rediffGURU Samkit Maniar answers readers' personal income tax queries
The year began with Ayodhya getting ready for the Ram temple consecration ceremony. Almost four months later, the excitement has settled down and some voters are crediting the Bharatiya Janata Party for fulfilling its promise while others feel that development should reach every corner of the district.
Taking note of complaints of indiscipline and anti-party statements, Congress president Mallikarjun Kharge approved Nirupam's expulsion from the party for six years with immediate effect, an official communication from the party said.
Rajnath said the opposition parties were trying to cover up their own "mistakes and weaknesses".
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Inequality in India has skyrocketed since early 2000s, with the income and wealth share of top 1 per cent population rising to 22.6 per cent and 40.1 per cent, respectively, in 2022-23, according to a working paper. The paper titled 'Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj' said between 2014-15 and 2022-23, the rise of top-end inequality has been particularly pronounced in terms of wealth concentration.
The name of the successful bidder was not disclosed.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
It is important to have the necessary documents on hand to verify the information in the form.
Net direct tax collection in the eight months of the current fiscal touched 58.34 per cent of Budget Estimates (BE) at Rs 10.64 lakh crore. The net tax collection for April-November stood at Rs 10.64 lakh crore, which is 23.4 per cent higher than the corresponding period of last year, the ministry of finance said.
"We will complain. He can meditate, but televisions cannot show it," she said, alleging that this will amount to "violation of the MCC."
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.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
The Income Tax notice was recovered from the house of Baljeet Kaur at Shahabad in Kurukshetra in Haryana where Papalpreet and Amritpal had taken shelter on March 19 and 20 before fleeing from there.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The idea that India is the world's largest democracy is a complete lie, Rahul Gandhi alleged.
A court in New Delhi on Thursday extended the Enforcement Directorate custody of Chief Minister Arvind Kejriwal till April 1 in the excise policy case.
Is India headed there again? questions Ajit Balakrishnan
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
Income Tax collections are expected to fall short by an estimated Rs 9,000 crore.
The case dates back to August 2017 when the Income Tax department had carried out searches at multiple premises in Delhi as part of its alleged tax evasion probe against Shivakumar, his alleged business associate and liquor trader Sachin Narayan, another associate Sunil Kumar Sharma who operated a fleet of luxury buses, Karnataka Bhawan (Delhi) employee A Hanumanthaiah and former state government employee and caretaker posted at the Karnataka Bhawan Rajendra N.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.
Delhi Cabinet minister Atishi on Friday said the Aam Aadmi Party (AAP) is worried about the security of Chief Minister Arvind Kejriwal in Enforcement Directorate (ED) custody.
"The British Broadcasting Corporation (BBC) is a globally respected institution and broadcaster whose news material I consume everyday. Secondly, all organisations have to obey the law of India. BBC is talking to Indian authorities about that," Ellis said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
Ahead of this election, the alliance between the BJP and the SKM had broken down. One reason is the fear that like Article 370, Article 371F might also be changed.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Santiago Martin has funded Rs 1,368 crore to political parties between October 2020 to January 2024 through electoral bonds.
Finance Minister Nirmala Sitharaman on Thursday presented her sixth Budget in a row, equalling the record of former Prime Minister Morarji Desai.
After the income tax department indicated that the Tamilnad Mercantile Bank (TMB) did not provide the complete details of transactions worth up to Rs 3,610 crore, sources told Business Standard that this was due to a technical glitch. The bank has now submitted all the required documents in the past few days. According to the Income Tax (I-T) department, TMB had not submitted a statement of financial transactions (SFT) pertaining to cash deposits of around Rs 2,700 crore involving more than 10,000 accounts.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
The Congress on Wednesday questioned the Election Commission's move to get a post on electoral bonds scheme deleted from social media platform X and said that the issue raised in the post makes the government 'extremely uncomfortable'.
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