rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
Information technology major Tata Consultancy Services (TCS) on Friday termed the tax demand notices received by several of its employees a "discrepancy," and the tax department will be reprocessing the returns. "We understand that the tax authorities will be reprocessing the returns, post which TDS shall be in sync with Form 26AS issued by the Income Tax Department, and Form 16 Part A issued by TCS. Associates that received the notice will receive a rectification intimation in due course and are not required to pay any demand amount.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
'Inflation is not good for industry. Nor for the economy as a whole.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
If not, an assessee might be charged interest for not paying TDS on time.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Failure to disclose any income can lead to penalties and legal issues.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
'Not a single bullet was fired, but we were warning the enemy not to continue with their antics!' IAF Veteran Air Commodore Nitin Sathe finds out how the Light Combat Helicopter, which will be inducted into the IAF on October 3, was designed, developed and flown.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Have you planned to file your income tax return? But, did you check Form 26AS before tax filing? If you haven't verified it, you could be looking at trouble
Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
BJP MP Kirti Azad on Sunday alleged that lots of companies were given crores of rupees by the DDCA and contracts were given out to fraud companies without any verification.
The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
Tax Guru Anil Rego answers your personal income tax queries.
Because they can easily find them out by analysing your financial transactions.
The abolition of wealth tax is again a welcome step.
While experts pointed out the impact of corporation tax cuts cannot yet figure in collections as most companies are yet to decide on their choice, government officials said a part reason for slow collection is the tax cut.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year, led by better indirect tax mop-up, compliance measures, and recovery in most sectors following the second wave of the Covid pandemic. Personal income and corporate tax collections (net of refunds) grew 74 per cent to Rs 5.70 trillion in the first half of the current financial year, driven mainly by advance tax and TDS payments. The target for the current fiscal year is Rs 11.08 trillion; higher taxes are paid usually towards the end of a fiscal year.
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