Income tax sleuths who reached Khan's residence on Jail Road in Rampur in Uttar Pradesh at 7 am on Wednesday completed their search Friday evening.
The Income Tax Department can easily detect such illegal activities and the penalties could be huge.
"I categorically state that the central government has no plan to impose any tax on agriculture income," Jaitley said in a tweet.
The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy. The 25 basis points rate cut to 6.25 per cent comes after last rate reduction in May 2020. The last revision of rates happened in February 2023 when the policy rate was hiked by 25 basis points to 6.5 per cent.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
Real Madrid coach Ancelotti goes on trial in Spain for tax evasion.
Maharashtra minister Sanjay Shirsat denies allegations that a bag seen in a viral video contained money, claiming it only held clothes. The video surfaced amid scrutiny over a significant increase in his declared assets.
The income tax department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions. Under the Income Tax Act Section 220 (2A), if a taxpayer fails to pay the tax amount specified in any demand notice, he/she is liable to pay interest at 1 per cent per month for the period of delay in making the payment. The Act also empowers Principal Chief Commissioner (PrCCIT) or Chief Commissioner (CCIT) or Principal Commissioner (PrCIT) or Commissioner rank officers to reduce or waive the amount interest due to be paid.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.
The Supreme Court has sought responses from the Centre and the Ladakh administration regarding the detention of climate activist Sonam Wangchuk under the National Security Act (NSA). Wangchuk's wife has filed a plea challenging the detention, claiming it violates his fundamental rights. The court has given the Centre and Ladakh administration 10 days to respond and has scheduled the next hearing for November 24.
Without changes to the taxation rules, buybacks are expected to remain scarce.
Even as non-life insurers reported muted premium growth in October, standalone health insurers saw a robust 38 per cent year-on-year (Y-o-Y) surge. This growth was driven by pent-up demand in the retail health insurance segment.
Automobile retail sales across the domestic market witnessed a 21 per cent year-on-year increase in the 42-day festive season led by record registrations of passenger vehicles and two-wheelers aided by GST rejig enabled drop in prices across segments, dealer' body FADA said on Friday.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Failure to disclose any income can lead to penalties and legal issues.
Income Tax department have released different tools to help you file your ITR-3 form easily.
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
'Last year, we had about 10 to 12 per cent of Hollywood films as a box-office contribution. This year already, it has jumped up to 24 per cent because the lineup is very strong.'
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
Trent reported decent margins in the second quarter (July-September) of 2025-26 (Q2FY26) but growth moderated. Same store growth was low single-digits. Trent's revenue growth decelerated in Q2FY26 at 17 per cent year-on-year (Y-o-Y) while area additions were offset by decline in revenue per square foot (sq ft).
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
Lower rates effectively increase disposable income, strengthen purchasing capacity, and support broader consumption growth.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'
The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
Tax expert Anil Rego answers readers' questions about how Finance Minister Piyush Goyal's Budget affects you.
The systematic withdrawal plan stands out as a superior option, providing steady income despite market fluctuations and inflation, says Ramalingam Kalirajan.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
