court.

🔶 Court allowed sale only if the daughter’s 50% was kept in a bank under the Registrar.

Ramesh and Suresh both took a ₹60 lakh home loan

Both kept ₹8 lakh aside as their emergency fund

But Suresh finished his loan 6 years earlier and saved ₹19,25,307 in interest without paying a single extra rupee

Here’s all about Home Loan OD to save interest 🧵👇 [1] A Home OD loan works like a regular home loan, except it links your loan to an overdraft account.

🔸 Every rupee you park there reduces your interest-bearing principal:

🔸Interest = Loan – OD balance.

And you can withdraw the money anytime — EMIs continue as usual.

Suraj took a ₹60 lakh home loan for 20 years at 9% p.a.

He followed these simple hacks and SAVED ₹30,62,400 in interest

Here’s how to cut years off and save up to 44% in interest 🧵👇 [1] For the first decade, most of your EMI feeds interest, not ownership.

🔸After 10 years (120 EMIs), you still owe ₹42.6 lakh—only ₹17.4 lakh of principal is paid.

🔸This is why timing your prepayments matters.

A taxpayer forgot declaring her interest income of just ₹5,000

She got an income tax notice for this

How? AIS mismatch. Here are 10 critical AIS points to avoid such notices🧵 [1] Bank interest → Schedule OS + TDS
🔸 Report gross FD/RD/savings interest in Schedule OS

🔸 Match TDS in Schedule TDS; don’t net off

🔸 If AIS shows multiple banks, aggregate before filing

Zerodha has just launched a SECONDARY demat account feature

We analysed Abhijit’s case. He paid ₹1,60,000 more in taxes last year.

But now with this feature, taxpayers can save lakhs of taxes each year due to FIFO rules

Here’s how it plays out differently with one vs two Demats 👇 [1] What’s new?

🔸 Zerodha now lets you open a secondary demat linked to the same trading account.

🔸 Earlier separate FIFO was unavoidable as all holdings sat in one account.

Now FIFO is applied per account, letting you split long-term investments from short-term trades.

Nilesh, an NRI, earned ₹15 lakh from shares & bonds

Under normal provision, he’d pay ₹3,60,750 in tax

By using special provisions for NRIs we helped him SAVE ₹87,750 in taxes

Here’s how NRIs like Nilesh can do the same 🧵👇 [1] What is Chapter XII-A?

🔸 Applies only to NRIs investing in “foreign exchange assets” (shares, debentures, deposits, govt securities bought in forex)

🔸 Offers flat tax rates instead of slab rates

🔸 Gives certain ITR exemptions

One of our client (Ram) was about to pay ₹1,87,500 extra in taxes while selling his house

We added legally allowed costs and reduced his tax

List of all allowable costs while calculating capital gains 🧵👇 [1] Cost of acquisition is more than just the purchase price

As per Section 55 of the Income Tax Act, you can include:
🔸 Stamp duty & registration
🔸 Brokerage or commission
🔸 Capital improvement expenses
🔸 Legal & documentation charges

Priya set-off her F&O loss from capital gains

This helped her claim deductions of ₹1.93 lakhs from other sources and reduce surcharge from 15% to 10%

However, income-tax rejected and she had to pay ₹2.28 lakhs more in tax, penalty & interest

Here's what Tribunal decided🧵👇 [1] Let’s begin with the income profile:

🔸 Business Loss (F&O): ₹11.6 lakh
🔸 Long-Term Capital Gains (LTCG): ₹1.02 crore
🔸 Interest Income: ₹9.38 lakh
🔸 Deductions claimed under Chapter VI-A: ₹1.93 lakh