The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
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.
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.
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Monsoon session of Parliament saw the passage of several key bills in both the Lok Sabha and Rajya Sabha, despite repeated disruptions and adjournments.
Learn to track your ITR's progress and correct any errors.
Deductions missed in Form 16 can still be claimed while filing ITR.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
The reason is because there aren't any screens for a large mass of Indians.
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.
'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.'
The government on Wednesday said it would tax only 40 per cent of salary arrears to be paid to central government employees in the current fiscal on implementation of Sixth Pay Commission recommendations.
7 states account for over 80 per cent of the total direct tax collections by the Union government.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
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.
The declared incomes of registered unrecognised political parties witnessed a 223 per cent spike in 2022-23 and more than 73 per cent of these parties failed to publicly disclose their financial records, according to poll rights body the Association for Democratic Reforms (ADR).
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Net direct tax collection dipped 3.95 per cent to Rs 6.64 lakh crore so far this fiscal, mainly on account on higher refunds, according to government data released on Tuesday. Direct tax includes taxes on income paid by companies, individuals, and by professionals, and other entities.
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
'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.
rediffGURU T S Khurana answers readers' personal income tax queries.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
After a record-breaking year, India's automobile industry is entering 2026 on a relatively strong footing, with sales growth expected in the 6-8 per cent range. The outlook is underpinned by policy support, including GST rationalisation, easing monetary conditions, and income tax relief, which together are likely to improve affordability and sustain consumer demand across vehicle segments.
rediffGURU T S Khurana answers readers' personal income tax queries.
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
Understanding severance pay isn't just for those who are losing their jobs
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.
Clearing the way for oil refiners to pay Iran in Indian rupee, the Union Budget has exempted the payments made for crude oil purchased from the Persian Gulf nation, from any local tax.
The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1.
Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
The Delhi high court on Thursday rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
Finance Minister Nirmala Sitharaman presented her eighth budget on Saturday.
