The Income Tax authorities have left the offices of the BBC in New Delhi and Mumbai after three days of lengthy questioning of some of its staff, the United Kingdom-headquartered public broadcaster said on Thursday.
Finance Minister Nirmala Sitharaman on Sunday proposed to exempt Minimum Alternate Tax (MAT) for non-residents who pay tax on presumptive basis.
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
Personal income tax as a percentage of GDP has gone up from 2.11 per cent in 2014-15 to 2.94 per cent in 2021-22 fiscal, indicating that taxpayer base is widening as a result of the steps taken by the present government led by Prime Minister Narendra Modi.
The income tax department's marathon "surveys" at BBC's offices ended on Thursday, after clocking over 58 hours in total, as officials prepared an inventory of financial data from select staffers and collected digital and paper data.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
CA Sumeet Mehta analyses the Union Budget 2026-2027, identifying key positives and negatives.
The government had in May extended the date for filing ITR for FY2019-20 from July 31 to November 30, to give compliance relief to taxpayers.
A new poll indicates that President Donald Trump's approval rating is suffering as economic anxieties and the rising cost of living weigh heavily on US voters, revealing deep political divides and widespread dissatisfaction with the government.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Filing a belated return is far better than not filing at all.
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
Cooperatives have demanded the abolishment of income tax on theirs as well as the state cooperative banks' earnings failing which they would resort to agitations across the country.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Denying any delay in the introduction of Income Tax Code that will comprehensively review current income rates and slabs, Finance Minister P Chidambaram on Thursday said the government will introduce the code this year.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
Filing your Income tax returns electronically through the internet is a simple, easy and convenient process.
Filing your Income tax returns electronically through the internet is a simple, easy and convenient process.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
Maharashtra Minister Sanjay Shirsat received an Income Tax notice regarding an increase in his assets between the 2019 and 2024 elections. He initially claimed MP Shrikant Shinde also received a notice but later retracted the statement.
The government earned Rs 7.42 lakh crore as direct taxes in 2015-16, a 66 per cent increase from Rs 4.45 lakh crore in 2010-11
They are not just underreporting income; they are reshaping what the income tax system perceives, says study.
According to a study, there are several misconceptions regarding income tax.
Atishi claimed the notice was sent to scare her, but "we have come from difficult fields to change politics of this country and we will not get intimidated by these hollow threats of the BJP".
I don't know who would want to celebrate the creation of the income tax, other than the tax officials themselves, says T N Ninan.
A grocery store owner in Bulandshahr alleges his PAN card was misused to set up six companies in Delhi after receiving an Income Tax notice for sales exceeding Rs 141 crore.
The government has shown its efforts in phasing out the four-and-a-half-decade old Income Tax Act of 1961 with a new and 'taxpayer friendly' Code. The Code is designed to provide stability to the tax regime and is based on the accepted principles of taxation and best international practices.
A speeding Lamborghini, allegedly driven by the son of a tobacco trader, injured at least six people in Kanpur after hitting pedestrians and two-wheelers.
Even if your only source of income is salary and the tax has been deducted at source, you need to file returns.
Global financial consultancy firm Ernst and Young wants the personal income tax slabs to be raised to a reasonable level as the lowest bracket "kicks in too early".
Supported by strong buoyancy in public sector capital expenditure (capex), growth in infrastructure investment is expected to accelerate in 2025-26 (FY26) compared to 2024-25 (FY25), according to the First Advance Estimates of gross domestic product (GDP) for FY26 released by the National Statistics Office (NSO) on Wednesday.
Zero-coupon bonds suit investors with long-term goals such as retirement or education planning.
A banker from Jaipur in Rajasthan tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
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