Maharashtra has topped the list of states with the most favourable ecosystem for the growth of Farmer Producer Organisations (FPOs), replacing Madhya Pradesh, which has slipped to second place, according to the latest Ease of Doing Business for FPOs (EoDBF) ranking.
Taxpayers have been advised to file accurate particulars of their income and contact details, and not to fall prey to agents or intermediaries promising undue refunds.
The perils mentioned here may seem few in number, but each of it encompasses an entire set of dangers posed by the free online tax filing offers.
'There is no retrospective changing of the law, only its simplification.'
FMCG major Hindustan Unilever Ltd (HUL) reported a 21 per cent increase in its March quarter consolidated net profit, reaching Rs 2,994 crore, primarily driven by higher volumes and a significant gain from the divestment of its stake in Nutritionalab.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
As on April 1, income tax arrears have increased to Rs 43 trillion from Rs 24 trillion on April 1, 2023.
The form, introduced by the Central Board of Direct Taxes in April, is supposed to make filing tax returns easier.
Yes, if you are planning to apply for a loan or want to claim refund
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Miss the March 31, 2018 deadline to file belated tax return for FY16, and risk an I-T notice and a hefty fine.
The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal. In a tweet, the income tax department said, the software/utilities for preparing other ITRs/ Forms will be enabled shortly.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries.
FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported a two-fold jump in consolidated net profit to Rs 6,603 crore in the December quarter of FY'26, on a year-on-year basis, driven by a one-off positive impact from the demerger of its ice cream business.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Rahul Gandhi accuses Mamata Banerjee of not directly fighting the BJP, alleging that this indirect approach benefits the ruling party. He also criticised her government's performance on job creation and handling of corruption.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
'By filing a belated return, you can avoid the consequences of non-disclosure of income.' 'You can also avoid a notice from the I-T department for not filing an ITR.'
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea.
It's tax returns season. Ask our tax experts Mihir Tanna, Hardik Parikh, Tejas Chokshi and Sanjeev Govila.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
'Personal income tax is growing by 27 per cent and most refunds have already been issued.'
Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices "to facilitate completion of pending departmental work.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
An income tax tribunal held that the amount received by Google Ireland from Google India towards marketing and distribution rights of the AdWords programme is not royalty, and hence, cannot be taxed at the hands of the assessee (Google Ireland). The ruling by the Bengaluru-based Income Tax Appellate Tribunal (ITAT) may have repercussions on similar transactions by multinationals, feel experts. Explaining the case, Amit Maheshwari, tax expert at AKM Global, said Google Ireland had received Rs 8,662.93 crore under the Google Reseller Agreements.
Finance Act, 2019 has made it mandatory for certain categories of taxpayers to file their ITR, even though their income may be below the taxable threshold. read on to find the details.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
