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.
Since the actor was busy with the shooting of Malayalam film Pranayam at Rameswaram, the IT authorities asked him to come to Kochi to record his statement today.
In order to avoid late payment, interest and penalty know these things before filing income tax returns...
With filing possible only online, there is no scope for any error.
Three men in Aligarh, Uttar Pradesh, received income tax notices demanding crores of rupees despite earning meager salaries, highlighting the growing issue of identity theft in India. The victims, who earn between Rs 8,500 and Rs 15,000 per month, were shocked to receive notices for Rs 33.88 crore, Rs 3.87 crore, and Rs 7.79 crore respectively. The authorities believe that businesses have been conducting large-scale transactions using forged Aadhaar and PAN cards in the names of these individuals.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Forget the never-ending forms and the paperwork, be ready to pay your taxes at your nearest ATM
According to a report, while 121.1 million PAN card holders were there up to March 31, 2011, the number of tax returns filed were just 34.8 million during 2010-11.
Shares will be allocated across different institutional investors, including domestic mutual funds, other domestic institutions and FPIs.
The deadline for filing income tax returns is (July 31) fast approaching. While many may be filing returns through their chartered accountant, filing e-returns (electronic returns) is the fastest and more convenient.
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.
Unveiling the reform agenda for the Budget, Finance Minister P Chidambaram has said a comprehensive law would be prepared next year to overhaul the Income Tax Act.
Income Tax department on Monday began searches at the premises of FMCG company Vicco Laboratories in Mumbai, Nagpur and Goa for alleged tax evasion.
10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
Citron, a brand under Stellantis, anticipates that three-fourths of its sales in India will originate from Tier-II, Tier-III, and smaller cities within the next five years, a significant increase from its current 55 per cent, as it expands its retail network beyond major urban centres.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
The Reserve Bank of India (RBI) net bought $561 million in June, marking its first net purchase since February, following three consecutive months of net sales. This move coincided with a series of government and RBI measures to attract foreign capital, leading to a 0.36 per cent appreciation of the rupee against the dollar.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The tax treatment of equity savings funds makes them appealing, especially to investors in higher income-tax brackets.
rediffGURU T S Khurana answers readers' personal income tax queries
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .
Police in Dahod, Gujarat, seized over Rs 2.56 crore in unaccounted cash from a car during a routine vehicle check. The cash was being transported from a courier firm to Vadodara, and the driver could not provide documentation for the money's source.
Knowledge of the income tax laws is indispensable. There may be tax deductions available that you may not be aware of.
Accel's early investment in RentoMojo, a furniture and appliance rental platform, has paid off handsomely with the company's strong debut on the stock exchanges, listing nearly 19 per cent above its issue price after a significantly oversubscribed IPO.
A new comprehensive Income Tax bill will be drawn up by the next fiscal end to clean up complex and archaic laws, Finance Minister P Chidambaram said on Friday.
People with more than Rs 10 lakh (Rs 1 million) annual income may not get the tax relief originally proposed in the Direct Taxes Code, as the finance ministry is for tweaking slabs across the board to offset concessions elsewhere.
Rural commercial vehicle (CV) registrations have consistently outpaced urban sales from April to July 2026, driven by a significant diversification of the rural economy and the positive impact of GST-led consumption, according to experts and data from Fada.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
TIOL has come to know that in a path-breaking judicial decision, the Commissioner of Income Tax (Appeals) handling international taxation cases in Delhi has held that the Gracemac Corporation, a 100% subsidiary of Microsoft which had in 1999 granted proprietary and ownership right in license and in intellectual property of Microsoft software and hardware products, is liable to pay income tax on its gross royalty income earned out of licensing of software to Indian customers.
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
A fire broke out on the sixth floor of the IncomeTaxBuilding in Marine Lines area in south Mumbai tonight but there were no report of casualties.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
I-T dept plans a different set of parameters to identify more people not paying dues properly.
Infosys, India's second-largest IT services firm, has appointed company veteran Ashiss Kumar Dash as CEO designate, with the leadership transition scheduled for April 1, 2027, after current CEO Salil Parekh completes his second term.
