rediffGURU T S Khurana answers readers' personal income tax queries
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
The Clearing Corporation of India (CCIL) will be able to reapply for recognition by the European Union's (EU) financial markets regulator following a pact signed on Tuesday between the Reserve Bank of India (RBI) and the European Securities and Markets Authority (Esma).
Fears around artificial intelligence (AI) sparked a global selloff in information technology (IT) stocks, dragging down domestic software shares and prompting the heaviest foreign portfolio investor (FPI) outflows since the second half of July 2025.
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
Indian carriers have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.
Ecommerce (ecom) and quick commerce (qcom) platforms are expected to lead gig worker hiring in calendar year 2026 (CY26), adding nearly 1 million workers on the back of sustained demand for last-mile deliveries, higher order volumes, and continued expansion of dark stores into non-metropolitan cities, industry experts have said.
Karnataka Lokayukta police have registered a disproportionate assets case against Udupi Excise Deputy Commissioner T M Srinivas after searches at multiple locations allegedly revealed assets worth Rs 8.69 crore beyond his known sources of income.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
Investigations into the murder of an IRS officer's daughter in Delhi reveal the accused, Rahul Meena, had a history of aggressive behaviour and was addicted to online gaming, leading to significant debt. Police are conducting a psychological analysis to understand his mental state and motives, while his family claims he was a quiet person.
Investigations into the murder of an IRS officer's daughter in Delhi reveal the accused, Rahul Meena, had a history of aggressive behaviour and psychopathic tendencies. He was also addicted to online betting and had lost a significant amount of money.
Investigations into the murder of an IRS officer's daughter in Delhi reveal the accused, Rahul Meena, had a history of aggressive behaviour and psychopathic tendencies. Police are conducting a psychological analysis to understand his motives.
Indian Space Research Organisation is gearing up for one of its busiest times with seven more launches planned this financial year, even as India's first human spaceflight remains scheduled for 2027, its chairman V Narayanan said.
The Indian Defence Ministry has approved the procurement of weapons and military hardware worth Rs 2.38 crore, including S-400 missiles and medium transport aircraft, to bolster the Indian Air Force's capabilities.
'IndiGo abruptly cancelled our Kolkata-Purnea flight citing bad weather, despite clear conditions and another airline operating the same route, causing severe inconvenience.'
Meerut police have uncovered a Goods and Services Tax (GST) fraud involving crores of rupees, leading to the arrest of one individual. The investigation revealed a network of fake firms used to illegally claim input tax credits, causing significant losses to the government.
The Motor Accident Claims Tribunal (MACT) in Thane has awarded a compensation of 64.75 lakh to the family of a Pune-based businessman who died in a road accident in 2022.
Bajaj Finserv - the holding company of Bajaj group's financial services business - has laid out plans for the next five years. During this period, it is eyeing 18-22 per cent compound annual growth rate (CAGR) in net profit at Rs 21,000-24,000 crore on a consolidated basis.
Trinamool Congress leader Abhishek Banerjee is urging voters in Murshidabad to support the TMC to thwart the BJP's influence in West Bengal. He criticised the Congress and other parties, accusing them of indirectly supporting the BJP, and highlighted the TMC's commitment to protecting minority voters and preventing the implementation of NRC in Bengal.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
West Bengal Chief Minister Mamata Banerjee has accused the BJP of stoking fights among all sections of society and attempting to loot the country by exploiting these divisions. She also criticised the BJP's economic policies and alleged discrimination in welfare schemes.
Delhi Police have arrested a woman and her associate for allegedly running a honey-trap and extortion racket, targeting victims with false criminal cases to coerce monetary settlements.
The Indian defence ministry has initiated a project to indigenously design and develop a 1000-kg aerial bomb for the Indian Air Force (IAF), aiming to enhance self-reliance in the defence sector.
Companies are squeezing more profits from their operations relative to the capital they put to work, the highest now since 2011. Profit after tax relative to capital employed came in at 10.47 per cent in September, shows data from the Centre for Monitoring Indian Economy (CMIE), higher than the 8.41 per cent seen in September last year. This is the highest since March 2010.
Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
The Trinamool Congress (TMC) has released its manifesto for the West Bengal elections, focusing on welfare politics and women's empowerment with pledges to expand existing schemes, improve healthcare, and develop infrastructure.
Telangana police have dismantled a large network operating illegal mule bank accounts used for fraudulent financial transactions, arresting 13 suspects and uncovering transactions worth approximately Rs 138 crore.
Delhi Police have dismantled an organised interstate racket involved in manufacturing and distributing counterfeit life-saving medicines, arresting six individuals and seizing fake drugs worth approximately Rs 2 crore. The investigation also revealed a network of fake GST firms used for generating bogus invoices and laundering money.
Congress leader K C Venugopal has filed a defamation complaint against a Haryana-based man, alleging politically motivated accusations ahead of the Kerala Assembly elections.
The International Financial Services Centres Authority (IFSCA) has cleared a series of regulatory relaxations to ease operations for fund managers in GIFT City, along with a revamped framework for global in-house centres (GICs) and capital market intermediaries.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
India's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
Led by the country's biggest lender State Bank of India (SBI), public sector banks logged a record cumulative profit of Rs 52,603 crore in the third quarter of the current fiscal, reflecting an 18 per cent year-on-year growth.
India's passenger vehicle (PV) industry is projected to experience moderated growth in FY27, following a strong rebound in H2FY26, primarily due to the high base effect, absorbed pent-up demand, and the lingering impact of geopolitical tensions in West Asia.
The net liquidity surplus in the banking system fell to Rs 16,875 crore on Thursday the latest data by the Reserve Bank of India (RBI) showed, lowest since 22 January.
Several Indian families are in mourning after their sons, who travelled to Russia on study visas, were allegedly deceived into joining the Russian army and subsequently killed in the Russia-Ukraine conflict. The families are demanding answers and seeking assistance to bring their sons' bodies home.
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
Sebi is working with other regulators to expand the CAS framework.
