Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead.
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".
West Bengal Chief Minister Mamata Banerjee on Thursday dramatically turned up at the residence of Indian Political Action Committee (I-PAC) chief Pratik Jain amid an ongoing Enforcement Directorate raid, alleging that the central agency was attempting to seize the Trinamool Congress's internal documents, hard disks and sensitive data linked to its election strategy.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
According to a study, there are several misconceptions regarding income tax.
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.
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.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
Shares of Infosys surged nearly 4 per cent on Wednesday, a day before the opening of the tender window for its Rs 18,000-crore share repurchase programme. The buyback, which will see the company repurchase 100 million outstanding shares at Rs 1,800 each, will remain open until November 26.
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".
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.
CBDT has been given a collection target of Rs 5.69 trillion in personal income tax in the fiscal year 2019-20 - 19.2 per cent more than the Rs 4.77-crore collection in the previous year.
There are some countries where more than 50 per cent of the income goes to taxes.
Here we take a look at income tax rules governing income tax for the NRIs in India.
Although many European countries have high income taxes, they don't charge as much as India.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
'People become guided by emotions, fear of missing out, and greed. They tend to invest in booming sectors that may prove exceptionally expensive.' 'Typically, that represents the peak, and subsequently, they lose substantially.'
"Income tax revolution is going to take place. There is no limit to reforms in the income tax department and in the country as a whole," Central Board of Direct Taxes member B Swarup said in New Delhi.
The "huge mountain of debt" in developed economies and the risk of a possible unravelling is a matter of concern for India, Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw said on Wednesday, pointing to the recent spike in Japanese bond yields.
Choosing the right ITR form for your income tax return filing can be quite confusing. Investmentyogi simplifies the ITR forms and all the jargon associated with it. Keep it handy for your returns in 2010.
The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X.
Income tax authorities on Friday launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
The sanctioned strength of department is 57,793 while the working strength is 40,756; thus a shortfall of 29.47 per cent, the Minister of State for Finance S S Palanimanickam informed the Lok Sabha in a written reply.
Tax benefits can be claimed on both the principal and interest components of the home loan as per the Income Tax Act. These deductions are available to assesses, who have taken a loan to either buy or build a house.
The first step in tax saving through family tax planning is to adopt the concept of divide and rule. The simple rule is that each family member must have his or her independent source of income so as to legally become an independent tax payer under the provisions of the income tax law. Under the income tax law it is not possible to arbitrarily divide one's income amongst different members of the family - and then pay lower tax in the names of different family members.
The NSO previously tried to collect household income data in its ninth (1955), 15th (1959), 19th (1964), and 24th (1969) rounds (July 1969-June 1970), but these efforts were not completed, partly due to non-responsiveness by respondents.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The new Income Tax return forms are much simpler in many respects.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
The Indian Rice Exporter's Federation (IREF) on Tuesday urged the government to provide tax incentives, interest subvention and freight support in the upcoming 2026 Budget to strengthen the sector's competitiveness while addressing sustainability concerns.
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