'Any earnings, regardless of location, will be subject to Indian income tax.'
'GST reduction will help larger and high-end cars too.'
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
India's 18 largest states, accounting for over 90 per cent of the country's gross state domestic product (GSDP), are likely to record a marginal uptick in revenue growth to 7-9 per cent this year, from 6.6 per cent clocked in 2024-25 (FY25), rating agency Crisil said in a report on Tuesday. This growth, slower than the decadal average of about 10 per cent, would lift these states' cumulative revenue to around Rs 40 trillion in FY26 from Rs 37.26 trillion in FY25.
rediffGURU Anil Rego answers readers' personal income tax queries.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
Aditya Birla Group's Hindalco Industries on Friday reported a 21.3 per cent year on year rise in its consolidated net profit to Rs 4,741 crore in the second quarter of 2025-26 (Q2FY26), driven by its Indian business and its US-based subsidiary, Novelis.
Taxpayers often get confused regarding how to file their income tax return with multiple Form 16s. Here's some help.
Income Tax department's online tool empowers you to verify any notice or order you receive. This free service is available to everyone, regardless of whether you're registered on the e-filing portal.
'Last year, we had about 10 to 12 per cent of Hollywood films as a box-office contribution. This year already, it has jumped up to 24 per cent because the lineup is very strong.'
rediffGURU T S Khurana answers readers' personal income tax queries.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
'...so cases that arose under the existing Act will be adjudicated under the old provisions.' 'Care has been taken to ensure that the new I-T Act does not give rise to interpretational issues.'
'Earnings growth will be the main driver of India's market in 2026, with profits expected to rise 9% to 10% in H2 FY26 and accelerate to 12% to 15% in FY27.'
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
The government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman said on Saturday. In another major reform move, the minister announced that the Foreign Direct Investment (FDI) in the insurance sector will be increased to 100 per cent from 74 per cent.
Multiple tailwinds for the automobile sector, including a cut in goods and services tax (GST) rates, are keeping analysts bullish on auto stocks from a long-term perspective, even as they see the rally running its course in the near term.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
AI isn't a magic wand. It works best when combined with good systems, informed investors, and skilled advisors, says Amit Suri.
Aadhaar-based e-KYC facility would allow individuals or entities wanting to apply for PAN to verify details such as date of birth or address by way of biometric identification using thumb impressions.
Since the Indian government reduced GST on small cars on September 22, the small car segment's share in Maruti's overall sales has risen to more than 25 per cent, up from 16.6 per cent earlier in FY26.
EMI means you've already spent tomorrow's income; SIP means you're investing today's income to secure tomorrow, explains Ramalingam Kalirajan
As on April 1, income tax arrears have increased to Rs 43 trillion from Rs 24 trillion on April 1, 2023.
Fast-moving consumer goods (FMCG) companies are expected to report mid-single-digit revenue growth in the July-September 2025-26 quarter, according to their quarterly updates. Most companies also noted that supply chains were focused on liquidating existing stock ahead of the implementation of new goods and services tax (GST) rates in categories where the tax was lowered.
Raju and nine others accused, including his two brothers, are currently on bail in a case related to fudging of Satyam accounts in 2009.
Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices "to facilitate completion of pending departmental work.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
The tax department has created many circular traps -- flawed reporting formats, penalties for those who point out the flaws, and faceless assessors with no accountability. The result: Millions of taxpayers face needless harassment and procedural dead ends, highlights Harsh Roongta.
The pending amount for current fiscal so far is Rs 68,032.21 crore.
The 13th-month persistency rate of life insurers - an important metric indicating the retention of new policies - declined in the first quarter of 2025-26 (Q1FY26). This fall was primarily driven by a lower share of high-value policies, following taxation changes implemented in April 2023.
rediffGURU T S Khurana answers readers' personal income tax queries.
As the Indian economic growth slowed to a nine-quarter low of 6.9 per cent in the second quarter of this financial year, Ficci has urged the finance ministry to provide more disposable income at the hands of the people by raising the personal income tax slab for the peak rate of 30 per cent in the next budget.
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