With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
As India marks a decade of the Goods and Services Tax (GST), the focus is shifting towards enhancing efficiency through artificial intelligence, data sharing, and process simplification. The reform, which unified India's indirect tax system, has significantly broadened the tax base and boosted revenues, with future plans including a streamlined two-tier rate structure and continued technological integration to reduce compliance costs and combat evasion.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURUS Mihir Tanna, Vipul Bhavsar, T S Khurana, Vivek Lala and Anil Rego will answer your tax queries related to the Union Budget 2026-2o27.
rediffGURU T S Khurana answers readers' personal income tax queries
The Calcutta high court has held that voter identity cards, Aadhaar and PAN cards are not conclusive proof of Indian citizenship.
Rajya Sabha proceedings were adjourned following an uproar over an alleged derogatory 'lungiwala' remark made by BJP MP Sushmita Dev against CPI(M)'s John Brittas, who had moved a privilege motion. Dev denied the accusation, stating she had not cast aspersions on any state's attire.
The investigation pertains to alleged irregularities in CMRL's financial transactions and its links with Veena's now-defunct company Exalogic Solutions Private Limited.
The Reserve Bank of India (RBI) net bought $561 million in June, marking its first net purchase since February, following three consecutive months of net sales. This move coincided with a series of government and RBI measures to attract foreign capital, leading to a 0.36 per cent appreciation of the rupee against the dollar.
Passenger vehicle sales in India are estimated to have surged by nearly 25 per cent in June 2024, reaching approximately 4 lakh units, with Maruti Suzuki, Tata Motors PV, and Mahindra & Mahindra leading the growth, despite concerns over geopolitical tensions and monsoon impact.
The Union Government has extended the last date for filing Income-Tax to October 31 , 2004. Take the Rediff Business Quiz and find out how much you know about Income-Tax.
The cabinet also gave its nod to a proposal to amend the Madhya Pradesh Minister (Salary and Allowance) Amendment Bill, 2024, and make a provision for state ministers to deposit their income tax instead of the government bearing such burden.
Police in Chhattisgarh's Mahasamund district seized 7.5 kilograms of gold worth Rs 9.17 crore from a car. The occupants of the car could not provide satisfactory answers about the gold's origin or produce relevant documentation.
With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
'You have to get private investment to somewhere between 35% to 36% of GDP. It is hovering about 30%-31%.'
The government on Friday extended he deadlines for various income tax compliances and said the amount paid by an employer to employees for Covid-19 treatment would be tax exempt.
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
Investors should do thorough due diligence when selecting a platform.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
Thousands of students clashed with Bihar Police in Patna while attempting to march to the chief minister's residence, protesting against the Bihar Public Service Commission's (BPSC) examination system and alleged irregularities.
We raid restaurants for cockroaches but never raid the roadside. Public hygiene runs entirely on faith and fumes. Even after so many years of being a free nation, points out Binu Alex.
States could then stop complaining about the Centre and fashion their own economic destinies, says T C A Srinivasa Raghavan.
RJD leader Tejashwi Yadav was detained in Patna during a protest march concerning police action related to NEET paper leak protests in Bihar. Yadav, along with RJD workers, was protesting against frequent exam paper leaks, stating that the government is jeopardising students' futures.
A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
Infosys, India's second-largest IT services firm, has appointed company veteran Ashiss Kumar Dash as CEO designate, with the leadership transition scheduled for April 1, 2027, after current CEO Salil Parekh completes his second term.
The tax treatment of equity savings funds makes them appealing, especially to investors in higher income-tax brackets.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions
All services on the income-tax e-filing portal -- both pre-login and post-login -- are expected to be updated by April 1 to reflect the new legal framework.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Maharashtra's Ladki Bahin Yojana has seen 81 lakh registered beneficiaries removed following a multi-month e-KYC verification drive, with the state's Women and Child Development Minister Aditi Tatkare clarifying the process was mandatory to filter out ineligible individuals, income-tax payers, and government employee families.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In a relief for the Congress, the Income Tax department on Monday told the Supreme Court that it will not take any coercive action against the opposition party for tax demand notices of Rs 3,500 crore approximately in view of Lok Sabha elections.
The income tax department on Wednesday conducted a survey operation at Hinduja Global Solutions, an entity of the Hinduja Group, in Mumbai and some other cities, official sources said.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
