News for 'Income Tax'

Need income tax clearance when selling land?

We must have just 2 rates of income tax

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.

10 things to know while filing income tax returns

In order to avoid late payment, interest and penalty know these things before filing income tax returns...

Tax Filing: Mistakes To Avoid

Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.

Income Tax officials search Mohanlal's residence

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.

Filing Income Tax returns gets more complicated

With filing possible only online, there is no scope for any error.

Shinde Sena minister Shirsat gets tax notice over asset jump

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.

Govt may not cut Income Tax rates due to fiscal stress

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.

Step-By-Step ITR E-Filing, Choosing Right Tax Regime

Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.

Alcoholic Beverages players identify new markets amid tax hiccups

Makers of spirits, beer, and wine are working to identify new markets of growth as two of the industry's biggest liquor markets, Maharashtra and Telangana, remain embroiled in taxation and payment issues.

Gulf War: Stocks That Tanked The Most

West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.

Now pay income tax through ATMs!

Forget the never-ending forms and the paperwork, be ready to pay your taxes at your nearest ATM

All you want to know about Income Tax

Check out this primer on Income Tax.

12 lakh high spenders under Income Tax lens

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.

'Am I On Track For Rs 8 Cr Retirement Fund?

Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.

Simple steps to e-filing income tax returns

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.

Budget 2026: Key numbers to be watched

Here are the key numbers to watch out for in the Union Budget for 2025-26:

Major changes in Income Tax Act soon

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 raid at Vicco Lab

Income Tax department on Monday began searches at the premises of FMCG company Vicco Laboratories in Mumbai, Nagpur and Goa for alleged tax evasion.

'How to claim income tax refund of a deceased person?'

Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.

Income tax: What to expect in the Budget

Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .

'High-risk remittance' data under Income Tax lens

The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not

Income tax: What to expect in the Budget

Here are some of the things that we could expect form the Budget 2010 on personal income tax. . .

Income tax deductions that you must not miss

Knowledge of the income tax laws is indispensable. There may be tax deductions available that you may not be aware of.

Indian Shipyards Set for Significant Growth with Strong Naval Order Pipeline

India's three major listed shipyards - Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) - are poised for substantial growth, driven by a robust order pipeline from the Indian Navy and diversification into commercial and export markets.

Shocker! Govt may cut income tax relief

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.

New Income Tax Bill by next fiscal

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.

'How To Earn Maximum Monthly Income?'

Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.

Fire at Income Tax office in south Mumbai

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.

Inflated phone bill may invite income-tax notice

I-T dept plans a different set of parameters to identify more people not paying dues properly.

Licensing: Microsoft liable for income tax

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.

Budget 2026: What The Fiscal Numbers Show

The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.

8 things you probably don't know about Income-Tax

We take the opportunity to bust a few myths

NPS Changes: How to Use It Wisely

'Stay invested but progressively reduce risk. Beyond a point, the objective should shift from maximising returns to avoiding unpleasant surprises.'

6 common mistakes to avoid while filing income tax returns

With the online tax filing and automation of the tax process the number of mistakes made by taxpayers during filing of taxes have been reduced, but considering the importance of the information, a mistake or an error will be an invitation to trouble.

After 40 yrs, UP ministers to start paying income tax

Several politicians said they were not even aware of the provision in the UP Act.

Understand Form 16 before e-filing your income tax return

Here's a simple primer to what actually Form 16 is and what must be done with it.

8 ways filing income tax return is different this year

With the new tax slabs applicable for income earned during Financial Year 2014-15 and host of new changes in income tax returns and filing norms, this e-filing season will certainly bring in a new experience for taxpayers. Here's how

Income tax dept to mail TDS details

According to official sources, complaints were received by the department that TDS was being collected arbitrarily by the payers. Another reason for this decision is that refunds from the department have also gone up. Sources said it should not affect the assessee who may be paying a high rate of TDS and is not compensated even after the employer or broking firm or any other organisation gets a refund on higher rate of TDS which may not be applicable to such income.

UP shopkeeper stunned by Rs 141 crore tax notice

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.