Non-profit organisations set up for charitable purposes may see a tightening of income tax provisions.
Washington Governor Bob Ferguson declared a statewide state of emergency and burn ban Saturday morning as an unprecedented wildfire crisis gripped the region, with active blazes scorching nearly 3,000 acres.
Maruti Suzuki India (MSIL) reported a mixed Q1 FY27, with record quarterly sales driving strong revenue growth, but operating performance was below expectations due to higher commodity and other costs impacting margins. Brokerages anticipate sustained sales growth for the company in the current fiscal year, supported by new launches, robust demand, and significant capacity expansion.
Government Railway Police (GRP) recovered Rs 1.75 crore in cash from two passengers on the Akal Takht Express at Pandit Deendayal Upadhyay Railway Station in Chandauli district, Uttar Pradesh. The passengers, residents of Lucknow, claimed the money was related to their diamond and jewellery business, but police are investigating further.
The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts.
In a major relief to tax payers, the Union Budget for 2005-06 on Monday altered income tax brackets.
The Union Cabinet dropped the condition laid by previous government to exempt income tax payers from Haj subsidy.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
The National Stock Exchange (NSE) is reportedly planning to launch its much-anticipated initial public offering (IPO), estimated at around Rs 30,000 crore, in September, potentially valuing the exchange at over Rs 5 lakh crore.
We attempt to demystify for the salaried class the two main ITR forms applicable in their case, i.e. Forms ITR-1 and ITR-2.
India's Code on Wages mandates strict payout deadlines, two-day full and final settlements, universal wage coverage and capped deductions to safeguard employees and enhance payroll transparency nationwide.
If you are a salaried person, you will be filing your returns using the new income tax return form, ITR. Do you think the ITR is simpler than Saral? Or are there drawbacks in the new ITRs? Tell us.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
Finance Minister Pranab Mukherjee is not in a mood to cut taxes but may continue with stimulus in the budget for 2011-12, feel industry representatives who met him for Pre-Budget interactions.
...exceeding their 49,340 crore equity selloff.
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.
Algo strategies must be registered with stock exchanges.
CPI(M) workers clashed with security personnel outside former Chief Minister Pinarayi Vijayan's residence in Kerala during Enforcement Directorate (ED) searches related to the alleged CMRL monthly payment case involving his daughter.
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of a money laundering probe linked to the CMRL case involving his daughter, Veena Vijayan.
The peak rate of 30% applies on annual income of individuals above Rs 10 lakhs.
Read all account documents, ask questions, and conduct basic due diligence before agreeing to become a joint holder.
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.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
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.
The income tax department will allow people to file 'belated return' until December 31.
Bharti Airtel, India's second-largest telecom operator, reported a 37.3 per cent rise in consolidated net profit to 8,167 crore for Q1 FY27, driven by the addition of high-paying premium customers, despite missing Bloomberg consensus estimates.
Traders were producing fake purchase and sale billing receipts and also availing multiple loans on one consignment.
Join Anil Rego for an online chat between 2 pm and 3 pm on Friday, July 8, 2016.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
The Income Tax department on Friday moved the Delhi High Court seeking "directions/clarifications" of the December 12 order by which the assets of mobile phone handset maker Nokia in India were defreezed.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
TVK chief Vijay, a candidate in the Tamil Nadu Assembly elections, has filed a revised election affidavit disclosing two pending FIRs, addressing discrepancies in his initial filing.
The government appears serious about its intent to do away with the sore points in the taxation laws.
Sleuths from the department swooped down on seven locations across Mumbai city, including Jeetendra and daughter Ekta's residences.
Most important thing to know is even if you do not have taxable income you may still have to file your income tax return.
CBDT is the apex policy making body of the IT department.
