Of the people whose data the income tax department now has, email and SMS queries have been sent to 13 lakh people.
When it comes to a significant investment like a four-wheeler, many people end up paying high interest rates on car loans which can lead to high monthly installments.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Do you have health insurance/mediclaim queries? Rakesh Kaul, chief distribution officer, Edelweiss General Insurance, will answer your queries.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
MSI chairman R C Bhargava said auto sector would like to see GST benefits linked to greener/cleaner cars. The government gave tax cut on EVs but hybrid should be given duty cut. There should be tax cut on CNG vehicles.
Tax saving mutual fund schemes invest in the stock markets and therefore carry risk as compared to say a PPF or a NSC.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
No attention to detail seems to have been paid while introducing such a major provision and the wide arc of people it will take in its ambit, states Harsh Roongta.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
Incoem tax form will be far more simpler from now onwards.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'We have not hijacked the party, the NCP and the Congress have hijacked it'
Central Board of Excise and Customs Chairperson Vanaja Sarna said there will be genuine errors due to lack of understanding in the initial days. "CBEC has enforcement authorities and I have specifically said that the first three to six months are a go-slow.... I don't want small cases to be made," Sarna said at a CII event.
'I started reading your MF articles regularly so requesting your guidance as I would like to start investing in MFs'.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Home loan expert Harsh Roongta answers readers' home loan queries.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
We take up for discussion the tax exemption you can claim from your house rent allowance.
It is difficult for an NRI to get a loan in India, says personal finance expert Harsh Roongta.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Income tax online return accounts of certain people have been unauthorisedly accessed, the Finance Ministry has warned.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
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