rediffGURU T S Khurana answers readers' personal income tax queries.
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income.
Many affluent young people are first-generation wealthy. They have limited financial literacy, lack quality financial guidance or role models, and often fall prey to mis-selling. This makes them hesitant to invest in high-return assets like equities.
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
Average salary has grown faster than average business income for three of the last five years. This has implications in a country like India. Most people in India are self-employed, with 51.4% of the population falling in that bracket.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURU Mahesh Padmanabhan answers readers' personal income tax queries.
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.
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You don't need a six-figure salary to build wealth -- you need discipline and a smart plan, says Ramalingam Kalirajan. and shows you how
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
With the price of gold entering a strong bull run, gold-loan non-banking financial companies (NBFCs) are under the spotlight, even though their performance is not directly linked to gold price. Muthoot Finance outperformed in the April-June quarter (Q1) of 2025-26 (FY26), with its assets under management (AUM) growing 10 per cent quarter-on-quarter (Q-o-Q) and 42 per cent year-on-year (Y-o-Y), an improvement of 88 basis points (bps) Q-o-Q in net interest margin (NIM), and a fall in credit cost. Gold AUM rose 40 per cent Y-o-Y and 10 per cent Q-o-Q. The company recorded recoveries of 350 crore, including 100 crore from an asset reconstruction company (ARC), resulting in a 100-bp Q-o-Q yield increase.
The direct tax collection in India went up by 46.9 per cent in April-July to Rs 71,648 crore (Rs 716.48 billion) from Rs 48,756 crore (Rs 487.56 billion) a year ago.
Tax Guru Anil Rego answers your personal income tax queries
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The CII on Monday recommended raising personal income tax exemption limit by Rs 50,000, removal of Fringe Benefit Tax and surcharge on corporate tax along with measures to promote investment in the full budget to be presented by the new government in July.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
rediffGURU Samkit Maniar answers readers' personal income tax queries
ELSS investments require a long-term commitment of at least seven years.
Tax expert Anil Rego answers readers' questions about how Finance Minister Piyush Goyal's Budget affects you.
In his tax proposals he announced that there will be no change in the rates of personal income tax. He further announced that there will be no new taxes on income.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
There have been multiple instances of the same entity appearing as both a public shareholder as well as under the promoter classification in some listed companies. And this dual-classification happened in the same quarter, according to data compiled by primedatabase.com.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
The biggest risk for investors isn't the market, but their own minds, biases and emotions often lead to poor financial choices.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'2025 is the year to build a portfolio for the future. Focus this year should be on valuations and visible growth.'
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The surprise action comes weeks after the broadcaster aired a two-part documentary on the 2002 Gujarat riots and India.
Rajkumar Gupta's hammy treatment and bombastic score strips the realism to turn Raid 2 into another hail the hero exercise, observes Sukanya Verma.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Senior officials in the ministry told Business Standard the rate of taxation would remain the same in the final version of DTC.
The identity of the informant shall be kept a secret, it said.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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