The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
The Pakistan Cricket Board has started clearing the dues of national team players, which were held up for the last few months because of issues relating to new central contracts.
The current situation in Kerala politics is perhaps best described as a case of the state's traditional two front politics now seeing a third front (the BJP) muscling in with the potential outcome being either a messy three front affair or a renewed endorsement of the two front pattern but with one of the old fronts compromised or quashed, observes Shyam G Menon.
The 33-year-old, who has played 70 Tests and 137 limited overs internationals since 2011, will continue to play for his country but have a "significantly reduced role", NZC said.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
One hundred years ago, a group of 10 revolutionaries carried out an operation that shook the British Empire. Utkarsh Mishra revisits the 'Kakori Conspiracy Case', a turning point in the armed struggle for independence.
The Centre on Wednesday told the Supreme Court that nobody can claim right over government land and it is legally empowered to reclaim properties which are declared waqf by using the waqf by user principle.
The Supreme Court on Friday refused to entertain a fresh plea challenging constitutional validity of the Waqf (Amendment) Act, 2025.
Here is a look back at India's hard-fought 1-0 series win in England, 54 years back.
The Trinamool Congress on Friday accused the Bharatiya Janata Party of spreading lies and criminalising poverty over the detention of Bengali-speaking migrant workers in Odisha, while the saffron party charged the Mamata Banerjee dispensation with providing shelters to illegal immigrants.
'I had no idea I would endure difficult times while making this film.'
As many as 12 flights were diverted at the Delhi airport between 3 pm and 4 pm due to adverse weather conditions, an official said.
The National Company Law Appellate Tribunal (NCLAT) has allowed state-owned Canara Bank and Indian Bank to pursue proceedings against former IL&FS directors, who are not part of the new board, to declare them as wilful defaulter. However, the appellate tribunal said those directors who are part of the new board of Infrastructure Leasing & Financial Services (IL&FS) and its various subsidiaries after October 1, 2018, would remain protected.
Temperatures are likely to remain in a similar range until Thursday, with a gradual fall expected from June 13.
Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
The Supreme Court's ruling in the BPSL case exposes deep flaws in the IBC's institutional framework and raises concern about judicial overreach, notes Rajeswari Sengupta.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, provides a list of competitive exams that can help you land a job in the public sector.
The Indian government has defended the Waqf (Amendment) Act, 2025 in the Supreme Court, arguing that there cannot be a blanket stay on the law as there is a presumption of its constitutionality. The Centre countered the pleas challenging the law's validity, asserting that the amendments were undertaken after a comprehensive study by a parliamentary panel. The government also highlighted the "reported misuse" of earlier provisions and the increase in waqf land, claiming that over 20 lakh hectares were added after 2013.
The Pakistan Cricket Board (PCB) is set to investigate a case involving a UK-based Pakistani agent, Mughiz Ahmad Shearachiikh, who has been suspended by the England and Wales Cricket Board (ECB) for breaching its anti-corruption code. Shearachiikh and his company, International Cricketers Association (ICA), had signed several centrally contracted Pakistani players last year.
Zee Entertainment Enterprises, co-producer of Kangana Ranaut's film Emergency, on Friday told the Bombay high court it has agreed to the cuts suggested by the censor board.
Jaishankar said the UN Security Council condemned the attack and underlined the need to hold perpetrators, organisers, financiers and sponsors of the reprehensible act and bring them to justice.
The disbursement of the second tranche comes on a day when the International Monetary Fund is holding virtual discussions on Pakistan's upcoming budget, as the visit of its mission to Islamabad was delayed due to security concerns in the region.
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value.
The CBSE announcement came following a directive from the Human Resource Development ministry saying exams are important but safety and security of students and teachers is equally important.
'So, they have taken away the word Waqf from the Bill.' 'It will now be known as the UMEED Act.'
Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday dismissed concerns regarding faecal contamination in the waters at Triveni Sangam, stating that continuous monitoring and purification processes ensure its quality.
The BJP-led Mahayuti alliance, which secured a landslide victory in the recent Maharashtra assembly elections, is set to form the new government in the state. Outgoing Chief Minister Eknath Shinde, his deputies Devendra Fadnavis and Ajit Pawar met Union Home Minister Amit Shah to finalize a power-sharing agreement. The alliance partners, BJP, Shiv Sena and NCP, will decide on ministerial berths at the meeting with Shah. Political circles are abuzz about the social equations in Maharashtra influencing the choice of the next Chief Minister.
The Web portal of the Organiser, the RSS mouthpiece, published an article (withdrawn later) that the Christian community holds many acres of land, far more than Waqf property.'
The BJP received the highest amount in large donations among national parties in the financial year 2023-24, with over Rs 2,243 crore declared from 8,358 donations, according to a report by poll rights body the Association for Democratic Reforms (ADR). The report, based on data submitted to the Election Commission, highlighted trends in political donations above Rs 20,000. The total declared donations to national parties stood at Rs 2,544.28 crore from 12,547 contributions - a sharp 199 per cent increase compared to the previous year.
India's second largest IT services company Infosys has been slapped with a 'pre-show cause' notice for alleged GST evasion to the tune of about Rs 32,403 crore. In a BSE filing, the Bengaluru headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crores for the period July 2017 to March 2022, towards the expenses incurred by overseas branch offices of Infosys Ltd, and added that the company has responded to the pre-show cause notice.
The Supreme Court of India has sought responses from the Centre and others on a petition challenging the constitutional validity of certain provisions of the Waqf Act, 1995. The petition argues that the Act gives undue favor to waqf properties and deprives non-Muslims of their property rights. The court has tagged the petition with pending petitions that raise similar issues.
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction, compliance reduction, and obsolete provisions. Pursuant to the Budget announcement by Finance Minister Nirmala Sitharaman for a comprehensive review of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers.
'That way you're not hostage just to US sort of exports to India.'
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
The Indian government defended the Waqf (Amendment) Act, 2025 in the Supreme Court, arguing that waqf, while an Islamic concept, is not an essential part of Islam. Solicitor General Tushar Mehta stated that waqf is essentially charity, which is recognized across religions, and cannot be considered a fundamental tenet of any faith. He also argued that the amended law addresses secular aspects of waqf and activities unrelated to Islam, and that "waqf by user" does not grant ownership of public land. Mehta highlighted the extensive consultations involved in the bill's creation, including feedback from various stakeholders. The hearing will continue on Thursday.
'The next decade will be even more transformative,' says Prime Minister Modi. 'We are moving from digital governance to global digital leadership.'
Opposing any move to set up a central madrassa board, Jamiat Ulema-i-Hind warned on Sunday that any attempt to meddle with traditional Islamic education system may lead to an "intense" backlash from the community.
'If our Budget allows, we may implement both measures -- making income up to Rs 10 lakh tax-free and introducing a 25 per cent slab for income between Rs 15 lakh and Rs 20 lakh.'
The Reserve Bank on Wednesday approved a Rs 2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year. The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
