India bowling coach Morne Morkel backs Wankhede and Motera curators amid pitch debate, says preparing 200-plus surfaces late in season is challenging.
'Among corporates, about 60% of income is now reported under the new tax regime.'
The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
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 income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1.
Filing a belated return is far better than not filing at all.
The government on Monday extended the due date for filing income tax returns (ITRs) for Assessment Year 2025-26 by a day to September 16 as technical glitches disrupted filings on the last day. A record over 7.3 crore ITRs were filed till September 15, surpassing last year's 7.28 crore, the Central Board of Direct Taxes (CBDT) said in a post on X.
The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025.
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices. This follows this year's Union Budget move to reduce the time limit for tax reassessment from 10 years to five in cases of escaped income. The new provision becomes effective on September 1 and will make past assessments for AY 2018-19 time-barred.
'Every story I've told so far has left something with me. And I can't wait to find out what the next one does.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
More than 8 crore income tax returns for assessment year 2024-25 have been filed this year, of which 74 per cent taxpayers have opted for new tax regime, a source said. Also, around 75 lakh updated ITRs have been filed this year in high garnered additional taxes of Rs 8,000 crore.
The Income Tax department on Friday said it has made available the excel utility for ITR-1 and ITR-4 for AY 2025-26, which will enable taxpayers to file their income tax returns. "The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers," the Income Tax department said in a post on X.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
Taxpayers required to file ITR-2 or ITR-3 can now download the Excel utilities from the I-T department's e-filing portal, fill in their details offline.
In September last year, India received financial information from over 108 countries regarding foreign accounts and income in the form of interest and dividend earned outside India.
'We met Gulzar sahab at his residence to honour him with the Jnanpith Award. Gulzar sahab's son-in-law Govind Sandhu, filmmaker Vishal Bhardwaj, his wife Rekha, and a few writers were present on this occasion.'
Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices "to facilitate completion of pending departmental work.
On Friday, Kiara shared a photograph of a pair of baby socks and posted, 'The greatest gift of our lives... Coming soon.'
The income tax department on Saturday said it has launched a campaign to send messages to taxpayers who have not disclosed high-value foreign income or assets in their ITRs for AY 2024-25. The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their income tax returns (ITR).
'We are Indians irrespective whether we are Punjabi, Gujarati, Bengali, Malayali or Tamilian.' 'I am the best example of this integration.'
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Rajasthan Royals' 14-year-old opener Vaibhav Suryavanshi created history as he became the youngest ever to hit a century in the IPL.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
Among large states, the lowest rate of filing was seen in Bihar at 5 per cent, followed by UP at 8.11 per cent - much below the national average of 12 per cent.
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
The income tax department on Saturday extended the deadline for filing income tax returns by corporates by 15 days till November 15 for assessment year 2024-25. In a circular, the Central Board of Direct Taxes (CBDT) said the deadline will be extended from the earlier target date of October 31. The new deadline for Assessment Year 2024-25 (for furnishing tax returns for fiscal 2023-24) is November 15.
The 2025 Sony World Photography Awards has announced its National and Regional Award winners, celebrating talent from 56 countries.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
rediffGURU T S Khurana answers readers' personal income tax queries.
'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
Rahul will come in place of Baba Indrajith, who scored 9 and 6 and didn't look comfortable at all against pace and bounce, which wasn't exactly 125 clicks.
Manufacturing's share in the profit pool of companies had declined before the pandemic.
Co-owner Shah Rukh Khan was not present at the Eden Gardens but his kids Suhana and AbRam cheered for the Knights from the stands.
Many individuals filing tax returns declare zero tax liability. They accounted for two-thirds of the total individual returns filed.
The party has contested the reassessment proceedings, claiming they were barred by limitation.
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances