Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Make sure the rider adds value rather than just adding to cost.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Enforcement Directorate (ED) has secured a 13-day custodial remand for Jawad Ahmed Siddiqui, chairperson of the Al Falah group, accused of generating over Rs 415 crore dishonestly from students. The ED claims Siddiqui has incentives to flee India as his family is settled in the Gulf.
What does this mean for you? Ramalingam Kalirajan explains.
Direct tax collection, including personal income tax, rose by 35.46 per cent to Rs 6.48 lakh crore in the current fiscal up to September 8, reflecting an uptick in the economy. The country recorded a GDP growth of 13.5 per cent during the first quarter ended on June 30, 2022. Direct tax collection, net of refunds, stands at Rs 5.29 lakh crore which is 30.17 per cent higher than the net collections for the corresponding period of last year, according to the data released by the Income Tax Department.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
The tax department conducts about 100-150 "full blown" searches and surveys in a financial year, and this enforcement action is not aimed towards the common taxpaying individual or entity.
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
The Delhi high court on Thursday rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
AI isn't a magic wand. It works best when combined with good systems, informed investors, and skilled advisors, says Amit Suri.
Disclosing an individual's income-tax returns is tantamount to violating the person's fundamental right to privacy as recognised by the Constitution.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
10 largecaps stocks which stand to gain from the Budget.
The passing of bills without Parliament, including the treasury benches, having any real understanding of what they contained through any rigorous process has accelerated through the Modi era, points out Aakar Patel.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy, Moody's Ratings said on Wednesday.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Conservative investors seeking equity-like tax benefits with low risk may go for them.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Unidentified men posing as central government officials intercepted a cash van in Bengaluru and allegedly fled with about Rs 7 crore. Police are investigating the incident and have formed teams to hunt for the suspects.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
Trent reported decent margins in the second quarter (July-September) of 2025-26 (Q2FY26) but growth moderated. Same store growth was low single-digits. Trent's revenue growth decelerated in Q2FY26 at 17 per cent year-on-year (Y-o-Y) while area additions were offset by decline in revenue per square foot (sq ft).
Gross direct tax collection in 2022-23 rose by around 20 per cent to Rs 19.68 lakh crore, exceeding the government's revised collection target. Buoyed by personal income tax collection, the gross collection has exceeded the revised estimates (RE), set on February 1, by Rs 2.41 lakh crore or by 16.97 per cent. After adjusting for refunds, the net income tax paid by individuals and corporate, showed an increase of 18 per cent to Rs 16.61 lakh crore during the fiscal, which ended March 31, 2023.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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