'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Since items in the 12% category account for only about 5% of total GST, the additional boost to consumption may not be significant, points out M Govinda Rao.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Notwithstanding global headwinds, the Indian economy saw further momentum in October on the back of goods and services tax (GST) rate rationalisation and festival spending, as indicated by high-frequency indicators, the Reserve Bank of India's (RBI's) monthly State of the Economy report said.
Deductions missed in Form 16 can still be claimed while filing ITR.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
The life and non-life insurance industries are hopeful of a reduction in the goods and services tax (GST) on health and life insurance premiums, after Prime Minister Narendra Modi, in his speech on Friday, announced GST relaxations aimed at providing relief to ordinary citizens, farmers, the middle class, and the small and medium enterprises (MSME) sector.
'Uncertainty level A in the morning, uncertainty level B in the afternoon. If I answer about tariff rates now, I'll be outdated by the evening.'
Trade deals ease risks for Indian equities, but weak demand and stretched valuations raise questions over whether optimism -- especially in smallcaps -- can turn into a sustained bull run, points out Debashis Basu.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
Private sector lender IDFC First Bank has lowered its savings account rates and introduced new slabs for small and medium balance categories, effective January 9, 2025, as per its website. The interest slabs and rates for higher balance accounts remain unchanged. Despite the revision, the bank continues to offer one of the highest savings account interest rates in the industry among mid-sized banks.
'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
India's high cost of capital due to relatively shallow corporate bond markets, limited institutional investor depth, sovereign risk premia, and regulatory restrictions on capital flows, is a constraint on private investment and long-run growth, the Economic Survey, authored by Chief Economic Advisor (CEA) V Anantha Nageswaran, said.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
In another jolt to the famed Swiss banking industry, the US has started a formal probe against Credit Suisse for allegedly helping wealthy Americans to evade taxes.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
Lower rates effectively increase disposable income, strengthen purchasing capacity, and support broader consumption growth.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Festive buying spree unleashed by lower tax rates pushed gross GST collection to about Rs 1.96 lakh crore in October, registering a 4.6 per cent year-on-year growth -- the slowest rate so far this fiscal.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
The rationalisation of goods and services tax (GST), announced on Wednesday, directly lowers the cost of everyday medical consumables, and also high-end therapies in oncology and rare diseases, helping reduce out-of-pocket patient expenditure and better adherence to medication.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
Here's unlocking the real story behind your EPF's 8.25% interest and what it truly means for your retirement kitty.
'We currently have new proposals worth Rs 1.48 trillion in the pipeline.'
Following detailed questioning, journalist Mahesh Langa was arrested by the Crime Branch on Tuesday morning, Deputy Commissioner of Police (Crime) Ajit Rajian said. "The central GST had found some suspicious transactions in bogus firms floated in the name of Mahesh Langa's wife and father using forged documents. Langa has been arrested for further investigation," he said.
President Droupadi Murmu addressed the nation on the eve of Republic Day, emphasising India's role in promoting peace, the empowerment of women, and the country's economic growth.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
New lower GST rates kicked in from Monday, resulting in a slashing of prices of as many as 375 items ranging from toothpaste and shampoo to cars and television sets, a move seen as an attempt to boost consumption to cushion an economy facing tariff headwinds. Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates of 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
Nearly 96 per cent of new applicants will benefit from this simplified approval route.
