Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
The Income-Tax (I-T) Department has detected widespread tax evasion involving cryptocurrencies and, according to media reports, has issued emails to thousands of defaulting taxpayers seeking transaction details. Investors must understand the tax rules governing crypto assets and respond promptly to these emails.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal, on higher advance tax payment by corporates.
'For those in for the long haul, this is a God-given opportunity.' 'Your market is falling despite strong fundamentals, and such a clear roadmap has been announced.'
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 hearing is not adversarial but inquisitorial in nature -- it allows Sebi to examine the context, the strategy, and the intent behind the trades, particularly when algorithmic and expiry-day trading are involved.'
'The AIADMK and DMK have 75% of the total votes. 25% of the voters do not support the two majors,' says DMK spokesperson Saravanan Annadurai.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
The tax department conducts about 100-150 "full blown" searches and surveys in a financial year, and this enforcement action is not aimed towards the common taxpaying individual or entity.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
Disclosing an individual's income-tax returns is tantamount to violating the person's fundamental right to privacy as recognised by the Constitution.
The Indian Rice Exporter's Federation (IREF) on Tuesday urged the government to provide tax incentives, interest subvention and freight support in the upcoming 2026 Budget to strengthen the sector's competitiveness while addressing sustainability concerns.
'If our Budget allows, we may implement both measures -- making income up to Rs 10 lakh tax-free and introducing a 25 per cent slab for income between Rs 15 lakh and Rs 20 lakh.'
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
In September last year, India received financial information from over 108 countries regarding foreign accounts and income in the form of interest and dividend earned outside India.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
Trade deals ease risks for Indian equities, but weak demand and stretched valuations raise questions over whether optimism -- especially in smallcaps -- can turn into a sustained bull run, points out Debashis Basu.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
After three straight quarters of decline, India's housing market is pinning hopes on the ongoing festival season to revive sales momentum. While 2025 may still end with sales volumes below 2024 levels, developers believe the seasonally strong October-December quarter could narrow the gap, aided by stable interest rates, festive incentives, and resilient demand in the premium segment.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
Showcasing India as an attractive investment destination, Modi said the country has political and economic stability as well as transparency and predictability in policy decisions.
About 82 per cent of the total income from unknown sources declared by national political parties in 2022-23 came from electoral bonds, according to a poll rights body.
'LIC will reduce but not fully exit its stake in IDBI Bank, which remains an important bancassurance partner,' says LIC of India' MD and CEO R Doraiswamy.
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
The Supreme Court is scheduled to hear a plea challenging the detention of climate activist Sonam Wangchuk under the National Security Act (NSA). The plea, filed by Wangchuk's wife, argues the detention is illegal and violates his fundamental rights.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The surprise action comes weeks after the broadcaster aired a two-part documentary on the 2002 Gujarat riots and India.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
India, the world's fourth largest economy, is set to maintain the 'goldilocks' phase with tailwinds of good growth, low inflation and robust banking performance as well as reform initiatives poised to sustain the economic pace witnessed during 2025.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
