Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as part of their probe into alleged tax evasion.
The most common mistake is investing without assessing suitability and long-term implications.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
Amid the arithmetic of subsidies, consumption and capacity, whichever government assumes office in Tamil Nadu after May 4 is likely to inherit a growing debate over how far the state can continue to expand welfare promises without placing additional strain on public finances and the power sector.
Oil-marketing companies (OMCs) are set to significantly expand the sale of flex fuel (E85) across India, with plans to reach 5,000 outlets in major cities by the end of next year, according to Petroleum Minister Hardeep Singh Puri. This move aims to boost ethanol demand, reduce crude oil imports, and cut carbon emissions, coinciding with the launch of India's first flex-fuel vehicles by Maruti Suzuki and Hero MotoCorp.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Maharashtra government sanctioned over Rs 1 crore for development works at a temple linked to Ashok Kharat, a self-styled godman accused of rape, in 2018. The funds were approved under the regional tourism development scheme. Kharat was arrested on March 18 after being accused of repeated rape.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
CPI(M) leaders have strongly criticised the ED raids on former Kerala CM Pinarayi Vijayan and others, alleging political motivation and a conspiracy by the BJP and Congress. They claim the raids are an attempt to intimidate the party and its leaders, and have vowed to fight back against what they see as a politically fabricated case.
Prepare your replies with expert help, if necessary. Keep relevant documents ready to support your replies.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Sleuths from the department swooped down on seven locations across Mumbai city, including Jeetendra and daughter Ekta's residences.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
Immigrants' contribution to the US economy is disproportionate to their share of the population, meaning that losing them would shrink the economy even more than losing a random group of Americans, points out Sree Sreenivasan.
According to official sources, complaints were received by the department that TDS was being collected arbitrarily by the payers. Another reason for this decision is that refunds from the department have also gone up. Sources said it should not affect the assessee who may be paying a high rate of TDS and is not compensated even after the employer or broking firm or any other organisation gets a refund on higher rate of TDS which may not be applicable to such income.
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
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.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
Delhi Police have dismantled a cyber fraud operation that swindled a railway employee out of approximately Rs 60,000 under the guise of an online lottery. The investigation led to multiple arrests and uncovered a network using fake identities to open bank accounts for illicit transactions.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
rediffGURU T S Khurana answers readers' personal income tax queries
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.
The details that you file regarding your income, investments and tax exemptions are verified by the Income Tax department with the details obtained as per your Permanent Account Number records.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
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.
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.
A brother and sister, allegedly involved in 31 criminal cases of theft and snatching, were arrested in Delhi after a mobile phone snatching incident.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
The Central Information Commission will seek a report from Income Tax department and Directorate of Estate regarding tax exemptions claimed by political parties and their assets to ascertain whether there is enough indirect funding from the government to bring them under the ambit of RTI Act.
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.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
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.
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.
Traders were producing fake purchase and sale billing receipts and also availing multiple loans on one consignment.
If not, an assessee might be charged interest for not paying TDS on time.
