'The robust tax collections give the finance minister a fair amount of headroom for an expansionary fiscal policy.'
Officials said the oil marketing companies had provided data to the Income Tax department.
The Gandhis and senior Congress leader Oscar Fernandes have challenged the Delhi high court's September 10 verdict by which their plea against the re-opening of their tax assessments for 2011-12 was dismissed.
Clarifying on reports that it cannot scrutinise tax returns of political parties, CBDT said: "There are enough provisions in the Income Tax Act to scrutinise the accounts of the political parties and these political parties are also subject to other provisions of income tax including filing of return."
Karnataka energy minister Shivkumar was in-charge of hospitality for all Congress Gujarat MLAs.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
They were called to the special cell office in the afternoon and questioned till late evening, a Delhi police source said.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on facilitating tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, under which date of transfer and mode of payment will have to be specified. From July 1, TDS of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the income tax (I-T) Act. The department has explained different scenarios through six questions to remove difficulties.
Yadav further accused the BJP of "using distractions" to avoid addressing real issues such as rising unemployment, inflation, lack of investment in Uttar Pradesh, and failing healthcare facilities.
Karnataka Congress president D K Shivakumar on Monday appeared before the Enforcement Directorate in Delhi for a fresh round of questioning in the National Herald money laundering case.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
The sources said questioning revolved around accounts of IDS Tunisia and remittances received by it.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
The grandfathering clause and set-off provisions can be used to reduce the tax payable on sale of bonus shares, says Arvind A Rao.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
'The economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
The reimbursement components of your salary require you to furnish bills before they become tax-exempt. Producing them may be difficult this year.
Kailash Gahlot, a key minister in the Aam Aadmi Party (AAP) government in Delhi, has resigned, potentially impacting the party's ambitious plan to roll out a Rs 1000 monthly honorarium scheme for women ahead of the Assembly polls in February. Gahlot, who represented the Jat-dominated Najafgarh constituency in West Delhi, cited several issues, including the "Sheeshmahal" controversy over his former official residence, the Delhi government's tussle with the Centre, and the failure to clean the Yamuna River, in his resignation letter. Delhi BJP leaders welcomed Gahlot's resignation, fueling speculation that he could join the party before the assembly polls. However, AAP leaders claimed Gahlot resigned due to pressure from central agencies, including the Enforcement Directorate, and that joining the BJP was his last option. Gahlot's resignation has sparked speculation about his future and the impact it will have on the AAP's electoral prospects.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
The agency had in October arrested Sameer Vishnoi, an IAS officer of the state, and two others, after conducting several raids in the case.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The 75-year-old Congress president, who was supposed to depose before the agency on Thursday, wrote a letter seeking more time on the grounds that the doctors had 'strictly advised her to rest at home following her hospitalisation on account of Covid and lung infection'.
The federal agency wants to question and record Parab's statement under the Prevention of Money Laundering Act, they said.
The Badrinath-Kedarnath Temple Committee on Wednesday dismissed Jyotirmath Shankaracharya Swami Avimukteshwaranand's allegations that 228 kg gold bought for lining the Kedarnath temple's internal walls is missing, and asked him to approach authorities if he had any evidence.
'There is a huge tax differential of 15% to 20% depending on income classification.'
The government has proposed that political parties cannot be designated public authorities as defined in the RTI Act. Anita Katyal reports
Aditya Birla Management Corporation has received cash from certain group companies through hawala operators in Delhi, say investigators
Maharashtra Chief Minister Eknath Shinde on Wednesday claimed that the protest at Badlapur in Thane district over the alleged sexual abuse of two kindergarten girls was politically motivated and aimed at maligning the state government.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
Officials said the three were arrested on Monday under provisions of the Prevention of Money Laundering Act after they were called for questioning by the ED in Chennai.
A relatively muted tax filing growth will create further headwinds in an already stressed fiscal space, the report said, adding the commitment of cash transfers in the budget can take the fiscal math on a "slippery slope" unless there is expenditure rationalisation.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
