rediffGURU T S Khurana answers readers' personal income tax queries.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
DIIs owned equities worth Rs 73.5 trillion, just 1.9 per cent less than FPIs. This marks a significant change from a decade ago.
With short-term rates firming up due to tight liquidity conditions, Indian corporates are opting to borrow long term to take advantage of the attractive rates by locking them in these uncertain times. The banking system has a liquidity deficit of over Rs 2 trillion. According to market participants, engineering conglomerate Larsen & Toubro (L&T) raised Rs 1,500 crore through 10-year bonds in December 2024.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Ahead of the Haryana Assembly polls, the Congress on Wednesday announced seven guarantees, including the promises of a legal guarantee for minimum support price (MSP) and a caste survey, if voted to power.
The Delhi assembly which held 74 sittings over its five-year term, met for an average of 15 days a year. On the days it met, the assembly sat for an average of three hours.
The 2025 Sony World Photography Awards has announced its National and Regional Award winners, celebrating talent from 56 countries.
Punjab Chief Minister Bhagwant Mann has dismissed speculation about dissent within the Aam Aadmi Party's state unit, asserting that Congress leaders have a history of switching parties while AAP leaders remain dedicated. Mann's remarks came after Punjab Congress leader Partap Singh Bajwa claimed that over 30 AAP MLAs were in touch with his party. Mann, however, dismissed Bajwa's claims, stating that Congress has a culture of switching sides. The meeting follows AAP's defeat in the Delhi Assembly elections, sparking speculation about instability in its Punjab unit. Mann reiterated the unity within AAP, highlighting his government's achievements, including closing 17 toll plazas, stopping multiple pensions for MLAs, and implementing the Delhi model in Punjab. On the promise of financial assistance of Rs 1,000 to women, he said it will be provided in the coming days. Meanwhile, the BJP has also intensified its attack on the AAP, with BJP leader Manjinder Singh Sirsa taking a dig at Kejriwal for holding a meeting with Punjab MLAs despite AAP's defeat in Delhi.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
This Women's Day Week, we pay tribute to the extraordinary courage, resilience, and leadership of three iconic Indian queens -- Rani Lakshmibai of Jhansi, Rani Chennamma of Kittur, and Maharani Ahilyabai Holkar of Malwa.
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
The Aam Aadmi Party (AAP), led by Arvind Kejriwal, suffered a major setback in the Delhi Assembly elections, losing to the Bharatiya Janata Party (BJP). The loss marks a significant blow to Kejriwal's national ambitions and raises questions about the future of the party. The AAP had been in power in Delhi for the past 10 years and had also formed a government in Punjab. Despite the defeat, the party still holds 13 MPs from Punjab and Delhi. The article examines the factors that contributed to the AAP's defeat, including allegations of corruption, poor civic facilities, and the BJP's relentless attacks. It also explores the impact of the loss on Kejriwal's national aspirations and the party's future.
rediffGURU T S Khurana answers readers' personal income tax queries.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
The government on Tuesday announced withdrawal of the 2 per cent equalisation levy or digital tax on overseas e-commerce supplies.
Let's Make Savings As Exciting As Spending. This World Savings Day, rediffGURUS Nitin Narkhede, Milind Vadjikar and Ramalingam Kalirajan are all set to answer your queries on savings and investments.
Under capital expenditure, Rs 48,614 crore has been set aside for aircraft and aero engines while Rs 24,390 crore has been allocated for the naval fleet.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
The family court awarded her a maintenance of Rs 5,000 per month. The husband them moved the high court over the family court's decision.
The road ahead will require navigating complex financial challenges while fostering job creation and sustainable development in the region.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
Ahead of the Delhi assembly polls scheduled to be held early next year, state Congress chief Devender Yadav said on Friday that the party will contest on all 70 seats and there would be no alliance.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Though seven opportunities have been granted to the states, it appears that full compliance has not been affected and several states are in default, it said.
The 'restore old pension' campaign is being spearheaded by the National Movement for Old Pension Scheme (NMOPS), a federation with over 13 lakh government employees as its members.
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
At just 12 and a half years old, Manjari won gold in diving at the 1968 national championship in Kanpur, competing against older athletes.
Apart from recruiting 18,000 women in state's police force, Thackeray said all female police stations will also be established in Maharashtra.
Several leading scientists, academicians, and agriculturalists have called for raising government support for research and development to make Indian agriculture future-ready.
The Brampton Triveni temple in Canada has cancelled a consular event after the Canadian police warned them of an "extremely high and imminent" threat level of violent protests. The Life Certificate event, organised by the Consulate General of India, Toronto, was scheduled for November 17 at the temple premises. The cancellation comes almost a week after protestors carrying Khalistani flags clashed with devotees at a Hindu Sabha temple and disrupted an event co-organised by the temple authorities and the Indian Consulate at Brampton. India condemned the attack and called for the prosecution of those involved. Relations between India and Canada have been strained since Prime Minister Justin Trudeau's allegations in September last year of a potential involvement of Indian agents in Khalistan extremist Hardeep Singh Nijjar's killing.
Punjab farmer leader Sarwan Singh Pandher said on Saturday that they have not received any message from the Centre for talks to address their issues and said a group of 101 farmers will again begin their march to Delhi on December 8.
The Punjab Police chief, Gaurav Yadav, and a senior officer from the Ministry of Home Affairs, Mayank Mishra, visited fasting farmer leader Jagjit Singh Dallewal at the Khanauri border point between Punjab and Haryana. They enquired about his health and heard his demands. Dallewal has been on a fast-unto-death since November 26 to press the Centre to accept the agitating farmers' demands, including a legal guarantee of MSP on crops. The visit came after the Supreme Court directed the Centre and Punjab government representatives to meet Dallewal and provide him medical help.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
A 'jatha' of 101 farmers will embark on a foot march to Delhi at 1 pm on Friday from the Shambhu border protest site, farmer leader Sarwan Singh Pandher said on Thursday.
Senior citizens of 75 years and above having pension income and interest from fixed deposit in the same bank would not be required to file income tax returns for the financial year beginning April 1.
