The sanctioned strength of department is 57,793 while the working strength is 40,756; thus a shortfall of 29.47 per cent, the Minister of State for Finance S S Palanimanickam informed the Lok Sabha in a written reply.
The first step in tax saving through family tax planning is to adopt the concept of divide and rule. The simple rule is that each family member must have his or her independent source of income so as to legally become an independent tax payer under the provisions of the income tax law. Under the income tax law it is not possible to arbitrarily divide one's income amongst different members of the family - and then pay lower tax in the names of different family members.
TVK chief Vijay declared assets worth 603.20 crore in his election affidavit, including luxury cars and significant bank deposits, ahead of the Tamil Nadu Assembly polls.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
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 new Income Tax return forms are much simpler in many respects.
Three former AIADMK ministers, Dr C Vijayabaskar, M R Vijayabaskar, and M S M Anandan, along with their supporters, have joined the ruling Tamilaga Vettri Kazhagam (TVK), prompting the DMK to label the move as 'washing machine' politics, referencing allegations of corruption against the defectors.
Finance Minister Pranab Mukherjee on Monday said that he proposes to exempt the income of New Pension System Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax.
Around 80 lakh women in Maharashtra have been disqualified from the Mukhyamantri Majhi Ladki Bahin scheme after failing to meet the e-KYC deadline, leading to accusations from opposition parties that the state government is reducing beneficiaries due to financial constraints.
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
With the click of a mouse you could now check the status of your income tax refund online. The Income Tax department has introduced online availability of information regarding one's tax refund.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
Individuals now need to mention a unique transaction number against every tax deducted at source entry.
You don't need to be intimidated by the thought of filing tax returns
Income Tax Return forms in India are like the Golmaal series of movies. Every two years there is a new one.
The FM proposed a rule-based automated process for small taxpayers in FY27 Budget.
The Asian Development Bank (ADB) has revised down India's GDP growth forecast for fiscal year 2026-27 (FY27) to 6.6 per cent from an earlier 6.9 per cent, primarily attributing the change to elevated energy prices stemming from the Middle East conflict. Despite this moderation, India is still expected to remain the world's fastest-growing major economy.
Authorities have put forward a tax demand of Rs 2,080 crore.
Yuzvendra Chahal's impressive bowling performance and Yash Dhull's explosive batting were among the highlights of the opening day of the DY Patil T20 Cup.
The new income tax returns form, ITR-1, is relatively simpler than Saral. Here is a lowdown on what salaried individuals will now have to cope with.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
In this article we shall discuss four preliminary steps to be taken for filing your income tax return accurately and correctly.
Here's the procedure of getting your income tax refund quickly which you have not been able to get within stipulated time.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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.
Government Railway Police (GRP) recovered Rs 1.75 crore in cash from two passengers on the Akal Takht Express at Pandit Deendayal Upadhyay Railway Station in Chandauli district, Uttar Pradesh. The passengers, residents of Lucknow, claimed the money was related to their diamond and jewellery business, but police are investigating further.
In order to avoid late payment, interest and penalty know these things before filing income tax returns...
Since the actor was busy with the shooting of Malayalam film Pranayam at Rameswaram, the IT authorities asked him to come to Kochi to record his statement today.
With filing possible only online, there is no scope for any error.
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The most common mistake is investing without assessing suitability and long-term implications.
Forget the never-ending forms and the paperwork, be ready to pay your taxes at your nearest ATM
Net direct tax collection grew about 8.82 per cent to over Rs 18.38 lakh crore in the current fiscal till January 11 due to slower refunds and better corporate tax mop-up.
