Taxpayers often get confused regarding how to file their income tax return with multiple Form 16s. Here's some help.
After a year of modest returns, equity investors may anticipate gains of 10-15 per cent in Samvat 2082, which began on October 21. Although valuations have moderated from their peaks a year earlier, they remain above long-term averages, potentially limiting sharp upsides.
Deductions missed in Form 16 can still be claimed while filing ITR.
Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.
'The hearing is not adversarial but inquisitorial in nature -- it allows Sebi to examine the context, the strategy, and the intent behind the trades, particularly when algorithmic and expiry-day trading are involved.'
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
The BCCI has strengthened its coffers by Rs 14,627 crore over the past five years, including Rs 4,193 crore in the last financial year alone, taking its cash and bank balance to Rs 20,686 crore, according to a report.
Talking to reporters in New Delhi, Angmo challenged authorities to an open debate on the allegations, including those suggesting links to Pakistan, and said neither she has been able to contact Wangchuk nor has she been provided with formal documents detailing the charges against him by the administration.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
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.
Raju and nine others accused, including his two brothers, are currently on bail in a case related to fudging of Satyam accounts in 2009.
rediffGURU T S Khurana answers readers' personal income tax queries.
'Tax officials view most taxpayers as evaders.' 'The I-T department has a perverse incentive to raise unreasonable demands since the one-fifth tax collected counts towards officials' collection targets,' observes Harsh Roongta.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
The pending amount for current fiscal so far is Rs 68,032.21 crore.
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.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego and Mahesh Padmanabhan your I-T related questions.
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
UBS has turned bullish on emerging markets (EM), including India, as it finds benign macro trends, positive momentum in earnings revisions, and resilient EM currencies helping these economies sustain higher valuations and attracting flows. Among regions, it has upgraded Mainland China to 'attractive' and China Tech to 'most attractive', while downgrading Philippines to 'neutral'.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
The iconic Jawahar Lal Nehru Stadium in New Delhi will be "dismantled" to create a Sports City that will cater to all major disciplines and include lodging facility for athletes.
For every 100 rupees, households invested Rs 45.2 in mutual funds and equities in 2024-2025.
Coforge's planned $2.35 billion all-stock acquisition of US-based Encora has divided the Street, with a few brokerages terming it a "strategically positive" but execution-heavy bet while others raising valuation concerns.
'Any earnings, regardless of location, will be subject to Indian income tax.'
rediffGURU Anil Rego answers readers' personal income tax queries.
The passing of bills without Parliament, including the treasury benches, having any real understanding of what they contained through any rigorous process has accelerated through the Modi era, points out Aakar Patel.
The Enforcement Directorate (ED) has secured a 13-day custodial remand for Jawad Ahmed Siddiqui, chairperson of the Al Falah group, accused of generating over Rs 415 crore dishonestly from students. The ED claims Siddiqui has incentives to flee India as his family is settled in the Gulf.
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
What are the tax implications of investing in gold bonds issued by the State Bank of India? Is there any tax liability associated with investing in gold? Read on to find out.
The Income Tax Department will now process and send refunds in a short time of 7-10 days
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.
The government in FY26 Budget should announce an "effective" personal income tax cut to support consumption and demand, Barclays said on Thursday. In its FY25-26 Union Budget preview, Barclays said the key ask from the Budget, to be presented on February 1, is to support growth while adhering to fiscal consolidation path.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
RSS chief Mohan Bhagwat defended the organization's recognition and addressed concerns about respecting the Indian tricolour, responding to criticism from Congress leaders.
Make sure the rider adds value rather than just adding to cost.
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