Although many European countries have high income taxes, they don't charge as much as India.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
The income tax department will allow people to file 'belated return' until December 31.
rediffGURU T S Khurana answers readers' personal income tax queries
A systematic withdrawal plan doesn't drain wealth, poor planning does. Ramalingam Kalirajan explains the truth behind systematic withdrawal plans
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
"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.
Congress chief Mallikarjun Kharge's remark calling Prime Minister Narendra Modi a 'terrorist' has triggered strong reactions from the BJP, who have demanded an apology from Congress leader Rahul Gandhi and Tamil Nadu Chief Minister M K Stalin.
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.
'In investing, poor sentiment is always a good vintage to build a portfolio.'
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
Godrej Consumer Products Ltd (GCPL) delivered a robust Q4FY26 performance, with steady demand in India and signs of stabilisation in international markets, despite persistent inflationary pressures. The company expects to maintain profitability in FY27 through strategic cost management and pricing adjustments.
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 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.
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
Former chief secretary Vinit Chowdhary has criticised Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu over his handling of graft allegations in the Chester Hill housing project.
The new Income Tax return forms are much simpler in many respects.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
Whether he comes to power or not, both his admirers and opponents agree on one thing -- Vijay may well turn out to be the 'X factor'.
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.
Rajya Sabha MP Raghav Chadha refutes allegations of inaction in Parliament, asserting his commitment to raising public issues and creating impact.
'What we are witnessing is a massive anti-incumbency wave that has cut across all social and political divides.'
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
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.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
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.
Hindustan Unilever (HUL) exceeded consensus estimates in Q4FY26, driven by lower overheads and 6 per cent consolidated volume growth. However, the company anticipates further price hikes to counter an expected 8-10 per cent material cost inflation, while maintaining a mid-term margin guidance of 22.5-23.5 per cent.
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 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.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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