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.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
In nation-wide raids on Wednesday, Income Tax sleuths swooped down on offices of Indian Premier League franchisees Kolkata Knight Riders, Chennai Super Kings, Deccan Chargers and Kings XI, and companies handling broadcast rights of the cash-rich cricket League.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
BCB removes its director Najmul Islam from key post after players revolt
We take the opportunity to bust a few myths
In a pre-Budget wishlist, Vinod Juneja, managing director, Braj Binani Group, said, "I expect the finance minister to target the GDP growth of at least 8% or higher for the next 3 financial years."
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
After a record-breaking year, India's automobile industry is entering 2026 on a relatively strong footing, with sales growth expected in the 6-8 per cent range. The outlook is underpinned by policy support, including GST rationalisation, easing monetary conditions, and income tax relief, which together are likely to improve affordability and sustain consumer demand across vehicle segments.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
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 European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
Understanding severance pay isn't just for those who are losing their jobs
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
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
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
The Enforcement Directorate (ED) has arrested Jawad Ahmed Siddiqui, chairperson of the Al Falah group, on money laundering charges. The ED alleges that Siddiqui generated Rs 415 crore dishonestly from students of educational institutions run by his Trust.
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.
Navjot Kaur Sidhu claims support within the Congress party after being suspended for her controversial remarks. She also accuses Sukhjinder Singh Randhawa of corruption and links to smugglers.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
After a year of modest returns, equity investors may anticipate gains of 10-15 per cent in Samvat 2082, which began on October 21. Although valuations have moderated from their peaks a year earlier, they remain above long-term averages, potentially limiting sharp upsides.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
The Enforcement Directorate (ED) has secured a 13-day custodial remand for Jawad Ahmed Siddiqui, chairperson of the Al Falah group, accused of generating over Rs 415 crore dishonestly from students. The ED claims Siddiqui has incentives to flee India as his family is settled in the Gulf.
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
It is always adivsable to file income tax returns on time.
Make sure the rider adds value rather than just adding to cost.
Talking to reporters in New Delhi, Angmo challenged authorities to an open debate on the allegations, including those suggesting links to Pakistan, and said neither she has been able to contact Wangchuk nor has she been provided with formal documents detailing the charges against him by the administration.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
After three straight quarters of decline, India's housing market is pinning hopes on the ongoing festival season to revive sales momentum. While 2025 may still end with sales volumes below 2024 levels, developers believe the seasonally strong October-December quarter could narrow the gap, aided by stable interest rates, festive incentives, and resilient demand in the premium segment.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea.
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