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.
Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
'...so cases that arose under the existing Act will be adjudicated under the old provisions.' 'Care has been taken to ensure that the new I-T Act does not give rise to interpretational issues.'
Fitch Ratings on Thursday raised India's GDP growth forecast for the current fiscal to 7.4 per cent, from 6.9 per cent, on increased consumer spending and improved sentiment boosted by GST reforms.
Amit Gupta examines the taxation of dividend-paying stocks, share buybacks, and bonus shares.
rediffGURU T S Khurana answers readers' personal income tax queries.
After three straight quarters of decline, India's housing market is pinning hopes on the ongoing festival season to revive sales momentum. While 2025 may still end with sales volumes below 2024 levels, developers believe the seasonally strong October-December quarter could narrow the gap, aided by stable interest rates, festive incentives, and resilient demand in the premium segment.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
About 82 per cent of the total income from unknown sources declared by national political parties in 2022-23 came from electoral bonds, according to a poll rights body.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
Taking both direct and indirect taxes, the gross collection is expected to grow 10.45 per cent to Rs 33.61 trillion in 2023-2024.
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.
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.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
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.
Unidentified men posing as central government officials intercepted a cash van in Bengaluru and allegedly fled with about Rs 7 crore. Police are investigating the incident and have formed teams to hunt for the suspects.
Startup and venture funds on Tuesday cheered the Budget decision on the abolition of angel tax for all investor classes, terming it a "game-changer" that would remove significant barriers in growth and foster a vibrant and dynamic ecosystem. Angel tax refers to the tax that the government imposes on funding raised by unlisted companies, or startups if their valuation exceeds the company's fair market value.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
From the 30-share blue-chip pack, Zomato surged over 7 per cent. Maruti, ITC Hotels, ITC, Mahindra & Mahindra, Asian Paints, Titan and IndusInd Bank were among the biggest gainers. Power Grid, Larsen & Toubro, NTPC, UltraTech Cement, HCL Tech, Tech Mahindra, Infosys and Adani Ports were among the laggards.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
rediffGURU Samkit Maniar answers readers' personal income 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.
Currently, India has five publicly listed Reits: Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit Nexus Select Trust, and Knowledge Realty Trust.
His victory means that his party will have to learn from him, because after the rise of Donald Trump, the Democrats have been in disarray. They have had no real answer to the Trump phenomenon and Zohran, with his emphatic and clear policies aimed at working class Americans offers them a national path for a return, asserts Aakar Patel.
Adani Energy Solutions on Monday posted a 28 per cent decline in consolidated net profit to Rs 557.10 crore for the September quarter, mainly due to one-time adjustment of deferred tax of Rs 314 crore in the year-ago period. Adani Energy Solutions Ltd (AESL) had reported a net profit of Rs 773 crore in the July-September quarter of the last fiscal.
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.
'States should be compensated for the revenue loss for at least five years or beyond till the revenue stabilises.'
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
The Income Tax notice was recovered from the house of Baljeet Kaur at Shahabad in Kurukshetra in Haryana where Papalpreet and Amritpal had taken shelter on March 19 and 20 before fleeing from there.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
As per the Budget memorandum, the government has proposed amendment to Sub-Section 2 of Section 23 of Income Tax Act, which relates to determination of annual value of house properties.
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.
