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rediffGURU Yogendra Arora answers readers' personal income tax queries.
Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
rediffGURU T S Khurana answers readers' personal income tax queries.
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.
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
After social media outrage over a Budget proposal making it mandatory to get tax clearance certificates for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The finance ministry, in the Finance Bill, 2024, has proposed to add the reference of the Black Money Act, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate.
Chaitanya Baghel, son of Congress leader Bhupesh Baghel, was released from jail after being granted bail in cases related to the alleged liquor scam in Chhattisgarh. The release was met with celebration by Congress supporters.
A new poll indicates that President Donald Trump's approval rating is suffering as economic anxieties and the rising cost of living weigh heavily on US voters, revealing deep political divides and widespread dissatisfaction with the government.
Rural India outpaced urban centres in passenger vehicle sales in 2025, recording a growth of 12 per cent compared with 8 per cent in cities.
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
Cognizant reported a significant increase in net income for the December quarter, driven by AI efficiencies and strong performance in the financial services sector. The company also announced a major deal and provided guidance for the upcoming year.
As on April 1, income tax arrears have increased to Rs 43 trillion from Rs 24 trillion on April 1, 2023.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
rediffGURU T S Khurana answers readers' personal income tax queries
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego and Mahesh Padmanabhan your I-T related questions.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Tax experts answer your budget-related queries
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
Quoting an incorrect PAN during property registration can invite penalties and prosecution.
Understanding severance pay isn't just for those who are losing their jobs
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
'People become guided by emotions, fear of missing out, and greed. They tend to invest in booming sectors that may prove exceptionally expensive.' 'Typically, that represents the peak, and subsequently, they lose substantially.'
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
A court in Chennai on Tuesday adjourned to June 9 the income tax return cases against Tamil Nadu Chief Minister J Jayalalithaa and her aide Sasikala for their appearance.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Anil Rego answers readers' personal income tax queries.
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