The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
A banking Trojan malware has been detected in the Indian cyberspace that is lurking to attack bank customers using Android phones and has already targeted those from more than 27 public and private sector banks, the country's federal cyber security agency said in a latest advisory.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
This is as easy as it gets and all one needs to do is to enter the PAN number and the assessment year on this site to access the current position of the tax refund.
But the party favoured most of the proposals on indirect taxes.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
The actors have admitted to having assets beyond their known sources of income.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
In a relief to individual tax payers, the government on Friday changed the slabs cutting the rate to 10 per cent for income up to Rs five lakh, while leaving the threshold limit for tax-free income unchanged at Rs 1.6 lakh.
Understanding severance pay isn't just for those who are losing their jobs
Of the 926 bank branches, 862 branches are public bank branches, 35 HDFC bank branches, 10 ICICI bank branches and 19 Axis bank branches.
In a pre-Budget wishlist, Vinod Juneja, managing director, Braj Binani Group, said, "I expect the finance minister to target the GDP growth of at least 8% or higher for the next 3 financial years."
BJP leader Subramanian Swamy on Sunday urged the Centre to do away with the system of collecting income tax and instead find out other means to raise money to the exchequer.
The income tax authorities on Thursday conducted raids at seven places in Mumbai, a senior official said.
BCB removes its director Najmul Islam from key post after players revolt
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11.
'The impact will be minimal and it will only increase compliance cost on consent, data flows, localisation timelines, internal audits, data mapping, and new tooling.'
The duty, which is charged at the rate of 10 per cent, is payable in currency of the nation where the gold was bought.
Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said. The US president immediately dismissed the report as 'totally fake news'.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
The details that you file regarding your income, investments and tax exemptions are verified by the Income Tax department with the details obtained as per your Permanent Account Number records.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
After Ministry of Corporate Affairs, the Income Tax department too has launched a probe to trace the source of funding of various firms that invested in Bharatiya Janata Party president Nitin Gadkari's company Purti Power and Sugar Limited.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.
Tax consultant Mahesh Padmanabhan throws light on six reasons why you must file your tax returns and then lists out the virtues of why you must not hide interest income earned while filing tax returns.
Here's a list of countries with no personal income tax.
In a bid to make tax collection paperless and hassle-free, Centre will start E-refund of income tax from April, having put in place E-filing of tax deduction at source and tax information network.
A group to study simplification of laws relating to income tax has recommended removal of redundant provisions and use of simple language.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
The Central Information Commission will seek a report from Income Tax department and Directorate of Estate regarding tax exemptions claimed by political parties and their assets to ascertain whether there is enough indirect funding from the government to bring them under the ambit of RTI Act.
The Income Tax department on Friday said it has made available the excel utility for ITR-1 and ITR-4 for AY 2025-26, which will enable taxpayers to file their income tax returns. "The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers," the Income Tax department said in a post on X.
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