The net direct tax collections jumped by 18 per cent to Rs 43,391 crore during the first two months of the current fiscal.
'This is also a time when you realise that short-term trading and dabbling in derivatives may result in financial losses.'
This brings its tax treatment on par with the Prime Minister's National Relief Fund.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
'Peninsular Indians could ask 'Why should we contribute half of India's tax revenues if we account for only a quarter of the seats in the Lok Sabha?'.' 'The rest of the country seems likely to counter that 'democracy means one vote per person irrespective of where that person resides in India'.' 'With no easy answers to this thorny debate, the south's economic ascendancy could end up creating a Hobson's choice.' A revealing excerpt from Nandita Rajhansa and Saurabh Mukherjea's book, Behold the Leviathan: The Unusual Rise of Modern India.
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
The UK's prime ministerial race frontrunner, Rishi Sunak, spoke of his pride in what his Indian parents-in-law -- Infosys co-founder Narayana Murthy and Sudha Murty -- had achieved, as he fought back over media commentary around wife Akshata's family wealth.
Seems daunting? With right financial planning, patience, and commitment, this goal is entirely achievable, says Ramalingam Kalirajan. Here's how
'Within India, people want high-quality, personalised banking services, and the demand for such services has exploded.'
These officers also have been divested of their current duties on charges of violating Rules 9 and 3(1)(xx) of the Central Civil Service Conduct Rules.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The income tax department has garnered about Rs 4,600 crore in taxes from 56 lakh updated I-T returns filed by taxpayers in the past two years, Central Board of Direct Taxes (CBDT) chief Nitin Gupta said. In a post budget interview to PTI TV, Gupta also said the I-T department has set up a demand management centre at Mysuru, Karnataka, which is focusing on disputed pending large tax demands of above Rs 1 crore. "We are continuously improving the services and creating litigation free environment. We have come out with a facility for updation of return.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
China, mindful of its global image, has rebutted as 'inaccurate' the recent 'Tax Misery Index' released by Forbes, asserting that the nation's macro tax burden remains 'relatively low' compared with other countries.
'Expect India to keep doing well irrespective of geopolitics.'
Interest payment on home loans could become fully taxable. Perks to be included in salary income and taxed.
Leaders who built and manage these incredible global companies cannot be tyrants, slave-drivers, or idiots. Essentially what they are saying falls under the definition of rallying the troops, inspirational talk, like the usual coach-speak with the team before a match, asserts Shekhar Gupta.
FBT was an unpopular tax and withdrawn before the General Elections in 2009
If you lack an emergency fund or it is depleted, use part of your bonus to build or replenish it.
'Arbitrage funds make the most sense for those in the 30 per cent tax bracket, are viable for those in the 20 per cent bracket, but less so for those in the 10 per cent bracket.'
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
Total market funds are ideal for long-term investors who prefer a simple, hands-off approach, making them suitable for those unwilling to manage multiple funds.
'Choose an equity allocation that will allow you to remain invested even if the market falls by 50 to 60 per cent.'
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
'Reduce your equity allocation, put that allocation into gold and fixed income.'
Taxable assets have been defined to include deposits in banks outside India.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The government's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, points out T N Ninan.
Fintech firm BharatPe is targeting an initial public offering (IPO) in the next 18-24 months with the company expecting profitability at an earnings before interest, taxes, depreciation and ammotisation (Ebitda) level for FY25, chief executive officer (CEO) Nalin Negi said.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
However, personal income tax collections were down 0.41 per cent at Rs 83,178 crore (Rs 831.78 billion) during the period compared to Rs 83,524 crore (Rs 835.24 billion) in the same period last fiscal.
The government on Tuesday said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period.
Younger investors with long investment horizons may continue their SIPs.
Isn't the goal of retirement planning to create a balanced portfolio that aligns with your financial goals, rather than chasing returns blindly, asks Ramalingam Kalirajan
Concerned over the high outstanding wealth tax and income tax, Finance Minister Jaswant Singh said as against a tax demand of over Rs 70,670 crore, the net collectable demand stood at only 35 per cent of the total amount.
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
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