ITRs with zero tax liability have increased to 55.7 million in FY25.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Raju and nine others accused, including his two brothers, are currently on bail in a case related to fudging of Satyam accounts in 2009.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
From a modest salary to Rs 1 crore, here's Ramalingam Kalirajan's smart compounding blueprint for young earners
The pending amount for current fiscal so far is Rs 68,032.21 crore.
CA Sumeet Mehta analyses the Union Budget 2026-2027, identifying key positives and negatives.
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.
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
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.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Shares of Infosys surged nearly 4 per cent on Wednesday, a day before the opening of the tender window for its Rs 18,000-crore share repurchase programme. The buyback, which will see the company repurchase 100 million outstanding shares at Rs 1,800 each, will remain open until November 26.
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.
'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.
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).
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
rediffGURU T S Khurana answers readers' personal income tax queries
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.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
The Income Tax Department will now process and send refunds in a short time of 7-10 days
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
After social media outrage over a Budget proposal making it mandatory to get tax clearance certificates for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The finance ministry, in the Finance Bill, 2024, has proposed to add the reference of the Black Money Act, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate.
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.
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.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
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.
Tax experts answer your budget-related queries
rediffGURU Vivek Lala answers your income tax and personal finance queries.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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 AIADMK and DMK have 75% of the total votes. 25% of the voters do not support the two majors,' says DMK spokesperson Saravanan Annadurai.
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.
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction, compliance reduction, and obsolete provisions. Pursuant to the Budget announcement by Finance Minister Nirmala Sitharaman for a comprehensive review of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers.
