From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts.
The most common mistake is investing without assessing suitability and long-term implications.
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Exchange Traded Funds (ETFs) have stepped into the spotlight this quarter. With evolving market conditions and shifting investor sentiment, ETFs offer a timely solution for accessing growth with liquidity and efficiency. In this article, we break down the most important ETF trends, performance drivers, and what to watch in the months ahead.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Non-resident Indians (NRIs) haven't gone big on the Indian stock market story despite the post-pandemic boom. While domestic participation through mutual funds (MFs) and dematerialised accounts has soared, NRI participation figures show limited signs of a similar rise.
'Amazon, Meta, Google, Microsoft have large operations in India and rely on smooth trade and data flows.' 'Restrictions could raise their costs, limit AI chip exports, and complicate their India strategies.'
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
'Removing Nitish Kumar prematurely risks unsettling both the alliance balance and parts of the social coalition that delivered this victory.'
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The Union government is expecting to rake in Rs 100-200 crore in additional revenue from Pillar Two, only under specific circumstances, a senior finance ministry official said requesting anonymity. It is proceeding cautiously, and is unlikely to implement rules anytime soon, the source said.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
P K Mishra, a retired IAS officer of the Gujarat cadre, is currently serving as the principal secretary to the prime minister.
Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class. The Budget 2023-24 has proposed changes in the optional tax regime, which was introduced in 2020-21. Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
'Tax rate and stock markets are entirely two different things.'
rediffGURU T S Khurana answers readers' personal income tax queries.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
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.
