Employees who benefit from rent-free accommodation should pay heed to these new regulations, especially if they are in the higher salary brackets.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Zohran Mamdani has been elected as the Mayor of New York City, becoming the first South Asian and Muslim to hold the position. He defeated Republican nominee Curtis Sliwa and former New York State Governor Andrew Cuomo.
The Himachal Pradesh High Court acquitted one convict and commuted the death sentence of two others to life imprisonment in the 2014 Yug Gupta murder case.
The revised draft of DTC has proposed some major changes for the taxpayers. However, the changes in the revised draft are far from being the bold changes envisaged in the earlier draft.
Hard-line Hurriyat Conference chairman Syed Ali Shah Geelani has asked Kashmiris to desist from allowing people from outside Jammu and Kashmir to stay with them as tenants.
The decision to improve the salary structure of officers at board level and below, along with supervisory staff, was taken at the Cabinet meeting presided over by Prime Minister Manmohan Singh.
After stiff resistance from its employees against a steep pay cut, National Aviation Company of India Ltd), which runs Air India, has come out with a fresh proposal to impose a 15-17 per cent cut on the total salary package.The total package includes basic salary, dearness allowance, house rent allowance and payments made under the productivity-linked incentive scheme . The cut, however, would not be applicable on 4000 employees.
rediffGURU T S Khurana answers readers' personal income tax queries
Surendra Hiranandani -- chairman and managing director, House of Hiranandani -- explains what ails India's housing sector and indicates the way forward.
According to a study, there are several misconceptions regarding income tax.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
'Even as the Supreme Court's anti-punitive demolition judgment nears its first anniversary, no formal contempt proceedings have been initiated either by the Supreme Court or any high court against officers or demolition squads who have acted in violation of it.'
Allowances and perks will be up to 50 per cent of revised basic pay. House rent allowance and retiral benefits are outside the basic pay limit. The report was presented to Heavy Industry Minister Santosh Mohan Dev by the Second Pay Revision Committee Chairman M Jagannadha Rao in New Delhi.
'One is not allowed to smoke on the sets of a Hollywood film even during a break.' 'When I asked an assistant to suggest some place where I could light a cigarette, he recommended the bad boys' corner -- where Jack Nicholson smoked.' 'However, I hesitated.' 'But when I was heading back to my chair after the shot, Jack Nicholson asked me if I wanted to join him for a smoke. We had a long conversation over cups of cappuccino.'
rediffGURU Yogendra Arora answers readers' personal income tax queries.
Our tax expert explains capital gains in response to our reader queries.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Form 16 contains details of salary income, deductions, and exemptions.
It depends on the city and the rental being paid.
Analysts at Bank of America Merill Lynch said that fears of inflation getting "generalised" are overdone, as only two sub-categories of fuel and light and housing (accounting for 22 per cent of the basket) have seen a price-rise above the headline 5.2 per cent.
