rediffGURUS Mihir Tanna, Vipul Bhavsar, T S Khurana, Vivek Lala and Anil Rego will answer your tax queries related to the Union Budget 2026-2o27.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
The DMK party in Tamil Nadu has released its manifesto for the upcoming Assembly elections, promising a range of welfare measures focused on women, education, and economic development, including financial assistance and job creation initiatives.
The Central Information Commission (CIC) has directed the Income Tax Department to disclose 'generic details of the net taxable income/gross income' of an estranged husband to his wife for pursuing maintenance proceedings. The commission stated that such information cannot be denied on privacy grounds in matrimonial disputes.
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.
Hiring demand strongest in ecommerce, tech startups, healthcare, and energy sectors, with Bengaluru, Hyderabad, and Pune leading.
No income tax relief, but compliance burden eased for youth and middle class through lower TCS.
The tax is collected by brokers on behalf of the government and forms a key component of the Centre's tax revenues.
'Whether it is an Indian entity or an overseas subsidiary of the entity that is making the payment, if the owner is Indian, then he or she is contributing to the Indian casualties.'
Think again. Not filing could cost you. Here's who must file, who should, and why it matters. What's more, the deadline to file your ITR has been extended till September 15, 2025
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
What items did Finance Minister Nirmala Sitharaman make costlier?
Is the parabolic rise in silver running out of steam or just getting started? Ramalingam Kalirajan offers his take on if you should invest in silver now?
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Central Board of Direct Taxes on Tuesday said stakeholders can send their inputs for drafting Income-tax rules and related forms pertaining to the proposed Income Tax Bill, 2025. The Income Tax Bill, 2025 was introduced in Parliament last month and is currently under examination by the Select Committee for detailed consideration.
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
The Delhi High Court quashed income tax notices issued to NDTV founders Prannoy Roy and Radhika Roy, citing arbitrary proceedings and ordering the department to pay costs.
The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
Among its 27 recommendations for the Union Budget is this: It has suggested that equity investments held for more than one year and up to three years should be taxed at 12.5 per cent on gains exceeding 2 lakh in a financial year.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
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.
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.
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
Union Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on Thursday and urged Speaker Om Birla to refer it to a select committee of the House. Opposition members opposed the Bill at the introduction stage but the House passed a motion by voice vote for its introduction.
Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill. To be headed by Bharatiya Janata Party's Baijayant Panda, the panel is mandated to submit its report by the first day of the next session.
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.
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 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.
'Among corporates, about 60% of income is now reported under the new tax regime.'
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.
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