'There is a challenge in repositioning yourself, maybe reinventing yourself.'
About 250 income-tax sleuths conducted searches at 20 hospitals in Chennai alone
The loss of input tax credit (ITC) following the rationalisation of the goods and services tax (GST) on individual life and health insurance from 18 per cent to nil is may weigh on the profits of life insurers in the third quarter (Q3) of 2025-26 (FY26).
The Income Tax Department has clarified that the deadline for ITR filing for Assessment Year 2025-26 is September 15 and there is no further extension as circulated on social media. In a late night post on X on September 14, the department termed "fake" a statement in circulation on social media stating that the due date of filing ITRs has been further extended to September 30, 2025.
This is as easy as it gets and all one needs to do is to enter the PAN number and the assessment year on this site to access the current position of the tax refund.
But the party favoured most of the proposals on indirect taxes.
A banking Trojan malware has been detected in the Indian cyberspace that is lurking to attack bank customers using Android phones and has already targeted those from more than 27 public and private sector banks, the country's federal cyber security agency said in a latest advisory.
The actors have admitted to having assets beyond their known sources of income.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
rediffGURU T S Khurana answers readers' personal income tax queries.
In a relief to individual tax payers, the government on Friday changed the slabs cutting the rate to 10 per cent for income up to Rs five lakh, while leaving the threshold limit for tax-free income unchanged at Rs 1.6 lakh.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
Of the 926 bank branches, 862 branches are public bank branches, 35 HDFC bank branches, 10 ICICI bank branches and 19 Axis bank branches.
In a pre-Budget wishlist, Vinod Juneja, managing director, Braj Binani Group, said, "I expect the finance minister to target the GDP growth of at least 8% or higher for the next 3 financial years."
BJP leader Subramanian Swamy on Sunday urged the Centre to do away with the system of collecting income tax and instead find out other means to raise money to the exchequer.
'Foreign capital will continue to come directly into India, but companies have realised that GIFT City is a more cost-efficient way of channelling funds.'
The income tax authorities on Thursday conducted raids at seven places in Mumbai, a senior official said.
India's net direct tax collections contracted 1.3 per cent to about 5.63 trillion as of July 10, with corporate taxes dropping 3.7 per cent and non-corporate taxes recording a fractional 0.04 per cent contraction, Income Tax department data released on Friday revealed.
The duty, which is charged at the rate of 10 per cent, is payable in currency of the nation where the gold was bought.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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'.
The Supreme Court of India has struck down key provisions of the 2021 Tribunals Reforms law, citing violations of separation of powers and judicial independence. The court restored earlier directions on tenure for tribunal members.
After Ministry of Corporate Affairs, the Income Tax department too has launched a probe to trace the source of funding of various firms that invested in Bharatiya Janata Party president Nitin Gadkari's company Purti Power and Sugar Limited.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
ArthaKranti wants the government to abolish income tax and 56 other taxes and replace it by a banking transaction tax.
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The income tax department website which is used by lakhs of tax payers to file their returns online will soon be revamped along with a new website address or URL.
The "huge mountain of debt" in developed economies and the risk of a possible unravelling is a matter of concern for India, Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw said on Wednesday, pointing to the recent spike in Japanese bond yields.
Tax consultant Mahesh Padmanabhan throws light on six reasons why you must file your tax returns and then lists out the virtues of why you must not hide interest income earned while filing tax returns.
In a bid to make tax collection paperless and hassle-free, Centre will start E-refund of income tax from April, having put in place E-filing of tax deduction at source and tax information network.
Here's a list of countries with no personal income tax.
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
A group to study simplification of laws relating to income tax has recommended removal of redundant provisions and use of simple language.
'People become guided by emotions, fear of missing out, and greed. They tend to invest in booming sectors that may prove exceptionally expensive.' 'Typically, that represents the peak, and subsequently, they lose substantially.'
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
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.
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