A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
rediffGURU T S Khurana answers readers' personal income tax queries
The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
The Income Tax Department has slapped a penalty of Rs 944.20 crore on IndiGo, which said it will contest the order that is "erroneous and frivolous". The order was received by InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Saturday.
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.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X.
Former chief secretary Vinit Chowdhary has criticised Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu over his handling of graft allegations in the Chester Hill housing project.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Prepare your replies with expert help, if necessary. Keep relevant documents ready to support your replies.
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
rediffGURU T S Khurana answers readers' personal income tax queries
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
If you receive an email claiming to be from the income tax department that there's an outstanding tax demand that you need to pay immediately, don't get alarmed. Get cautious.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
We take the opportunity to bust a few myths
The Income Tax Department will now process and send refunds in a short time of 7-10 days
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Net direct tax collection grew 18.3 per cent to about Rs 11.25 lakh crore as of October 10 this fiscal, government data showed on Friday. The mop-up includes personal income tax collection of Rs 5.98 lakh crore and corporate tax collection of Rs 4.94 lakh crore.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
Non-profit organisations set up for charitable purposes may see a tightening of income tax provisions.
The tax department has created many circular traps -- flawed reporting formats, penalties for those who point out the flaws, and faceless assessors with no accountability. The result: Millions of taxpayers face needless harassment and procedural dead ends, highlights Harsh Roongta.
After social media outrage over a Budget proposal making it mandatory to get tax clearance certificates for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The finance ministry, in the Finance Bill, 2024, has proposed to add the reference of the Black Money Act, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate.
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction, compliance reduction, and obsolete provisions. Pursuant to the Budget announcement by Finance Minister Nirmala Sitharaman for a comprehensive review of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers.
This time, the linking of the Aadhaar number with of a taxpayer has been made mandatory for filing of an ITR, beginning July 1.
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11.
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
Sleuths from the department swooped down on seven locations across Mumbai city, including Jeetendra and daughter Ekta's residences.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances