'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-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.
Finance Minister Nirmala Sitharaman presented her eighth budget on Saturday.
Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings.
With gains of over 28 per cent, Hero MotoCorp has emerged as the best-performing largecap automotive stock over the past three months. The rally has been driven by an improved outlook for the rural segment, higher demand during the ongoing festival season, and rising affordability following cuts in goods and services tax (GST) rates.
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
'They are a poor fit for anyone with near-term goals, low volatility tolerance, or a need for steady income or liquidity.' 'First-time investors should typically avoid them.'
'Ek baar aap GST dekh lo!' - Prime Minister Narendra Modi's gentle nudge to Finance Minister Nirmala Sitharaman in December last year sparked the beginning of a mammoth exercise to overhaul the tangled goods and services tax regime. And the final outcome is a significantly simplified system with lower tax rates and easier compliance for businesses.
Women workers of the NDA in Bihar enforced a bandh to protest alleged abuse directed at PM Modi's mother during a Congress event. Protests were held across the state, with BJP leaders participating in sit-ins.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
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.
Conservative investors seeking equity-like tax benefits with low risk may go for them.
The Income Tax Department will now process and send refunds in a short time of 7-10 days
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
British broadcaster BBC has communicated to the income-tax department that some of its past income, for its operations in India, could have gone unreported during the statutory filing of returns and hence it would like to amend it, official sources said on Wednesday.
Assam Chief Minister Himanta Biswa Sarma says most of those present with singer Zubeen Garg in Singapore during his death have yet to respond to CID summons, and addresses related political accusations.
'Equities may not outperform every year, but if they do so seven times out of 10, it's an asset class worth relying on.'
What does this mean for you? Ramalingam Kalirajan explains.
'It takes time and the experience of a few market cycles to develop awareness about one's true risk appetite.'
The Indian Cricket Board (BCCI) paid a whopping Rs 50 crore as income tax for the year 2013-14, its monthly disclosure on spending has revealed. Giving details of spendings exceeding Rs 25 lakh on its official website, the BCCI also revealed that it paid service tax of Rs 2.74 crore. India's Under-19 and A team coach Rahul Dravid was paid half of his professional fees during the month gone by and the figure for that stood at Rs 1.30 crore. Besides, the Assam Cricket Association was paid Rs 3.37 crore as part of its annual dues for the year 2014-15.
Investors having a moderate-risk profile can use these funds in their retirement portfolios.
Income tax raids, killer games, village elections, criminal investigations, things are rather exciting on OTT this week, as Sukanya Verma notes.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
A court in Chennai on Tuesday adjourned to June 9 the income tax return cases against Tamil Nadu Chief Minister J Jayalalithaa and her aide Sasikala for their appearance.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
Lower rates effectively increase disposable income, strengthen purchasing capacity, and support broader consumption growth.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
Voters are weighing a stark trade-off -- between preserving a socially driven policy and reversing course to revive revenue, restore fiscal balance, and rein in the underground liquor economy.
Believe it or not, it's really not all that tough. All you need to do is to get a bit proactive and collect some important documents, something you would need to do anyway, even if you use the services of a professional.
The tax department conducts about 100-150 "full blown" searches and surveys in a financial year, and this enforcement action is not aimed towards the common taxpaying individual or entity.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
Net direct tax collection grew 19.54 per cent to over Rs 5.74 lakh crore so far this fiscal on higher advance tax payment by corporate. The first instalment of advance tax, which was due on June 15, rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs 1.14 lakh crore and Personal Income Tax (PIT) at Rs 34,470 crore.
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
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