BJP leader V Muraleedharan dismisses claims that Prime Minister Narendra Modi would strike a deal with the Congress to target the CPI(M), stating Modi has 'better things to do'. He also questioned Kerala CM Pinarayi Vijayan's concern over ED raids if he has done nothing wrong.
Several politicians said they were not even aware of the provision in the UP Act.
In nation-wide raids on Wednesday, Income Tax sleuths swooped down on offices of Indian Premier League franchisees Kolkata Knight Riders, Chennai Super Kings, Deccan Chargers and Kings XI, and companies handling broadcast rights of the cash-rich cricket League.
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BJP state president Rajeev Chandrasekhar, contesting from Nemom, Kerala, declares assets exceeding 93 crore, including movable and immovable properties, ahead of the upcoming Assembly elections.
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The Reserve Bank of India (RBI) has announced a record surplus transfer of Rs 2.87 trillion to the central government for FY26, driven by increased income and an expanded balance sheet, despite a reduction in the contingent risk buffer (CRB) to 6.5 per cent.
It's tax time and you need to know your basics. . .
Pakistan has increased its defence budget by 17.6 per cent to PKRs 3,000 billion for the upcoming fiscal year, as announced by Finance Minister Muhammad Aurangzeb. The federal budget, estimated at PKRs 18,771 billion, targets 4 per cent GDP growth, with significant allocations for debt service and pensions. Prime Minister Shehbaz Sharif highlighted economic stability and ongoing discussions with the IMF, while the opposition protested Imran Khan's incarceration during the budget session.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
Ahead of the Union Budget 2026-27, Indian business houses have urged the government to make demergers tax-neutral, particularly in cases involving transfer of investments in associate companies with 25 per cent or more shareholding, under the new Income Tax Act. This may possibly help some companies planning to go public, according to a source.
The remarkable rise of smallcaps reflects the emergence of a broad set of specialised businesses operating in industries where the sectoral tailwinds remain considerably stronger than macroeconomic headwinds, points out Debashis Basu.
The Prime Minister's Economic Advisory Council on Wednesday favoured more income tax sops as also a revision in indirect tax rates on consumer durables in Budget 2008-09 to fire up the economy.
Forty years ago, an individual in the highest tax bracket (above Rs 70,000 per annum) had to pay 70 per cent income tax.
Now that you know what you must do BEFORE and WHILE filing income tax returns online, here's what you must do AFTER you have filed returns online.
Kerala police have arrested four individuals in connection with the violent attack on vehicles carrying Enforcement Directorate (ED) officials who raided former Kerala CM Pinarayi Vijayan's rented house. The arrests followed a stand-off with CPI(M) party workers and leaders.
The government on Tuesday extended till March 15 the deadline for corporate to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15. This is the third extension given to corporate for filing the income tax return for 2020-21 fiscal.
According to CNBC's list based on KPMG's 2011 survey of 96 countries, these eight nations don't have to pay any income tax to their government.
Because they can easily find them out by analysing your financial transactions.
A cross-country comparison shows that India currently has the lowest number of taxpayers.
One of the most effective methods of lowering the incidence of income tax is by means of legal transfer of your sources of income among as many family members as possible, so that each family member enjoys the basic personal income tax exemption limits.
About 250 income-tax sleuths conducted searches at 20 hospitals in Chennai alone
The Maharashtra Anti-Terrorism Squad (ATS) is investigating a bogus religious trust in Beed that received funds from a controversial international organisation, Chief Minister Devendra Fadnavis announced.
But the party favoured most of the proposals on indirect taxes.
Four Madhya Pradesh police officers have been suspended for allegedly accepting a bribe of Rs 20 lakh from a businessman in exchange for releasing Rs 1 crore found in his vehicle.
Proposal forms are often filled by the agent. Check the form after it is filled.
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.
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
Kerala Home Minister Ramesh Chennithala has alleged that the violent attack on Enforcement Directorate (ED) officials' vehicles was a conspiracy by the CPI(M) to disrupt law and order. The ED raids were linked to financial dealings between former CM Pinarayi Vijayan's daughter's firm and a sand mining company.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
Kerala Home Minister Ramesh Chennithala has condemned the violent attack on Enforcement Directorate (ED) officials' vehicles, alleging a CPI(M) conspiracy to disrupt law and order. He asserted that those involved will face stringent legal action, regardless of their status.
The actors have admitted to having assets beyond their known sources of income.
The income tax department will allow people to file 'belated return' until December 31.
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.
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.
