A Spanish court handed Brazil coach Carlo Ancelotti a one-year prison sentence for failing to pay tax on his image rights revenues in 2014 when the Italian was Real Madrid manager.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
In a big boost to tycoon Gautam Adani, markets regulator Sebi on Thursday cleared the billionaire and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. State-owned Bank of India granted a Rs 700 crore loan in August 2016 to Reliance Communications for its ongoing capital and operational expenditure and repayment of existing liabilities.
Government sources said amendments were being considered to the Atomic Energy Act to allow private sector participation and the Civil Liability for Nuclear Damage Act to limit the liability on suppliers of equipment to build atomic energy plants.
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
A 35-year-old 'sevadaar' at the Kalkaji temple in Delhi was allegedly beaten to death after an argument over 'chunniprasad'. Police have arrested one person and are searching for others involved.
Customers must sign the agreement promptly to avoid disruptions. They should read it thoroughly and understand their rights and obligations.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
The Supreme Court has ruled that motor vehicle tax is not applicable if a vehicle is not used or kept for use in a 'public place'. The ruling came on an appeal challenging a judgement of the Andhra Pradesh High Court.
The bail plea of fugitive diamonds trader Mehul Choksi, wanted in India in connection with over Rs 6300-crore fraud in the Punjab National Bank (PNB), has again been turned down by a court of appeal in Belgium, just ahead of his extradition hearing before a court in that country, officials said. The court rejected the appeal on strong reasons conveyed by the CBI to the Belgian prosecution that Choksi had escaped from many jurisdictions earlier as well to evade legal proceedings and may flee to another country if let out on bail, they said.
We propose an expert group be set up to form a national strategy on digital fraud. This group would bring together skills in financial regulation, security economics, cyber defence, and public communications, and an understanding of the Indian financial and security systems. It should lay the foundations of a coordinated approach by the Indian State in fighting digital fraud, suggest Ajay Shah and Nandkumar Saravade.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
'$125 million for the hull and the remaining of over $350 million for liability.'
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
Kudumbashree's new initiatives like onasadya, Onam kits and gift hampers are a huge hit.
The size of the Reserve Bank's balance sheet as on March 31, 2025 increased by 8.20 per cent year-on-year, leading to a bumper dividend of Rs 2.69 lakh crore for the central government. Increase on assets side was due to rise in gold, domestic investments and foreign investments by 52.09 per cent, 14.32 per cent and 1.70 per cent, respectively, said the RBI's Annual Report for the Year 2024-25 released on Thursday.
The Canara Bank on Thursday informed the Bombay high court that it has withdrawn its order classifying as "fraudulent" the loan account of a firm linked to industrialist Anil Ambani. After the bank's disclosure, a bench of Justices Revati Mohite Dere and Neela Gokhale disposed of the petition filed by Ambani challenging the bank's order, saying nothing survives in it.
The nationality of the passengers onboard will define the minimum liability applicable to the airline operator as per the Montreal Convention, Prudent Insurance Brokers vice president (aviation & specialty lines) Hitesh Girotra said.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
You can't be the second-most expensive market in the world and deliver just 10 per cent EPS growth, points out Akash Prakash.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Possible convergence of interest among China, Pakistan, and Bangladesh may result in serious implications for India's stability and security dynamics, Chief of Defence Staff General Anil Chauhan said on Tuesday.
The opposition has been demanding a debate on Operation Sindoor -- the strike on terror sites in Pakistan by the Indian armed forces in response to the terrorist attack in Pahalgam on April 22.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
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.
35,493 brides were killed in India between 2017 and 2022 -- averaging nearly 20 deaths a day -- over dowry demands, sometimes occurring even years after the wedding.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
Global cryptocurrency giant Binance has asserted that it never owned or controlled WazirX before or after the embattled Indian exchange was hacked in July that led to a security breach of more than $230 million. Binance added that there was no legal basis for the firm to be liable for claims made against the embattled crypto exchange. It refuted WazirX's claims that the global exchange owns the company, adding that it does not operate the platform.
Reserve Bank on Friday decided to cut Cash Reserve Ratio (CRR) by a huge 1 per cent, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the economy. With the reduction in four equal tranches ending November 29, 2025, the CRR would come down to 3 per cent.
rediffGURU T S Khurana answers readers' personal income tax queries.
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
