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.
Tightening its noose around Canada-based 'designated individual terrorist' Gurpatwant Singh Pannu, the National Investigation Agency (NIA) confiscated a house and land of the self-styled general counsel of the outlawed Sikhs for Justice (SFJ) outfit in Punjab's Amritsar and the Union Territory of Chandigarh on Saturday, an official said.
With the rise of ultra-luxury housing in India comes ultra-customised marketing. Developers selling high-end homes, priced above Rs 20 crore, are moving away from traditional marketing for these homes to newer methods, such as painstaking profiling of customers before showing them the property, augmented reality for visualisation of interior decor, virtual tours, and closed-door international shows. There is also marketing through online ads, social media influencers, and exclusive memberships.
Former Congress MP Sajjan Kumar now faces a maximum of death penalty and a minimum of life term in prison after being convicted on Wednesday by a Delhi court in a murder case stemming from 1984 anti-Sikh riots.
Two men arrested for firing outside Bollywood superstar Salman Khan's residence in Mumbai had conducted a survey of his farm house at Panvel in adjoining Raigad district four days before the shooting incident, police said on Thursday.
'But I don't think the government is in a great hurry to sign the BTA.'
In response to escalating crime rates in Delhi, including extortion attempts and gang-related violence, the Delhi Police has launched a comprehensive crackdown. This includes stringent checks at hotels and guest houses to verify the identities of guests, as well as verification of local criminals and juveniles. The police have also intensified raids on suspected hideouts of jailed gangsters and their associates. This initiative is being implemented across all 15 police districts and over 180 police stations in Delhi. The decision stems from recent incidents involving out-of-state criminals who used hotels as bases for their criminal activities, highlighting the urgency of proactive measures to curb crime.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
A 20-year-old man in Delhi has been arrested for allegedly stabbing his parents and sister to death on their 27th wedding anniversary. The suspect, Arjun, reportedly confessed to the crime, stating he was angered by his parents' preference for his sister and their decision to give her the family property. Police are investigating the incident and have collected evidence against Arjun, including injuries on his hands consistent with the attack. There were no signs of forced entry, and the murder is believed to have occurred within an hour.
'The final arrangement within our family was documented in our amended family agreement dated March 31, 2017. We confirm that both of you have no right of any form in the other brother's business of assets.'
In a major shift from his earlier stance, United States-President elect Donald Trump has expressed his support for the H-1B visa programme and acknowledged frequently using it for his own properties, calling it a 'great programme', according to a report by New York Post.
The Supreme Court of India has issued pan-India guidelines on property demolition, emphasizing that no property should be demolished without a prior show cause notice and 15 days for the affected party to respond. The court strongly criticized 'bulldozer justice', stating that the Executive cannot demolish homes simply because individuals are accused of a crime. The verdict cites the importance of shelter as a fundamental right and highlights the unconstitutionality of demolishing houses based solely on accusations or convictions.
Here's how to own your dream home without paying excessive interest on your EMIs.
'They want to keep the pot boiling all the time.' 'The BJP wants to set a political narrative that the Gandhis are doing wrong things.'
A Delhi court has convicted former Congress MP Sajjan Kumar of murder in a 1984 anti-Sikh riots case. The court found that Kumar was part of an unlawful assembly that killed the victims and is guilty of the murders of Jaswant Singh and Tarundeep Singh. Kumar now faces a maximum of the death penalty and a minimum of life in prison. The court rejected Kumar's argument that the statement of the complainant couldn't be trusted, as she named him belatedly and held at the time of the incident she was not aware of the identity of the accused as she was admittedly new to the area and had never seen him earlier. The court also found the other residents of the locality were reluctant to come forward to aid the victims at the time of the incident, leading to the conclusion that they would also not support the victims' version in court.
A commando contingent of the Manipur police has been airlifted to Jiribam on Saturday morning from Imphal to assist in the security operations against the militants, police said.
Selling property below market value can lead to litigation. Tinesh Bhasin offers tips on how to avoid it.
Your high expectations and attachment to certain property can make you buy property which is not financially suitable.
'Habitat was viewed as the proxy for him and got unjustly targeted.'
Stand-up comedian Kunal Kamra has once again found himself at the center of a controversy, this time for his comments about Maharashtra's Deputy Chief Minister Eknath Shinde. Kamra has been a controversial figure for years, with his comedy often targeting politicians and other public figures. This latest incident has led to a backlash from Shinde's supporters, who have vandalized the venue of Kamra's show. Kamra has a history of making controversial remarks, including heckling a TV anchor on a flight and making comments about the judiciary.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Usually, the Income Tax Department notifies the ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old practice, it has notified two ITR forms ITR-1 and ITR-4 for the assessment year 2020-21 in the first week of January.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
A protester was killed in firing during a clash between security forces and a mob vandalising properties in Manipur's Jiribam district. The incident occurred late on Sunday night when agitators were protesting the killing of women and children abducted by militants. The deceased has been identified as K Athouba, who was in his twenties. The offices of the Congress and BJP, and a house belonging to Jiribam's Independent MLA were ransacked by a group of agitators. Meanwhile, an uneasy calm prevailed in Imphal Valley, where curfew remained enforced and internet services suspended after agitators vandalised and set ablaze properties belonging to several ministers and legislators.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The dead body of a 45-year-old unidentified man was delivered to a family in Yendagandi in West Godavari district of Andhra Pradesh, in a box with a demand for over Rs 1 crore claiming it to be the compounded amount of a loan taken years ago, police said on Friday.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Kudankulam will house the largest nuclear power plants in India and the flagship project of Russian-Indian technological and energy cooperation.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
In the coming days, more properties of the Sisamau MLA will be seized, they said.
rediffGURU T S Khurana answers readers' personal income tax queries.
The privileges enjoyed by MPs and MLAs are "tethered intrinsically" to the functioning of the legislature collectively, the Supreme Court said on Monday while holding that lawmakers taking bribe to vote or make a speech in the house are not immune from prosecution.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
President Droupadi Murmu addressed both Houses of Parliament, highlighting the government's achievements in various sectors, including economic growth, social welfare, and infrastructure development. She emphasized the government's efforts to lift the economy out of "policy paralysis" and create a more inclusive society. Murmu also acknowledged the challenges posed by digital fraud and cybercrime and stressed the need for a social infrastructure revolution. The President's speech is considered a policy statement, outlining the government's vision and roadmap for the future.
A division bench of Justices Vibhu Bakhru and Amit Mahajan set aside the single judge's December 24, 2019 order pegging the value of the property at Rs 130 crore.
As the Left government in Kerala gears up to inaugurate a cultural centre at Travancore House, in the heart of the national capital, on August 4, the Travancore royal family has moved the central government and various local bodies in Delhi with a request to halt the same.
In the remand report, the police said the accused went to Arjun's house, forcibly entered the premises, beat up the security staff, and damaged the property.
Observing that such demolition threats are inconceivable in a country where the law is supreme, the court said it cannot be oblivious to such actions that may be seen as "running a bulldozer over the laws of the land".
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
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