If not, an assessee might be charged interest for not paying TDS on time.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
Eight teachers in Maharashtra's Beed district have been suspended for allegedly using false hearing impairment claims to obtain government benefits. An inquiry revealed discrepancies in their disability certificates, leading to departmental action.
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.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
Through his commitment to democratic norms, debate, dissent and constitutionalism, Jawaharlal Nehru helped ensure that parliamentary democracy took deep root in independent India. Utkarsh Mishra evaluates Nehru's 17 years as India's first prime minister, examining his role in nation-building, democratic institution-building, economic planning, scientific advancement and foreign policy.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
A brother and sister, allegedly involved in 31 criminal cases of theft and snatching, were arrested in Delhi after a mobile phone snatching incident.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Trump paid no income taxes at all in 10 of the previous 15 years largely because he reported losing much more money than he made, the report said. The US president immediately dismissed the report as 'totally fake news'.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
India's online retail market concluded 2025 with electronic retail (e-retail) gross merchandise value (GMV) reaching $65-66 billion, a 19-21 per cent increase, according to a report by Bain & Company and Flipkart. This growth is significantly driven by GenZ shoppers and the rapid expansion of quick commerce, which has emerged as a global leader.
Former chief secretary Vinit Chowdhary has criticised Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu over his handling of graft allegations in the Chester Hill housing project.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
Congress chief Mallikarjun Kharge's remark calling Prime Minister Narendra Modi a 'terrorist' has triggered strong reactions from the BJP, who have demanded an apology from Congress leader Rahul Gandhi and Tamil Nadu Chief Minister M K Stalin.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
The Budget offers a limited-time regularisation window with clear thresholds, defined payments, and immunity from penalty or prosecution.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
'In investing, poor sentiment is always a good vintage to build a portfolio.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Indian economy is likely to grow at 7.4 per cent in 2025-26, up from 6.5 per cent in the previous fiscal, mainly on account of better performance of manufacturing and services sectors, as per the government data released on Wednesday.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
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.
The ongoing agitation by income-tax officials has affected search and seizure operations of the department.
Taxpayers might face several issues while filing returns this year.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Makers of spirits, beer, and wine are working to identify new markets of growth as two of the industry's biggest liquor markets, Maharashtra and Telangana, remain embroiled in taxation and payment issues.
A huge cadre restructuring in the I-T department, with the creation of over 20,700 posts recently, has brought about a number of changes in the existing jurisdictions of assessing officers of the department across the country.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
HDFC Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
'Tax officials view most taxpayers as evaders.' 'The I-T department has a perverse incentive to raise unreasonable demands since the one-fifth tax collected counts towards officials' collection targets,' observes Harsh Roongta.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
