The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
The income tax department will allow people to file 'belated return' until December 31.
Makers of spirits, beer, and wine are working to identify new markets of growth as two of the industry's biggest liquor markets, Maharashtra and Telangana, remain embroiled in taxation and payment issues.
The Supreme Court has sought responses from the Centre and others on a plea challenging the validity of a provision of the Income Tax Act that allows political parties to receive "anonymous" cash donations below Rs 2,000.
In a relief for the Congress, the Income Tax department on Monday told the Supreme Court that it will not take any coercive action against the opposition party for tax demand notices of Rs 3,500 crore approximately in view of Lok Sabha elections.
India's economy experienced a growth of 7.8 per cent during the October-December quarter of 2025-26, according to the new series of national accounts with 2022-23 as the base year.
rediffGURU T S Khurana answers readers' personal income tax queries.
The income tax department on Wednesday conducted a survey operation at Hinduja Global Solutions, an entity of the Hinduja Group, in Mumbai and some other cities, official sources said.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
The government on Friday extended he deadlines for various income tax compliances and said the amount paid by an employer to employees for Covid-19 treatment would be tax exempt.
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices. This follows this year's Union Budget move to reduce the time limit for tax reassessment from 10 years to five in cases of escaped income. The new provision becomes effective on September 1 and will make past assessments for AY 2018-19 time-barred.
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.
'Stay invested but progressively reduce risk. Beyond a point, the objective should shift from maximising returns to avoiding unpleasant surprises.'
The Union Government has extended the last date for filing Income-Tax to October 31 , 2004. Take the Rediff Business Quiz and find out how much you know about Income-Tax.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
'Despite a challenging FMCG environment, ITC Foods has grown at or above the industry rate.'
The Income Tax Department has notified ITR forms 1 and 4, which are filed by individuals and entities with annual total income of up to Rs 50 lakh for FY 2023-24 (AY 2024-25). Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and those having earnings from business and profession in the current fiscal (April 2023-March 2024) can start filing returns for the income earned this financial year.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
Finance Minister Nirmala Sitharaman on Sunday proposed to exempt Minimum Alternate Tax (MAT) for non-residents who pay tax on presumptive basis.
States could then stop complaining about the Centre and fashion their own economic destinies, says T C A Srinivasa Raghavan.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
According to a police officer, the fire started in the office of the Commissioner in room number 325 on the third floor of the building. He said many of the employees were outside the building as it was lunchtime, otherwise, the casualty could have been more.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
'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.'
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Government's focus should be on the expenditure side in this Budget, not so much on the taxation side.'
CA Sumeet Mehta analyses the Union Budget 2026-2027, identifying key positives and negatives.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
NPS Vatsalya offers a disciplined investment avenue that parents can use to create intergenerational wealth by contributing even small sums.
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Filing a belated return is far better than not filing at all.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
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