Cognizant reported a significant increase in net income for the December quarter, driven by AI efficiencies and strong performance in the financial services sector. The company also announced a major deal and provided guidance for the upcoming year.
Finance Minister Pranab Mukherjee wants the income tax forms to be simple so that a taxpayer can understand his liability without consulting experts or chartered accountants.
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
The government on Thursday extended the deadline till December 31 for filing of income tax returns by individuals for the financial year 2021, amid the coronavirus pandemic and technical glitches in the IT portal. Earlier, the deadline was extended to September 30, 2021. Usually, the last date for filing the ITR (Income Tax Returns) for the individual taxpayers is July 31. "On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961, Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22," the finance ministry said in a statement.
The country's primary capital markets delivered a robust performance in FY26, emerging as a global leader in initial public offerings (IPOs) despite an uncertain environment, the Economic Survey said on Thursday.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Finance Minister Pranab Mukherjee has revised the Income Tax rates.
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 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.
Many people invest in insurance with a view to saving taxes. So what are the tax rebates available to an individual in respect of premium paid on life insurance policies?
Those conducting their businesses predominantly in cash and evading income tax have reasons to worry.
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.
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.
'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.'
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.
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 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.
They are not just underreporting income; they are reshaping what the income tax system perceives, says study.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
The Centre is considering amendments to the Recovery of Debt and Bankruptcy Act in the Budget to allow some Debt Recovery Tribunals to focus only on high-value cases.
The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
'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 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.
The petition points out that Shami's annual income, as disclosed in his Income Tax Return for 2021-22, stood at nearly Rs 48 crore, while she has been forced to live in "downtrodden conditions", struggling to meet even basic expenses.
Chaitanya Baghel, son of Congress leader Bhupesh Baghel, was released from jail after being granted bail in cases related to the alleged liquor scam in Chhattisgarh. The release was met with celebration by Congress supporters.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
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.
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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).
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.
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.
The Supreme Court's verdict directing Tiger Global to pay capital gains tax on its 2018 sale of Flipkart shares is unlikely to accelerate the selloff by foreign portfolio investors (FPIs). However, legal and tax experts say the ruling sharpens scrutiny around treaty benefits and could influence how offshore investors structure future India bets.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
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
Passenger vehicle dispatches from companies to dealers raced to the highest ever sales mark in a calendar year in 2025 as a reduction in prices due to GST reforms led to robust sales in the festive season, industry body SIAM said on Tuesday.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
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