While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
In a stunning victory, Indian-American lawmaker Zohran Kwame Mamdani defeated former governor Andrew Cuomo in the Democratic primary race for New York City mayor
"I categorically state that the central government has no plan to impose any tax on agriculture income," Jaitley said in a tweet.
Income Tax department have released different tools to help you file your ITR-3 form easily.
'Equities may not outperform every year, but if they do so seven times out of 10, it's an asset class worth relying on.'
'The finance minister missed yet another opportunity to simplify the income tax structure in the Budget.' 'This was an opportune moment to get rid of the old tax system entirely and move fully to the new system,' asserts M Govinda Rao, member of the 14th Finance Commission.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
Investors having a moderate-risk profile can use these funds in their retirement portfolios.
Failure to disclose any income can lead to penalties and legal issues.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.
Since the Indian government reduced GST on small cars on September 22, the small car segment's share in Maruti's overall sales has risen to more than 25 per cent, up from 16.6 per cent earlier in FY26.
Netizens broke out into a meme fest as they welcomed Nirmala Sitharaman's tax break.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'It takes time and the experience of a few market cycles to develop awareness about one's true risk appetite.'
'They are a poor fit for anyone with near-term goals, low volatility tolerance, or a need for steady income or liquidity.' 'First-time investors should typically avoid them.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
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.
'First-time investors, busy professionals, NRIs and those with modest sums looking for curated strategies may find FoFs especially appealing.'
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
Union Minister Nitin Gadkari voiced concerns about increasing poverty and wealth concentration, advocating for wealth decentralization and job creation in rural areas. He also highlighted the need for balanced sectoral contributions to GDP and discussed infrastructure development initiatives.
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
The income tax department on Tuesday asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate. As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate. Last month, the income tax department issued a circular stating that no action will be taken for short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31.
In FY24, the net income generated from Waqf properties fell to about Rs 1.26 crore from Rs 150 crore in FY20.
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.
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).
