The government's capital expenditure in the April-November period of financial year 2024-25 (FY25) continued to contract with a 12.3 per cent decline year-on-year (Y-o-Y), according to data released by the Controller General of Accounts on Tuesday.
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
Ravi Singhal explains how a taxpayer can go about reducing her/his tax liability if they suffer losses while investing or trading in the stock market.
It is important to have the necessary documents on hand to verify the information in the form.
In a few months' time the taxman will coming knocking on your door.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
Zohram Kwame Mamdani would be the city's first Muslim and Indian American mayor if elected New York mayor this November.
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
The party has contested the reassessment proceedings, claiming they were barred by limitation.
Wednesday's joint protest march in Patna marked a significant moment, with Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, and Tejashwi Yadav, the Leader of Opposition in the Bihar assembly, leading a unified demonstration -- perhaps a first in the state's recent political history.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
Non-banking financial company (NBFC) Tata Capital is set to launch its much-anticipated $2 billion (Rs 17,200 crore) initial public offering (IPO) in the week beginning September 22, market sources familiar with the matter said on Sunday. The issue is expected to value the company around $11 billion, they added. Tata Capital is likely to make its stock market debut by September 30.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Apart from the many old rules, you need to be aware of a number of new ones to be able to claim your deductions well.
Vanuatu offers citizenship to people who are willing to invest $150,000 in the country.
The World Bank on Wednesday lowered India's growth forecast for the current fiscal by 4 percentage points to 6.3 per cent amid global economic weakness and policy uncertainty. In its previous estimate, the World Bank had projected India's growth at 6.7 per cent for the fiscal year 2025-26.
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
Seasoned bureaucrat and a stickler for rules Finance Secretary Tuhin Kanta Pandey will be at the helm of capital market regulator, Securities and Exchange Board of India (SEBI), for three years. The 1987-batch Odisha-cadre Indian Administrative Service (IAS) officer, Pandey, would replace Madhabi Puri Buch, whose three-year term ends on Friday.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
When the market is down, you can buy more units, which offers you the rupee cost averaging. But the question here is, with so many options available in the market, which one should you choose? Keep reading to get the answer.
Fuelled by rising disposable incomes and growing awareness about disciplined investing, monthly SIP inflows across the mutual fund industry could scale up to Rs 40,000 crore over the next 18-?24 months, according to Madhu Nair, CEO of Union Asset Management Company (AMC). SIP inflows stood at Rs 25,925 crore in March, although the industry has witnessed a declining trend over the past four months amid heightened market volatility triggered by frequent US tariff changes.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Income Tax department have released different tools to help you file your ITR-3 form easily.
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Arbitrage funds, the new favourite of individual investors, delivered their best performance in nearly a decade in 2024. On average, the schemes delivered 8 per cent return last year, the highest since 2016, according to data from Value Research. The returns were supported by positive equity market sentiments, surge in open interest in stock futures, high interest rate, among other factors, analysts said.
Systematic Withdrawal Plan, or SWP, can help you achieve your financial goals. Ramalingam Kalirajan's step-by-step guide on how to effectively use an SWP.
Since employers can't furnish Form 16 in the middle of the year, they give Tax Computation Statement.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The per capita income of Indians as gleaned from income-tax filing is expected to increase from Rs 2 lakh in FY23 to Rs 14.9 lakh in FY47, coinciding with 100 years of the country's Independence, according to SBI Research. In dollar terms it will increase from about $2,500 in FY23 to $12,400 in FY47. Soumya Kanti Ghosh, group chief economic adviser, State Bank of India, said the weighted mean income was Rs 4.4 lakh in AY14. That rose to Rs 13 lakh in FY23.
Currently, income between Rs 1.6-5 lakh (Rs 160,000-500,000)attracts 10 per cent tax; Rs 5-8 lakh (Rs 500,000-800,000)20 per cent and beyond Rs 8 lakh 30 per cent.
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