India is faced with a unique opportunity highest increase in working age (15-64) population over the next 20-30 years which can propel economic growth. India will account for 25 per cent of the global increase in workforce over the next 4 decades.
The committee has been asked 'to study and identify the provisions.
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'.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
Concerned over the high outstanding wealth tax and income tax, Finance Minister Jaswant Singh said as against a tax demand of over Rs 70,670 crore, the net collectable demand stood at only 35 per cent of the total amount.
Can't believe you can file your income tax return without Form 16? Read this...
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
GDN has a fascinating genius at its centre, but Madhavan's terrific performance is let down by a repetitive, overly familiar biopic treatment.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
There are some solid reasons for acquiring a PAN card (if you don't have one) and filing your ITR within the due date, which is 31st July every year.
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.
rediffGURU T S Khurana answers readers' personal income tax queries
Indian companies are increasingly turning to share buybacks as a preferred payout strategy, driven by recent tax framework changes that make them more tax-efficient for non-promoter shareholders and a fall in stock prices.
The 52-year-old, who started as a helper, has been in the business for the last 35 years. Today, assisted by his wife and a team of seven workers, Sakhare sells about 50 kgs of poha (made out of flattened rice), serving 1,000- 1,200 people daily, which fetches him over Rs 100,000 a month.
Indian benchmark indices, Sensex and Nifty, opened higher on Friday, primarily driven by a significant surge in Bajaj Finance shares following its strong Q1 FY27 earnings report, coupled with continued foreign fund inflows and a dip in crude oil prices. Track Sensex, Nifty on July 31.
Non-profit organisations set up for charitable purposes may see a tightening of income tax provisions.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
N Chandrasekaran, chairman of Tata Consumer Products (TCPL), stated that India continues to experience credible economic growth, driven by strong demographic fundamentals and accelerating digital public infrastructure, despite a fragmented global landscape.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
Bihar on Wednesday witnessed a pitched battle between hundreds of student activists demanding Union minister Dharmendra Pradhan's resignation and the police, which used tear gas shells, water cannons and batons in a bid to prevent their 'Lok Bhavan march'.
'A balance had to be struck between the economic cost of taking action at this point against the need not to fall behind the curve in controlling inflation and anchoring inflation expectations.'
In a major relief to tax payers, the Union Budget for 2005-06 on Monday altered income tax brackets.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The Union Cabinet dropped the condition laid by previous government to exempt income tax payers from Haj subsidy.
The FM proposed a rule-based automated process for small taxpayers in FY27 Budget.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
We attempt to demystify for the salaried class the two main ITR forms applicable in their case, i.e. Forms ITR-1 and ITR-2.
'Every period of excessive optimism eventually gives way to a correction, while periods of extreme pessimism often create the best investment opportunities.'
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
If you are a salaried person, you will be filing your returns using the new income tax return form, ITR. Do you think the ITR is simpler than Saral? Or are there drawbacks in the new ITRs? Tell us.
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
Indian benchmark indices Sensex and Nifty recorded their third consecutive day of gains, primarily driven by an over 8 per cent surge in Bajaj Finance following strong Q1 FY27 results, coupled with significant foreign fund inflows and a dip in crude oil prices.
Voltas has announced a joint venture with Atomberg Innovation to manufacture high-efficiency room air conditioner (RAC) compressors, aiming to strengthen localisation and supply-chain resilience. Despite significant volume growth in RACs, the company's margins remain a key concern for analysts.
Finance Minister Pranab Mukherjee is not in a mood to cut taxes but may continue with stimulus in the budget for 2011-12, feel industry representatives who met him for Pre-Budget interactions.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
