Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
The Kerala model is crucial as SMA patients in India had a long wait for a viable treatment option.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Many buyers skip or misread critical provisions in builder-buyer agreements.
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Interest rate on Public Provident Fund scheme was cut to 8.1%.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
With the reduction, term deposits of 1-3 years will now fetch an interest rate of 5.5 per cent from the existing 6.9 per cent.
The Lok Sabha on Tuesday passed the Finance Bill 2025, along with 35 government amendments, including one that abolishes a 6 per cent digital tax on online advertisements.
State-owned banks have received guidance from the government to close Jan Dhan accounts whose beneficiaries are unwilling to keep them active, amid rising instances of such accounts being misused by fraudsters as mule accounts to defraud people, people aware of the development said.
Here are some tips for salaried class to reduce their tax burden as the financial year is nearing its close come March 31.
'The next decade will be even more transformative,' says Prime Minister Modi. 'We are moving from digital governance to global digital leadership.'
ICC is mulling a dedicated fund of at least US$ 15 million for Test cricket that will help increase the players' match fee and address the migration of talent to T20 leagues.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
'Decide on an asset allocation you are comfortable with and stick to it for the long term.'
They don't just want better returns -- they're looking for global opportunities, more variety and smarter ways to grow their money, says Soubho Moulik, CEO, Appreciate.
But to avail the benefit of this new tax-saving scheme you will need to ask your employer to make some changes to your CTC package.
Investors looking for a fixed-income product that is free of credit risk may invest in these bonds.
Sinha, who is steering Sebi efforts to tackle the ponzi menace, said that in regions like West Bengal and North East -- where penetration of banking services is low -- have seen a larger number of people getting trapped in illegal money pooling schemes that promise high returns.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
The withdrawal right is hemmed by many conditions.
>The Indian Army still uses old British-era names and recruits soldiers based on caste or region, which hurts national unity, argues Colonel K Thammayya Udupa (retd).
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
Former Indian Prime Minister Manmohan Singh accused his successor, Narendra Modi, of lowering the dignity of public discourse and the gravity of the office of the prime minister by giving "hateful speeches" during the 2024 Lok Sabha election campaign. In an appeal to voters of Punjab ahead of the seventh phase of Lok Sabha polls, Singh asserted that only the Congress can ensure a growth-oriented progressive future where democracy and the Constitution will be safeguarded.
The interplay between domestic and foreign capital will shape India's equity markets.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
Asim Munir and his brand of short-sighted army officers give no inkling of paying heed, changing course or learning lessons from the past, observes Rana Banerji, who headed the Pakistan desk at RA&W.
Prime Minister Narendra Modi on Monday said that Chief Minister Ashok Gehlot has already 'accepted defeat' by requesting him not to stop schemes initiated by the Congress in Rajasthan, and gave a guarantee that the Bharatiya Janata Party will not stop any scheme but only try to improve it.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The Centre is likely to announce the Agnipath recruitment scheme for the defence forces under which troops would be recruited only for four-year tenures.
Such holders will earn only post office savings account rate of 4 per cent and not the higher rate on those instruments when the status was one of resident.
An accurate early warning system that correlates rainfall and the potential for landslides. That is the imperative, say experts as rains create havoc in hills across India and the toll mounts in Kerala's Wayanad slopes where landslides buried entire homesteads and possibly hundreds of people.
'We don't know which bus is coming next. I know for sure whatever bus comes next, it will miss that too.'
