The CBI has arrested an Income Tax superintendent in Odisha, Ramesh Kumar Mohanty, for allegedly accepting a bribe of Rs 4,000 to delete a duplicate PAN card record. He was caught red-handed after a complaint was filed, and a case has been registered under the Prevention of Corruption Act.
A special CBI court in Thane acquitted an Income-Tax officer accused of demanding a bribe, citing lack of proof of illegal demand and contradictory evidence.
A court in Thane acquitted a suspended Income Tax Officer and his wife in a 2007 disproportionate assets case, criticising the CBI for a flawed investigation.
The Income Tax department has enabled online filing for ITR-1 (Sahaj) and ITR-4 (Sugam) for the Assessment Year 2026-27, allowing small and medium taxpayers to file returns for income earned in the 2025-26 fiscal year.
The Delhi High Court has ruled that an individual cannot obtain details of their spouse's income from authorities by filing an application under the Right to Information (RTI) Act.
The Pension Fund Regulatory and Development Authority (PFRDA) has launched a new Retirement Income Scheme (RIS) and drawdown options under the National Pension System (NPS), offering greater flexibility for managing pension savings post-retirement. Additionally, PFRDA has eased annuity surrender rules, allowing exits in cases of critical illness or for older contracts with explicit surrender clauses.
With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
The Allahabad High Court has ruled that a husband's obligation to pay maintenance to his estranged wife is not negated by her parents' financial support. The court overturned a family court's decision, emphasising that parental income cannot substitute a husband's legal duty and enhanced maintenance for both the wife and children.
Rising income feels like success but unchecked lifestyle inflation traps urban professionals into financing a more expensive version of living paycheck-to-paycheck -- buying material upgrades instead of true future financial freedom.
The Income Tax Department conducted searches at multiple locations in Kolkata, including the residence of TMC MLA Debashis Kumar and Miraj Shah, a proposer of Mamata Banerjee's candidature. The TMC alleges the raids are politically motivated.
The Uttar Pradesh government announced it has paid a record Rs 3,21,963 crore to sugarcane growers since 2017, emphasising on-time payments and direct transfers to farmers' accounts. The government highlighted initiatives like farm loan waivers and the 'Smart Ganna Kisan' system for online sugarcane management.
The Uttarakhand High Court has ruled that a father cannot avoid his responsibility to provide maintenance for his minor child by claiming the mother's income or his own financial obligations.
The US Department of Homeland Security has proposed a nearly 75 per cent increase in the filing fee for Form N-400, the application for US citizenship through naturalisation, raising it from $760 to $1,330. The proposal also seeks to eliminate reduced-fee options and fee waivers, potentially impacting thousands of immigrants, including Indians.
Many students who do well in the NEET exams miss out on a medical seat because they didn't get their documentation in order. You don't want to be that student, says Ashok Hegde.
The Indian government has dismissed concerns that the use of E20 fuel could affect the validity of vehicle insurance policies, stating that the ethanol blending programme remains safe, consumer-friendly, and economically beneficial.
Taxability in property transactions depends on the actual source of funds and beneficial ownership, not on whose name appears in the purchase agreement.
Algo strategies must be registered with stock exchanges.
The Income Tax Department has released all income tax return (ITR) forms for the assessment year 2026-27, enabling individuals, businesses, and other entities to begin filing their returns for the financial year 2025-26.
A simple SIP-first approach can help reduce debt, avoid EMIs and build lasting financial freedom through disciplined spending, advises Ramalingam Kalirajan
The International Tennis Federation (ITF) has rebranded as World Tennis, announcing an ambitious vision to increase global participation by 30% to 140 million players by 2035. The organisation, which governs the sport and runs major competitions, plans to reinvest 85% of its income annually for the next decade to achieve its strategic goals, including powering future stars and elevating national competitions. The name change aims to enhance recognition and foster greater collaboration within the sport.
Union Minister Shivraj Singh Chouhan informed the Lok Sabha that government initiatives in the agriculture sector have doubled farmers' income through measures like MSP and fertiliser subsidies.
'AIS helps taxpayers check whether all income streams and reportable transactions -- such as interest from old bank accounts, small dividend receipts or transactions across multiple brokers -- have been properly disclosed.' 'Mismatches between these transactions and declared income may trigger automated notices or scrutiny.'
Udaipur's Dilip Shah reveals why he is so proud of his father. A Father's Day Special.
Lending is no longer just about what you've done. It is about how you manage money over time, says Mohit Jain, Co-founder, Finfinity.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
A key mistake would be continuing to rely on provisions of the Income-Tax Act, 1961, where the new law now applies, and vice versa.
As the rupee weakens, wealthy families are accelerating investments in global assets.
The Allahabad High Court has quashed a magistrate court's order rejecting a woman's plea for her husband's income and property details in a domestic violence case, ordering a fresh review and emphasising the importance of income disclosure in such cases.
Despite the Reserve Bank of India's (RBI) and the government's recent initiatives to attract foreign capital, which are expected to alleviate pressure on long-duration bonds, most debt fund managers are maintaining a cautious stance, favouring shorter-duration papers due to global uncertainties and potential future rate hikes.
An Ahmedabad court has convicted the wife of a former Income Tax Officer in a disproportionate assets case dating back nearly two decades. The husband, also an accused, died during the trial.
Jammu and Kashmir seamer Auqib Nabi's impressive four-wicket spell with the second new ball helped India 'A' secure a substantial 122-run first-innings lead against Sri Lanka 'A' on day three of the opening 'Test'. Sri Lanka 'A' were bowled out for 330 after being in a strong position, with India 'A' further consolidating their lead to 170 runs by stumps.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
Prism, the parent company of OYO, has filed updated draft papers with Sebi for a Rs 6,650 crore initial public offering (IPO) consisting entirely of a fresh issue of shares, with no offer-for-sale component from existing investors.
Investors should do thorough due diligence when selecting a platform.
The Supreme Court dismissed a petition challenging the exorbitant fee structure in private medical colleges in Rajasthan, stating that self-financing institutions cannot be expected to charge the same fees as government institutions. The court emphasised the country's need for doctors and upheld the Rajasthan High Court's decision.
The Ram Janmabhoomi Teerth Kshetra Trust secretary, Champat Rai, has declined to provide financial details, including income, expenditure, and donations, citing an ongoing Special Investigation Team (SIT) probe. This decision follows a complaint to the Prime Minister's Office by BJP leader Rajneesh Singh, seeking transparency on the utilisation of funds for the Ram temple project.
About 45 km from the tech hub of Bengaluru, the Karnataka government is planning a mega artificial intelligence (AI)-powered city with a budget of more than Rs 18,000 crore. To be spread over 9,000 acres, the project aims to follow the theme "Work, live, play" with technology as its core. At the centre of it are, however, thousands of farmers who are protesting against land acquisition by the government.
Too many EMIs draining your salary? Ramalingam Kalirajan explains the safe borrowing limit that protects your income from a dangerous debt trap.
