10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
Kerala Home Minister Ramesh Chennithala has alleged that the violent attack on Enforcement Directorate (ED) officials' vehicles was a conspiracy by the CPI(M) to disrupt law and order. The ED raids were linked to financial dealings between former CM Pinarayi Vijayan's daughter's firm and a sand mining company.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
Kerala Home Minister Ramesh Chennithala has condemned the violent attack on Enforcement Directorate (ED) officials' vehicles, alleging a CPI(M) conspiracy to disrupt law and order. He asserted that those involved will face stringent legal action, regardless of their status.
According to a report, while 121.1 million PAN card holders were there up to March 31, 2011, the number of tax returns filed were just 34.8 million during 2010-11.
Proposal forms are often filled by the agent. Check the form after it is filled.
Income tax authorities on Friday launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said.
The deadline for filing income tax returns is (July 31) fast approaching. While many may be filing returns through their chartered accountant, filing e-returns (electronic returns) is the fastest and more convenient.
Unveiling the reform agenda for the Budget, Finance Minister P Chidambaram has said a comprehensive law would be prepared next year to overhaul the Income Tax Act.
Income Tax department on Monday began searches at the premises of FMCG company Vicco Laboratories in Mumbai, Nagpur and Goa for alleged tax evasion.
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.
The Maharashtra Anti-Terrorism Squad (ATS) is investigating a bogus religious trust in Beed that received funds from a controversial international organisation, Chief Minister Devendra Fadnavis announced.
Four Madhya Pradesh police officers have been suspended for allegedly accepting a bribe of Rs 20 lakh from a businessman in exchange for releasing Rs 1 crore found in his vehicle.
Ludhiana Police have busted a large cyber fraud racket, arresting 132 people involved in running fake call centres that targeted foreign nationals through various online scams.
Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .
Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
Knowledge of the income tax laws is indispensable. There may be tax deductions available that you may not be aware of.
A new comprehensive Income Tax bill will be drawn up by the next fiscal end to clean up complex and archaic laws, Finance Minister P Chidambaram said on Friday.
People with more than Rs 10 lakh (Rs 1 million) annual income may not get the tax relief originally proposed in the Direct Taxes Code, as the finance ministry is for tweaking slabs across the board to offset concessions elsewhere.
AI-driven job disruption, rising debt, shrinking savings and a changing global economy are reshaping India's middle class. Saurabh Mukherjea discusses jobs, entrepreneurship, investing and the future of India's economic growth on THE REDIFF PODCAST.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
A fire broke out on the sixth floor of the IncomeTaxBuilding in Marine Lines area in south Mumbai tonight but there were no report of casualties.
TIOL has come to know that in a path-breaking judicial decision, the Commissioner of Income Tax (Appeals) handling international taxation cases in Delhi has held that the Gracemac Corporation, a 100% subsidiary of Microsoft which had in 1999 granted proprietary and ownership right in license and in intellectual property of Microsoft software and hardware products, is liable to pay income tax on its gross royalty income earned out of licensing of software to Indian customers.
I-T dept plans a different set of parameters to identify more people not paying dues properly.
A 61-year-old man from Mangaluru was allegedly cheated of Rs 2.07 crore by cyber fraudsters posing as officials of central investigative agencies in a 'digital arrest' scam, police said.
We take the opportunity to bust a few myths
The Maharashtra government sanctioned over Rs 1 crore for development works at a temple linked to Ashok Kharat, a self-styled godman accused of rape, in 2018. The funds were approved under the regional tourism development scheme. Kharat was arrested on March 18 after being accused of repeated rape.
Police in Surat are investigating an alleged interstate hawala-linked political funding network involving Aam Aadmi Party (AAP) functionaries, with Rs 1.25 crore reportedly routed from Delhi to Surat ahead of Gujarat local body polls. The AAP has dismissed the claims as a conspiracy by the ruling BJP.
ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
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.
The post-mortem report of a senior IRS officer's daughter, who was murdered in her Delhi residence, reveals strangulation as the cause of death, along with multiple injuries indicating a struggle and assault. A former domestic help has been arrested in connection with the crime.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
Here's a simple primer to what actually Form 16 is and what must be done with it.
