rediffGURU T S Khurana answers readers' personal income tax queries
Indian liquor brands are increasingly focusing on Hindi heartland states like Uttar Pradesh, Rajasthan, and Haryana as the next major growth engine for premiumisation, driven by expanding luxury portfolios, craft spirit launches, and upgraded retail experiences, as state governments embrace reforms.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Oil-marketing companies (OMCs) are set to significantly expand the sale of flex fuel (E85) across India, with plans to reach 5,000 outlets in major cities by the end of next year, according to Petroleum Minister Hardeep Singh Puri. This move aims to boost ethanol demand, reduce crude oil imports, and cut carbon emissions, coinciding with the launch of India's first flex-fuel vehicles by Maruti Suzuki and Hero MotoCorp.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
WhatsApp is finally letting you hide your phone number behind a custom username. While it's a massive win for privacy, cybersecurity experts warn it could unleash a wave of identity scams. Here is what you need to know.
Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said. The US president immediately dismissed the report as 'totally fake news'.
CPI(M) leaders have strongly criticised the ED raids on former Kerala CM Pinarayi Vijayan and others, alleging political motivation and a conspiracy by the BJP and Congress. They claim the raids are an attempt to intimidate the party and its leaders, and have vowed to fight back against what they see as a politically fabricated case.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
Immigrants' contribution to the US economy is disproportionate to their share of the population, meaning that losing them would shrink the economy even more than losing a random group of Americans, points out Sree Sreenivasan.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
Delhi Police have dismantled a cyber fraud operation that swindled a railway employee out of approximately Rs 60,000 under the guise of an online lottery. The investigation led to multiple arrests and uncovered a network using fake identities to open bank accounts for illicit transactions.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
Eight teachers in Maharashtra's Beed district have been suspended for allegedly using false hearing impairment claims to obtain government benefits. An inquiry revealed discrepancies in their disability certificates, leading to departmental action.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
A brother and sister, allegedly involved in 31 criminal cases of theft and snatching, were arrested in Delhi after a mobile phone snatching incident.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
Through his commitment to democratic norms, debate, dissent and constitutionalism, Jawaharlal Nehru helped ensure that parliamentary democracy took deep root in independent India. Utkarsh Mishra evaluates Nehru's 17 years as India's first prime minister, examining his role in nation-building, democratic institution-building, economic planning, scientific advancement and foreign policy.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
The ongoing agitation by income-tax officials has affected search and seizure operations of the department.
The Budget offers a limited-time regularisation window with clear thresholds, defined payments, and immunity from penalty or prosecution.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
India's online retail market concluded 2025 with electronic retail (e-retail) gross merchandise value (GMV) reaching $65-66 billion, a 19-21 per cent increase, according to a report by Bain & Company and Flipkart. This growth is significantly driven by GenZ shoppers and the rapid expansion of quick commerce, which has emerged as a global leader.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
Former chief secretary Vinit Chowdhary has criticised Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu over his handling of graft allegations in the Chester Hill housing project.
Taxpayers might face several issues while filing returns this year.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices "to facilitate completion of pending departmental work.
Congress chief Mallikarjun Kharge's remark calling Prime Minister Narendra Modi a 'terrorist' has triggered strong reactions from the BJP, who have demanded an apology from Congress leader Rahul Gandhi and Tamil Nadu Chief Minister M K Stalin.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
