rediffGURU Yogendra Arora answers readers' personal income tax queries.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
Surprised? Don't be for you still have time till March 31, 2014 to file your income tax return for the financial year 2012-13.
If not, an assessee might be charged interest for not paying TDS on time.
A new poll indicates that President Donald Trump's approval rating is suffering as economic anxieties and the rising cost of living weigh heavily on US voters, revealing deep political divides and widespread dissatisfaction with the government.
The Congress in Karnataka on Tuesday claimed that Chief Minister B S Yeddyurappa and his family have evaded income tax to the tune of Rs 339.54 crore and demanded that the Centre institute a probe into it.
The country's primary capital markets delivered a robust performance in FY26, emerging as a global leader in initial public offerings (IPOs) despite an uncertain environment, the Economic Survey said on Thursday.
Zero-coupon bonds suit investors with long-term goals such as retirement or education planning.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
A nationwide strike called by central trade unions saw a mixed response across India, impacting various sectors and states differently, with some areas experiencing disruptions while others remained largely unaffected.
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
Cognizant reported a significant increase in net income for the December quarter, driven by AI efficiencies and strong performance in the financial services sector. The company also announced a major deal and provided guidance for the upcoming year.
Chaitanya Baghel, son of Congress leader Bhupesh Baghel, was released from jail after being granted bail in cases related to the alleged liquor scam in Chhattisgarh. The release was met with celebration by Congress supporters.
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
What are the tax implications when you invest in real estate or any immovable property? Read on to find out.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
The Income Tax department on Friday said it has made available the excel utility for ITR-1 and ITR-4 for AY 2025-26, which will enable taxpayers to file their income tax returns. "The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers," the Income Tax department said in a post on X.
ITRs with zero tax liability have increased to 55.7 million in FY25.
If saving taxes is a cause for concern, filing tax returns is an equally worrying thing for most taxpayers. Thanks to the complex system of tax filing, with its various forms and exclusions that invariably change every financial year, taxpayers are left in the lurch! Here's a simple ready reckoner that takes you through the steps to file tax.
Companies may foot less of the tax bill for some time yet. The corporate share of net direct tax collections has been lower in 2024-25 than in previous years. The corporate segment accounted for 45.6 per cent of total net direct tax collections as of March 16, compared to 48.1 per cent on the same date in 2023-24 (FY24).
Net direct tax collection grew 13.13 per cent to over Rs 21.26 lakh crore so far this fiscal aided by by higher advance tax mop up, government data showed on Monday. During the year, the government collected Rs 10.44 lakh crore from four instalments of advance tax as against Rs 9.11 lakh crore in the previous fiscal, registering a growth of 14.62 per cent.
The reason is because there aren't any screens for a large mass of Indians.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
The Centre is considering amendments to the Recovery of Debt and Bankruptcy Act in the Budget to allow some Debt Recovery Tribunals to focus only on high-value cases.
rediffGURU T S Khurana answers readers' personal income tax queries
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead.
Taxpayers often get confused regarding how to file their income tax return with multiple Form 16s. Here's some help.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
The Supreme Court of India has struck down key provisions of the 2021 Tribunals Reforms law, citing violations of separation of powers and judicial independence. The court restored earlier directions on tenure for tribunal members.
'For those in for the long haul, this is a God-given opportunity.' 'Your market is falling despite strong fundamentals, and such a clear roadmap has been announced.'
West Bengal Chief Minister Mamata Banerjee on Thursday dramatically turned up at the residence of Indian Political Action Committee (I-PAC) chief Pratik Jain amid an ongoing Enforcement Directorate raid, alleging that the central agency was attempting to seize the Trinamool Congress's internal documents, hard disks and sensitive data linked to its election strategy.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
Passenger vehicle dispatches from companies to dealers raced to the highest ever sales mark in a calendar year in 2025 as a reduction in prices due to GST reforms led to robust sales in the festive season, industry body SIAM said on Tuesday.
'LIC will reduce but not fully exit its stake in IDBI Bank, which remains an important bancassurance partner,' says LIC of India' MD and CEO R Doraiswamy.
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
The Supreme Court's verdict directing Tiger Global to pay capital gains tax on its 2018 sale of Flipkart shares is unlikely to accelerate the selloff by foreign portfolio investors (FPIs). However, legal and tax experts say the ruling sharpens scrutiny around treaty benefits and could influence how offshore investors structure future India bets.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
Net direct tax collection so far this fiscal stood at Rs 4.59 lakh crore, 1.39 per cent lower compared to the mop-up during the corresponding period of last fiscal, as advance tax collections slowed, government data showed. Advance tax collection during April 1-June 19, 2025 grew a meagre 3.87 per cent to Rs 1.56 lakh crore.
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