A taxpayer whose deductions and exemption claims are less than Rs 3.75 lakh annually would be advised to opt for the new income tax regime and pay less tax than they gave in the old regime, a senior finance ministry officer said on Wednesday. The Income Tax Department has arrived at the figure after making due calculations for ensuring a "hassle-free and less tax rate" filing regime for the assessees, he said. Union Finance Minister Nirmala Sitharaman, while presenting the Budget for 2023-24, said the government has made the new income tax regime more attractive for taxpayers bringing "substantial changes" in its structure for the benefit of the middle class.
According to the apex court, the disclaimer should say that 'there is no authenticated data to back up the suggestion on figure of conversion and the film represents the fictionalised version'.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
It is best to invest long-term surplus in stocks or equity mutual funds.
'Since both Ram Charan and NTR Jr are dancing in this song, I don't want one of them to feel one up.'
The suspected terrorist arrested from Viswabharati fast passenger train at Burdwan station has links to terror groups Islamic State and Jamaat-ul-Mujahideen Bangladesh, a top Crime Investigation Department officer said on Tuesday.
A disciplined, systematic investment habit started at a young age is normally sufficient to meet modest goals without having to sacrifice a normal comfortable lifestyle, suggests Harsh Roongta.
Finance Minister Nirmala Sitharaman in her fifth Union Budget made five major announcements for the income tax assesse. She announced no changes in the old tax regime and confined her relief measures to the new tax regime. There have been no changes under the old tax regime.
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.
With the Aam Aadmi Party looking set for a clean sweep in the Punjab assembly polls, its leader Raghav Chadha on Thursday said the party will emerge as the national and natural replacement of the Congress in the coming days.
Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday directed officials to take strict action against illegal occupants of any land, be it government or private, without discrimination.
What went on inside Kolkata's 'house of horror'? Indrani Roy/Rediff.com reports.
Deepa Gahlot picks a list of 10 essential RGV movies though there are 84 to wade through.
For most of us, it is the biggest dream to own a house. As there is a feeling of pride attached to it, it becomes more of an emotional call than a financial call.
Mumbai's Bandra Kurla Complex (BKC), which houses the offices of some of the biggest banks in the country, however, slipped to 26th position from the 16th position.
Upon seeing the police, the accused, Shubham aka Sanjay Dixit, 27, tried to flee and in the process fell on the road in Lohamandi area and got injured, Indore's Vijay Nagar police station in-charge Tehzeeb Qazi told PTI, adding that the man was being questioned.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Payal Kumari, daughter of a migrant worker from Bihar, battled the odds including financial woes, to top the BA archaeology course at Kerala's Mahatma Gandhi University.
While there has been no official statement related to the action, British government sources said they are 'closely monitoring reports of tax surveys conducted at the offices of the BBC in India'.
The over 130-day-long protest by fisherfolk against the under-construction Vizhinjam sea port was on Tuesday called off for now.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
'Cracks continue to appear in more and more houses.' 'We believe the government is not going to tell us the truth.'
'Even after Awaara Hoon and Mera Joota Hai Japani, between 1946 to 1963, there were plenty of upheavals in his career. My parents had moved into two rooms of a chawl, with an attached bathroom, by then, but life was hard, and often there was no food at home.'
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
'The government is not ready to talk to us. They have their own agenda.'
The Supreme Court on Thursday set aside the Karnataka high court order quashing the charge sheet against an accused in the murder of journalist Gauri Lankesh for purported offences under provisions of the Karnataka Control of Organised Crimes Act.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Rezaul Karim was the custodian and courier of bombs and explosives for Jamaat-ul Mujahideen Bangladesh modules in Burdwan.
Housing prices could drop by up to 30% over 6 to 12 months after demonetisation.
Giving a chilling account of the gory crime, the police alleged that Poonawala's partner Walkar was "already living in constant fear of getting killed" even before the accused decided to get rid of her in a barbaric and brutal manner.
"This is FAKE NEWS. I have not made any such request to the government. As per the eviction letter handed to me on the 1st of July, I will be vacating the government accommodation at 35 Lodhi Estate by the 1st of August," she said in a tweet.
Uttar Pradesh Chief Minister Yogi Adityanath on Thursday said that youths of Azamgarh had to hide their identities due to narrow-minded divisive forces.
The police on Tuesday said businessman Mohammad Altaf Bhat was killed in the "cross-firing" between militants and security forces at Hyderpora on Monday, but he would be counted as a "harbourer of terrorists" as he did not inform authorities about the tenants in his building.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
The unfortunate associations with the name Charles for an English king -- one who was executed; the other with a very unsavoury reputation -- led royal observers to assume that Charles would not take his Christian name when he became king.
Lakshmanan contracted polio when he was only three months old. 'I didn't want to go for the swayamvar, but my uncle convinced me to attend.' He sat close to the door at the swayamvar. And then, Rohini walked in. Both her legs, too, were afflicted with polio.
The family of six, who are now forced to spend their days roaming in the streets and nights at a neighbour's house, had a harrowing experience on Tuesday as the three shops, owned by Muslims who don't reside in the building, on the ground floor of the two-storey structure were set on fire.
41 years ago, Dalits in Meenakshipuram converted to Islam, sending shockwaves through the nation.' A Ganesh Nadar/Rediff.com returns to the village to discover that past antagonisms lurk below the surface.
