The Central Information Commission will seek a report from Income Tax department and Directorate of Estate regarding tax exemptions claimed by political parties and their assets to ascertain whether there is enough indirect funding from the government to bring them under the ambit of RTI Act.
The committee has been asked 'to study and identify the provisions.
India is faced with a unique opportunity highest increase in working age (15-64) population over the next 20-30 years which can propel economic growth. India will account for 25 per cent of the global increase in workforce over the next 4 decades.
Bharti Airtel reported a 33.5 per cent decline in consolidated net profit to Rs 7,325 crore for the March 2026 quarter, primarily attributed to one-time provisions for statutory and tax liabilities.
Can't believe you can file your income tax return without Form 16? Read this...
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
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.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
Concerned over the high outstanding wealth tax and income tax, Finance Minister Jaswant Singh said as against a tax demand of over Rs 70,670 crore, the net collectable demand stood at only 35 per cent of the total amount.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
Despite a disappointing Q4 FY26 performance, many analysts remain bullish on Hindustan Aeronautics (HAL) due to its substantial order book and pipeline. However, persistent supply chain issues, particularly for jet engines, and execution challenges are key factors that could impact its future stock performance and revenue growth.
Students and families must stress test repayment capacity based on Indian salary standards.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
There are some solid reasons for acquiring a PAN card (if you don't have one) and filing your ITR within the due date, which is 31st July every year.
Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as part of their probe into alleged tax evasion.
Maharashtra Minister Sanjay Shirsat received an Income Tax notice regarding an increase in his assets between the 2019 and 2024 elections. He initially claimed MP Shrikant Shinde also received a notice but later retracted the statement.
The 52-year-old, who started as a helper, has been in the business for the last 35 years. Today, assisted by his wife and a team of seven workers, Sakhare sells about 50 kgs of poha (made out of flattened rice), serving 1,000- 1,200 people daily, which fetches him over Rs 100,000 a month.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
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.
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
Non-profit organisations set up for charitable purposes may see a tightening of income tax provisions.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Trinamool Congress leader Abhishek Banerjee accuses the BJP of using central agencies to undermine Mamata Banerjee in the West Bengal elections, alleging a lack of public support for the saffron party.
rediffGURU T S Khurana answers readers' personal income tax queries
Archit Gupta on how can you maximise your savings and reduce your taxable income.
In a major relief to tax payers, the Union Budget for 2005-06 on Monday altered income tax brackets.
The Supreme Court has sought responses from the Centre and others on a plea challenging the validity of a provision of the Income Tax Act that allows political parties to receive "anonymous" cash donations below Rs 2,000.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Punjab Chief Minister Bhagwant Mann has criticised the BJP-led central government following ED raids on state minister Sanjeev Arora, alleging political harassment and misuse of central agencies.
The Union Cabinet dropped the condition laid by previous government to exempt income tax payers from Haj subsidy.
A brother and sister, allegedly involved in 31 criminal cases of theft and snatching, were arrested in Delhi after a mobile phone snatching incident.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
We attempt to demystify for the salaried class the two main ITR forms applicable in their case, i.e. Forms ITR-1 and ITR-2.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
If you are a salaried person, you will be filing your returns using the new income tax return form, ITR. Do you think the ITR is simpler than Saral? Or are there drawbacks in the new ITRs? Tell us.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
Finance Minister Pranab Mukherjee is not in a mood to cut taxes but may continue with stimulus in the budget for 2011-12, feel industry representatives who met him for Pre-Budget interactions.
Punjab Chief Minister Bhagwant Mann has accused the BJP-led central government of playing 'dangerous games' with Punjab, alleging the misuse of agencies like the Enforcement Directorate (ED) and the CBI for political purposes.
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.
