'Tax officials view most taxpayers as evaders.' 'The I-T department has a perverse incentive to raise unreasonable demands since the one-fifth tax collected counts towards officials' collection targets,' observes Harsh Roongta.
This is important because he is to be seen as a sure winner before criss-crossing the state to campaign for candidates of the party or an alliance, highlights N Sathiya Moorthy.
'India is a big market for StanC, and it is also fastest growing economy in the world.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Former World Player of Year Luis Figo has been ordered to pay around 2.4 million euros in income tax to the Spanish government from his time as a Barcelona player, the country's supreme court ruled on Wednesday.
New-age stocks to buy: Most new-age stocks have turned out to be wealth destroyers in stock markets, so far, in calendar year 2025. Shares of Ola Electric Mobility, for instance, have plunged nearly 50 per cent in the first half of CY 2025, while those of Swiggy, PB Fintech, Paytm, and Eternal (Zomato) have crashed between 6 per cent and 25 per cent, ACE Equity data shows.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
The Foxconn move may have been prompted by the Chinese government's focus on strengthening its supply chain.
S&P Global Ratings on Tuesday upped India's GDP growth forecast for the current fiscal to 6.5 per cent, citing lower crude prices, monetary easing and normal monsoon, and said the ongoing geopolitical tensions are unlikely to put a "significant pressure" on the rupee or inflation.
Hindalco's India business, including Utkal Alumina, reported good results for the January-March quarter of the financial year 2024-25 (FY25) and consolidated earnings before interest, taxes, depreciation, and amortisation (Ebitda) also rose. Earnings growth was driven by favourable pricing, lower input costs and lower tax outgo for Novelis.
In a move that could have implications for market share dynamics, the Securities and Exchange Board of India (Sebi) has permitted the National Stock Exchange (NSE) and the BSE to alter the days for settlement of equity derivatives contracts.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Benchmark stock indices Sensex and Nifty rebounded on Thursday after two days of decline, mirroring a rally in global markets as a US court blocked President Donald Trump's reciprocal tariffs. The 30-share BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02.
The share of EVs in the luxury segment rose from 7 per cent in January-May 2024 to 11 per cent during the same period in 2025, marking a 66 per cent growth in the electric luxury segment.
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
Find out if you are an 'assessee in default' and how it affects you.
The NCLAT has set aside a petition filed by the state tax department claiming dues from Reliance Communications (RCom) observing that it was based on the assessment made after the initiation of insolvency resolution process against the debt-ridden firm. A two-member NCLAT bench upheld the earlier order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had rejected the state tax department's second claim of Rs 6.10 crore. Corporate Insolvency Resolution Process (CIRP) against RCom was initiated on June 22, 2019. The state tax department had filed two claims.
InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Wednesday posted its highest ever fourth-quarter profit after tax of Rs 3,067.5 crore, mainly helped by strong air travel demand. The company's profit after tax in the three months ended March 2025 jumped 62 per cent from Rs 1,894.8 crore in the year-ago period.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
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.
According to sources in the Excise department, the Sahara Airlines, while submitting opinion of its Chartered Accountant on service tax, had allegedly backdated it to 2003 in which it was stated that Rs 1442 crore (Rs 14.42 billion) income from advertising services provided to its group company was not taxable under advertising services.
Finding solutions to address non-tariff barriers would be important for the proposed free trade agreement (FTA) between India and the European Union (EU) and both sides are actively working on resolving these issues, Commerce and Industry Minister Piyush Goyal said on Thursday. He said the two sides are "pretty" close to finalising the talks for the proposed free trade pact.
Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Telecom operator Bharti Airtel posted about a five-fold jump in consolidated net profit to Rs 11,022 crore in the March 2025 quarter, mainly due to the tariff hike impact and one-time gain on tax benefits. Bharti Airtel had posted net profit (attributable to owners of the parent company) of Rs 2,071.6 crore a year ago.
Filling of Rs 100 and Rs 200 notes result in faster depletion and more frequent cash replenishment. This will cost banks and managed service providers more.
Goods and Services Tax (GST) collection rose 12.6 per cent Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April, which the government said shows resilience of the Indian economy and the effectiveness of cooperative federalism. The gross GST mop-up was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since GST was rolled out on July 1, 2017. The net mop-up was Rs 1.92 lakh crore.
The disbursement of the second tranche comes on a day when the International Monetary Fund is holding virtual discussions on Pakistan's upcoming budget, as the visit of its mission to Islamabad was delayed due to security concerns in the region.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
Inflows into gold exchange-traded funds (ETFs), which manage a total of Rs 37,390 crore, have surged sharply in recent months. This trend is likely to continue, especially after the reintroduction of long-term capital gains tax (LTCG), which is likely to attract smart money into mutual fund offerings amid a robust outlook for the yellow metal. Smart money, also known as opportunistic flows, refers to strategic investments that are generally of a short-term horizon.
A total of 45 kilograms of pure gold has been used in the construction of the Ram Temple in Ayodhya, according to Nripendra Mishra, the chairman of the Ram Temple Construction Committee.
Marico reported consolidated revenue growth of 20 per cent year-on-year (Y-o-Y) during the January-March quarter (Q4) of FY25. Domestic revenue surged 23 per cent Y-o-Y, while volume growth was 7 per cent. International growth stood at 11 per cent (16 per cent in constant currency growth).
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.
Net direct tax collection grew 19.54 per cent to over Rs 5.74 lakh crore so far this fiscal on higher advance tax payment by corporate. The first instalment of advance tax, which was due on June 15, rose 27.34 per cent to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) at Rs 1.14 lakh crore and Personal Income Tax (PIT) at Rs 34,470 crore.
Automotive (auto) major Tata Motors posted a 51 per cent drop in consolidated net profit for the January-March quarter (Q4) of 2024-25 (FY25), to Rs 8,470 crore, due to a deferred tax asset of almost Rs 9,000 crore in the corresponding quarter of the previous financial year and an exceptional item of Rs 566 crore during the quarter. Revenue was up just 0.5 per cent year-on-year (Y-o-Y) at Rs 1.18 trillion for Q4FY25.
From the Sensex firms, Tata Steel, Eternal, Tech Mahindra, Maruti, Mahindra & Mahindra, Infosys, IndusInd Bank, HCL Tech, Tata Consultancy Services and Bharti Airtel were the major gainers. Telecom operator Bharti Airtel climbed nearly 1 per cent after it posted about a five-fold jump in consolidated net profit to Rs 11,022 crore in the March 2025 quarter, mainly due to the tariff hike impact and one-time gain on tax benefits. However, Asian Paints, Tata Motors, Kotak Mahindra Bank, NTPC and Power Grid were among the laggards.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
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