Sanjeev Sinha

With high-value immovable property gifts now under SFT reporting, scrutiny will rise, making accurate disclosure of such transactions in income tax returns increasingly important

Everyday mistakes, from delayed reporting to unauthorised vehicle use, can lead to a claim being denied

Disclose the property every year under Schedule FA of your income-tax return

To protect insurance policies purchased for spouse from recovery proceedings, place it under Married Women's Property Act

Taxpayers must be able to distinguish between matters where the old tax law still applies and those where the new one does

Carefully assess nature of grievance before choosing forum

Besides enjoying a share in the property, this will make them eligible for tax benefit

Identify correct court for filing complaint based on amount paid for goods or service

Do not skip crucial provisions of the agreement that have a bearing on your interests

If your claim was genuine, submit documents to back it up

The earlier defence that misconduct was the agent's independent act may not work in the future

A recent Supreme Court ruling reinforces that developers and service providers must prove profit-first motive before denying consumer status

The scheme's key drawback is the low monetary thresholds of Rs 1 crore and Rs 5 crore, which limit participation

The proposal extends relief from penalty and prosecution in misreporting cases, but taxpayers must forgo the right to appeal and carefully weigh the strength of their case

Budget 2026 signals a shift towards trust-based taxation by easing penalties, limiting prosecution for small and technical lapses

Scrutiny may extend to other assessment years if disclosures suggest a pattern of non-compliance

Keep allocation measured and aligned to your risk appetite, given the segment's higher risk

The deduction claimed must be in proportion to their ownership share and actual EMI contribution

Begin making these investments now, based on informed choices, instead of waiting till the last moment when mistakes are more likely

Beware of comparisons with FDs, and demand that all promises be put down in writing