The Maharashtra Anti-Terrorism Squad (ATS) is investigating a bogus religious trust in Beed that received funds from a controversial international organisation, Chief Minister Devendra Fadnavis announced.
Four Madhya Pradesh police officers have been suspended for allegedly accepting a bribe of Rs 20 lakh from a businessman in exchange for releasing Rs 1 crore found in his vehicle.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
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.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Police in Surat are investigating an alleged interstate hawala-linked political funding network involving Aam Aadmi Party (AAP) functionaries, with Rs 1.25 crore reportedly routed from Delhi to Surat ahead of Gujarat local body polls. The AAP has dismissed the claims as a conspiracy by the ruling BJP.
"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 post-mortem report of a senior IRS officer's daughter, who was murdered in her Delhi residence, reveals strangulation as the cause of death, along with multiple injuries indicating a struggle and assault. A former domestic help has been arrested in connection with the crime.
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.
Why would a country that requires close to $90 billion in net foreign capital annually to create jobs, build productive capacity, and sustain rapid growth permit $30 billion of capital to flow abroad, thereby contributing to pressure on the rupee? asks Debashis Basu.
The Maharashtra government sanctioned over Rs 1 crore for development works at a temple linked to Ashok Kharat, a self-styled godman accused of rape, in 2018. The funds were approved under the regional tourism development scheme. Kharat was arrested on March 18 after being accused of repeated rape.
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 company said Valcambi was the engine driving the group's business, but Valcambi's audited accounts showed revenues that were only a fraction of what the group reported. That raised a major red flag.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
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.
Amid the arithmetic of subsidies, consumption and capacity, whichever government assumes office in Tamil Nadu after May 4 is likely to inherit a growing debate over how far the state can continue to expand welfare promises without placing additional strain on public finances and the power sector.
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.
RIS Steady Life Cycle begins with an equity allocation of 35 per cent at age 60, which gradually reduces. Between ages 75 and 85, it remains constant at 10 per cent.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
LAMF allows investors to access liquidity while staying invested.
CPI(M) leaders have strongly criticised the ED raids on former Kerala CM Pinarayi Vijayan and others, alleging political motivation and a conspiracy by the BJP and Congress. They claim the raids are an attempt to intimidate the party and its leaders, and have vowed to fight back against what they see as a politically fabricated case.
The new Income Tax return forms are much simpler in many respects.
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.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
Immigrants' contribution to the US economy is disproportionate to their share of the population, meaning that losing them would shrink the economy even more than losing a random group of Americans, points out Sree Sreenivasan.
With the click of a mouse you could now check the status of your income tax refund online. The Income Tax department has introduced online availability of information regarding one's tax refund.
Congress leader Priyanka Gandhi Vadra has accused the CPI(M)-led LDF in Kerala of striking a secret deal with the BJP for the upcoming Assembly elections, alleging suppression of dissent and targeting of minorities by both the state and central governments.
You don't need to be intimidated by the thought of filing tax returns
Individuals now need to mention a unique transaction number against every tax deducted at source entry.
Income Tax Return forms in India are like the Golmaal series of movies. Every two years there is a new one.
Authorities have put forward a tax demand of Rs 2,080 crore.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
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.
The Reserve Bank of India (RBI) is anticipated to make its highest-ever dividend payment to the government this year, providing a significant fiscal boost to address challenges, including those stemming from the ongoing Middle East crisis.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
What items did Finance Minister Nirmala Sitharaman make costlier?
The new income tax returns form, ITR-1, is relatively simpler than Saral. Here is a lowdown on what salaried individuals will now have to cope with.
