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.
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.
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.
'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.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Under the Income Tax Act (I-T Act), the income of a minor child is clubbed with that of one of his/her parent, whoever earns more.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
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.
The Enforcement Directorate on Friday questioned Karnataka Congress president D K Shivakumar in the National Herald money laundering case, officials said.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
Tax Guru Anil Rego answers your personal income tax queries
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'.
You don't need a six-figure salary to build wealth -- you need discipline and a smart plan, says Ramalingam Kalirajan. and shows you how
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
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.
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.
'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.'
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.
To decide whether capital gains on surrender of call options are taxable
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
rediffGURU Samkit Maniar answers readers' personal income tax queries
Targets should avoid panicking and hang up. 'Disconnecting stops the scammers from building psychological pressure.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
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.
When the market is down, you can buy more units, which offers you the rupee cost averaging. But the question here is, with so many options available in the market, which one should you choose? Keep reading to get the answer.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
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.
Don't solely focus on tax-saving alone.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
If gratuity is not paid within 30 days of termination, the employer must pay interest as set by the central government.
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.
