SC seeks Centre's response on plea against anonymous political donations

The Supreme Court on Monday sought responses from the Centre and others on a plea which challenged the validity of a provision of the Income Tax Act that allows political parties to receive......

Want To Donate To A Political Party? Read This!

Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN. Kindly note this illustration generated using Microsoft Copilot is only posted......

Rs 7,500 for up to 500 km: Govt caps airfares amid IndiGo chaos

The government on Saturday capped the airfares in the range of Rs 7,500 to Rs 18,000 depending on the distance amid soaring air ticket prices due to the IndiGo flight disruptions. IMAGE:......

Over 800 IndiGo flights cancelled on day 5 as cancellation chaos persists

Domestic carrier IndiGo cancelled over 800 flights on Saturday, the fifth day of the ongoing crisis, even as the government imposed a cap on airfares and directed the airline to process all refunds......

India's net direct tax receipts down 1.3%, corporate taxes slip 3.7%

India’s net direct tax collections contracted 1.3 per cent to about Rs 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04......

Outlook gloomy for corporate share in direct tax mopup

Companies may foot less of the tax bill for some time yet. Illustration: Dominic Xavier/Rediff.com The corporate share of net direct tax collections has been lower in 2024-25 than in previous......

Net direct tax collection dips 1.39% to Rs 4.59 lakh cr in Apr-Jun

Net direct tax collection so far this fiscal stood at Rs 4.59 lakh crore, 1.39 per cent lower compared to the mop-up during the corresponding period of last fiscal, as advance tax collections......

Tax forms for charitable institutions set for overhaul

As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions.......