There are some countries where more than 50 per cent of the income goes to taxes.
A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
Here we take a look at income tax rules governing income tax for the NRIs in India.
Hiring demand strongest in ecommerce, tech startups, healthcare, and energy sectors, with Bengaluru, Hyderabad, and Pune leading.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Although many European countries have high income taxes, they don't charge as much as India.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
"Income tax revolution is going to take place. There is no limit to reforms in the income tax department and in the country as a whole," Central Board of Direct Taxes member B Swarup said in New Delhi.
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
Choosing the right ITR form for your income tax return filing can be quite confusing. Investmentyogi simplifies the ITR forms and all the jargon associated with it. Keep it handy for your returns in 2010.
India is growing fast, but to keep growing strong, the government must make more things at home, create jobs, and spend money wisely, suggests Rajiv Memani, regional managing partner, Africa-India Region, EY.
Tax benefits can be claimed on both the principal and interest components of the home loan as per the Income Tax Act. These deductions are available to assesses, who have taken a loan to either buy or build a house.
The sanctioned strength of department is 57,793 while the working strength is 40,756; thus a shortfall of 29.47 per cent, the Minister of State for Finance S S Palanimanickam informed the Lok Sabha in a written reply.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The first step in tax saving through family tax planning is to adopt the concept of divide and rule. The simple rule is that each family member must have his or her independent source of income so as to legally become an independent tax payer under the provisions of the income tax law. Under the income tax law it is not possible to arbitrarily divide one's income amongst different members of the family - and then pay lower tax in the names of different family members.
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
The new Income Tax return forms are much simpler in many respects.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
With the click of a mouse you could now check the status of your income tax refund online. The Income Tax department has introduced online availability of information regarding one's tax refund.
Vaibhav Sooryavanshi's explosive innings and Arjun Tendulkar's half-century guided DY Patil Blue to a thrilling victory in the DY Patil T20 Cup.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
You don't need to be intimidated by the thought of filing tax returns
Indian shipyards Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) are set for substantial growth, driven by a significant pipeline of Indian Navy orders and diversification into commercial and export markets. The Navy's share in defence spending is approximately 21 per cent, ensuring robust order visibility for these domestic players.
Income Tax Return forms in India are like the Golmaal series of movies. Every two years there is a new one.
Individuals now need to mention a unique transaction number against every tax deducted at source entry.
Authorities have put forward a tax demand of Rs 2,080 crore.
Income tax authorities on Friday launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
The new income tax returns form, ITR-1, is relatively simpler than Saral. Here is a lowdown on what salaried individuals will now have to cope with.
In this article we shall discuss four preliminary steps to be taken for filing your income tax return accurately and correctly.
They are not just underreporting income; they are reshaping what the income tax system perceives, says study.
Here's the procedure of getting your income tax refund quickly which you have not been able to get within stipulated time.
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