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.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
'Legally clean farmland is difficult to find. It requires time, money, and legal effort to verify the title.'
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.
Robert Vadra, husband of Priyanka Gandhi Vadra, appeared before the Enforcement Directorate for questioning in connection with the Sanjay Bhandari money laundering case.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
India is set to become the world's fourth-largest economy in 2025, but slow income growth, lack of structural change, and rising inequality highlight the gap between progress and real transformation.
Netizens broke out into a meme fest as they welcomed Nirmala Sitharaman's tax break.
'Do exhaustive research and then select the one that best fits your budget and requirements.'
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.
'Having a separate healthcare corpus is extremely important even for those already covered by health insurance.'
Biggest beneficiaries would be people having income between 800,001 to 999,999 per annum.
Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.
Income tax sleuths who reached Khan's residence on Jail Road in Rampur in Uttar Pradesh at 7 am on Wednesday completed their search Friday evening.
'I am doing the drive in making sure that people pass this on. So the drive is not with distrust. The drive is just in case.' 'Just in case it doesn't get passed on, I am here.'
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Grant Thornton Bharat's latest survey indicates that hybrids are set to consolidate market share this festive season, bridging the gap between conventional petrol engines and the emerging electric vehicle segment.
Bharatiya Janata Party on Thursday issued a three-line whip to all of its Lok Sabha MPs asking them to be present in the House for the passing of the Union Budget 2025-26.
When and how you can access EPF money before retirement without jeopardising your long-term retirement savings.
Income Tax department have released different tools to help you file your ITR-3 form easily.
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.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
To ensure a glitch-free rollout of the next-generation GST with reduced rates and lesser slabs, Finance Minister Nirmala Sitharaman chaired three separate meetings to assess GSTN's preparedness and the time it would take to implement technological changes required in the software systems.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Automotive (auto) stocks have been among the best performers in the BSE 200 index in recent months. More than half of the top 15 gainers over the past one, two, and three months have come from the sector.
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 Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
Indian-origin lawmaker Zohran Kwame Mamdani stunned in the Democratic primary race for New York City mayor, upsetting former governor Andrew Cuomo.
A string of welfare schemes and promises tests the state's budget, which is already heavily dependent on central support and spends little as capital outlay.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
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.
Amid the impending rejig in the goods and services tax (GST) rates, an association representing the country's beverages industry has appealed to the Centre to not classify aerated beverages as sin/demerit good and bring it under the 18 per cent slab while citing their "mass consumption" as a reason.
India's corporate bond market, driven by public sector undertaking (PSU) banks and financial institutions last year, is losing momentum since the second quarter of FY26.
Reliance Industries Ltd (RIL) on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
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