She had shown some cash and other assets as gifts from party men "given to her out of love and affection", an argument the department rejected.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
Your EPF isn't just a retirement pot. It's a financial safety net you can dip into for life's biggest needs. Here's how these one-time advances work and when to use them wisely.
The ruling party MLA from Vijayanagara suggested that the election guarantees have made it difficult to provide houses to the poor in the state.
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Tax Guru Anil Rego answers your personal income tax queries
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
The Enforcement Directorate on Friday questioned Karnataka Congress president D K Shivakumar in the National Herald money laundering case, officials said.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
While there has been no official statement related to the action, British government sources said they are 'closely monitoring reports of tax surveys conducted at the offices of the BBC in India'.
Various start-ups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.
The Enforcement Directorate on Friday detained Bahubali Shah, one of the owners of the leading Gujarati newspaper Gujarat Samachar, following a raid on their premises in Ahmedabad, sources said.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
To decide whether capital gains on surrender of call options are taxable
S&P Global Ratings on Wednesday said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
'The government is putting insurance in the same category as food, which is essential for life.' 'Now this is an opportunity for the sector to focus on the consumer.'
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII president Rajiv Memani said on Thursday.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
In a development that may encourage increased investment in commercial real estate, the Supreme Court on Thursday gave the industry relief by permitting input tax credit (ITC) on construction expenses for buildings meant to be leased. "If the construction of a building was essential for carrying out the activity of supplying services, such as renting or giving on lease or other transactions in respect of the building or a part thereof, which are covered by clauses (2) and (5) of Schedule II of the CGST (Central Goods and Services Tax) Act, the building could be held to be a plant," said Justice Abhay S Oka and Justice Sanjay Karol.
rediffGURU Samkit Maniar answers readers' personal income tax queries
The Monsoon session of Parliament concluded after facing disruptions and protests over the revision of electoral rolls in Bihar. Despite the disruptions, the government managed to pass key legislations.
The Enforcement Directorate (ED) has filed a money-laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan and her IT firm for receiving 'illegal payments' from a Kochi-based private firm, official sources said on Wednesday.
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
The Enforcement Directorate has questioned Yash Birla, Chairman of Yash Birla Group, in connection with certain overseas financial transactions, officials in the central agency said on Monday.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Don't solely focus on tax-saving alone.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
The Delhi high court on Friday dismissed petitions by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra against the income tax department's decision to transfer their assessments to the Central Circle, which is mandated to check tax evasion, instead of an ordinary assessment in a matter related to fugitive arms dealer Sanjay Bhandari.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
