Mukesh Ambani, Asia's second richest man, has not drawn a salary from Reliance Industries for the sixth consecutive year, with dividends from his extensive shareholdings serving as his primary source of income.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Institutional investments in India's housing market plummeted by 85 per cent to USD 154 million in the first half of 2026, while overall real estate inflows saw a modest 6 per cent increase, driven primarily by domestic investors and strong interest in office and data centre projects.
A PL Capital report projects India's LPG subsidy bill to exceed Rs 1 lakh crore in FY27, creating a significant Rs 70,000 crore gap over the Union Budget's Rs 30,000 crore allocation, driven by the government and OMCs absorbing higher fuel and LPG price increases.
The Trinamool Congress (TMC) has strongly condemned a pre-dawn police search at MP Abhishek Banerjee's Kalighat residence in connection with an alleged financial fraud, calling it an act of political vendetta by West Bengal's BJP government. The party claims the search yielded no incriminating evidence, intensifying political confrontation in the state.
The Reserve Bank of India (RBI) reported a significant 52 per cent year-on-year increase in gains from foreign exchange transactions, reaching 1.69 trillion in FY26. This surge occurred despite the central bank selling a gross $195 billion in the spot market to manage rupee volatility, which saw a 9.85 per cent depreciation.
Trinamool Congress MP Abhishek Banerjee's Kolkata residence was raided by police and central forces for over four hours in connection with a financial fraud case, targeting his close aide Sumit Roy, whose mobile phone was last traced to the property.
West Bengal police, supported by central forces, conducted a four-hour predawn raid on TMC MP Abhishek Banerjee's Kolkata residence in connection with a financial fraud case involving his aide, Sumit Roy. The operation, which Banerjee claims involved forced entry, has been denounced by the TMC as "political vendetta" and comes as Banerjee faces multiple investigations from various agencies, further escalating political tensions in the state.
The Indian government has imposed a new windfall gains tax of Rs 3 per litre on petrol exports, while simultaneously reducing the levy on diesel to Rs 16.5 per litre and aviation turbine fuel (ATF) to Rs 16 per litre, effective May 16.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
Recent changes to tax exemptions and allowances, including increased education, hostel, and HRA limits, have made the old tax regime more competitive against the new regime, prompting salaried employees to re-evaluate their choice for the current financial year.
Ricky Ponting says Punjab Kings must reset and start fresh in IPL 2026, backing a stronger squad ahead of their opener against Gujarat Titans.
rediffGURU T S Khurana answers readers' personal income tax queries
Ferrari unveiled the 1,050-hp 849 Testarosa in Mumbai, blending aggressive design with a hybrid V8 powertrain capable of 0-100 km/h in just 2.25 seconds.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
For decades, multinational pharmaceutical companies and Indian drugmakers worked in ways that supported each other: MNCs brought innovation and brands, while Indian companies built scale through generics and cost efficiency. There was an important overlap - generic drugs - but this is shrinking fast. And the consequences are reshaping India's gigantic pharmaceutical market.
The Supreme Court has granted bail to Vishal Agarwal, the father of the minor accused of driving the Porsche in the fatal Pune crash, in connection with the blood sample swapping case.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
Today, predictability has replaced volatility. When 200 becomes routine and chases follow a template, the element of surprise goes out the window and with it viewer engagement.
India's women's team faces a tough challenge against Japan in their second AFC Women's Asian Cup match after a narrow defeat to Vietnam. The team aims to maintain intensity and adapt tactically against the formidable Japanese side.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
The Indian government has addressed Parliament regarding a case of an Indian national seeking repatriation from Russia due to the situation in West Asia and the Gulf region. The government also responded to queries about Indian nationals denied entry to South Korea and seafarers detained in foreign countries.
'Why can't a woman make a Rs 100 or Rs 1,000 crore film, why only a male director has to make?'
Delhi Police have registered multiple FIRs and seized hundreds of LPG cylinders in a crackdown on illegal storage, refilling, and black marketing operations amid concerns of potential supply shortages.
Delhi Police have dismantled an illegal operation involving the storage of over 600 LPG cylinders and arrested an individual for illegally refilling gas cylinders, highlighting concerns over safety and black market activities.
The government has sharply reduced excise duty on petrol to 3 and diesel to zero, offering major relief to consumers. Here's how the price cut will impact fuel rates and inflation.
As famous as movie stars and global leaders are a bunch of animal celebs that the world grew to positively adore.
The Budget offers a limited-time regularisation window with clear thresholds, defined payments, and immunity from penalty or prosecution.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Centre has proposed exempting life and health insurance policies for individuals from GST, Bihar Deputy Chief Minister and convenor of insurance GoM Samrat Choudhary said on Wednesday. Currently, health and life insurance premium attracts 18 per cent GST.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
ITRs with zero tax liability have increased to 55.7 million in FY25.
India's marine product exports facing rough weather from punitive US tariffs are expected to get a big boost following the reduction of 26 per cent tariff as part of the India-EU Free Trade Agreement (FTA), but concerns over non-tariff barriers, which are a dominant aspect of marine trade to the EU, still remain.
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
Labuschagne underlined the cricket adage that "catches win matches", while England counted the cost of dropped chances in Adelaide.
FIDE World Cup 2025: Praggnanandhaa survives scare; Arjun, Karthik, Harikrishna also draw first game of Rd 4
Indian Grandmasters Arjun Erigaisi and R Praggnanandhaa played out solid draws while P Harikrishna wriggled out of a difficult situation to head into a tie-break in the fourth round of the Chess World Cup, in Panjim on Wednesday.
