BJP leader Subramanian Swamy on Sunday urged the Centre to do away with the system of collecting income tax and instead find out other means to raise money to the exchequer.
The income tax authorities on Thursday conducted raids at seven places in Mumbai, a senior official said.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
The duty, which is charged at the rate of 10 per cent, is payable in currency of the nation where the gold was bought.
The details that you file regarding your income, investments and tax exemptions are verified by the Income Tax department with the details obtained as per your Permanent Account Number records.
'The AIADMK and DMK have 75% of the total votes. 25% of the voters do not support the two majors,' says DMK spokesperson Saravanan Annadurai.
After Ministry of Corporate Affairs, the Income Tax department too has launched a probe to trace the source of funding of various firms that invested in Bharatiya Janata Party president Nitin Gadkari's company Purti Power and Sugar Limited.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said. The US president immediately dismissed the report as 'totally fake news'.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.
In a bid to make tax collection paperless and hassle-free, Centre will start E-refund of income tax from April, having put in place E-filing of tax deduction at source and tax information network.
Tax consultant Mahesh Padmanabhan throws light on six reasons why you must file your tax returns and then lists out the virtues of why you must not hide interest income earned while filing tax returns.
Here's a list of countries with no personal income tax.
A group to study simplification of laws relating to income tax has recommended removal of redundant provisions and use of simple language.
CA Sumeet Mehta analyses the Union Budget 2026-2027, identifying key positives and negatives.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
The Central Information Commission will seek a report from Income Tax department and Directorate of Estate regarding tax exemptions claimed by political parties and their assets to ascertain whether there is enough indirect funding from the government to bring them under the ambit of RTI Act.
The committee has been asked 'to study and identify the provisions.
The majority of investors fail to reach their financial goals, even if they started with a well-defined financial strategy. This isn't just about market volatility; it's a complex interaction of factors that include human psychology, inconsistent habits and lack of proper monitoring.
India is faced with a unique opportunity highest increase in working age (15-64) population over the next 20-30 years which can propel economic growth. India will account for 25 per cent of the global increase in workforce over the next 4 decades.
The majority of investors fail to reach their financial goals, even if they started with a well-defined financial strategy. This isn't just about market volatility; it's a complex interaction of factors that include human psychology, inconsistent habits and lack of proper monitoring.
Can't believe you can file your income tax return without Form 16? Read this...
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
The petition points out that Shami's annual income, as disclosed in his Income Tax Return for 2021-22, stood at nearly Rs 48 crore, while she has been forced to live in "downtrodden conditions", struggling to meet even basic expenses.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
'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.'
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Concerned over the high outstanding wealth tax and income tax, Finance Minister Jaswant Singh said as against a tax demand of over Rs 70,670 crore, the net collectable demand stood at only 35 per cent of the total amount.
rediffGURU T S Khurana answers readers' personal income tax queries.
Supported by strong buoyancy in public sector capital expenditure (capex), growth in infrastructure investment is expected to accelerate in 2025-26 (FY26) compared to 2024-25 (FY25), according to the First Advance Estimates of gross domestic product (GDP) for FY26 released by the National Statistics Office (NSO) on Wednesday.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
There are some solid reasons for acquiring a PAN card (if you don't have one) and filing your ITR within the due date, which is 31st July every year.
Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as part of their probe into alleged tax evasion.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
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