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'.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
Maharashtra Minister Sanjay Shirsat received an Income Tax notice regarding an increase in his assets between the 2019 and 2024 elections. He initially claimed MP Shrikant Shinde also received a notice but later retracted the statement.
The Supreme Court has sought responses from the Centre and others on a plea challenging the validity of a provision of the Income Tax Act that allows political parties to receive "anonymous" cash donations below Rs 2,000.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
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.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
Bank of Baroda economists project India's GDP to grow 6.5-6.8 per cent in FY27 but warn that the fiscal deficit could overshoot the budgeted 4.3 per cent target, potentially reaching 4.7-4.8 per cent of GDP due to subsidy overruns, excise duty cuts, and oil marketing company losses.
Among its 27 recommendations for the Union Budget is this: It has suggested that equity investments held for more than one year and up to three years should be taxed at 12.5 per cent on gains exceeding 2 lakh in a financial year.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
The committee has been asked 'to study and identify the provisions.
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.
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.
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.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
A systematic withdrawal plan doesn't drain wealth, poor planning does. Ramalingam Kalirajan explains the truth behind systematic withdrawal plans
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.
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.
Non-profit organisations set up for charitable purposes may see a tightening of income tax provisions.
'In investing, poor sentiment is always a good vintage to build a portfolio.'
Indian insurance companies are bracing for reduced profitability in Q4FY26, primarily due to the rationalisation of GST on retail life and health policies, leading to a loss of input tax credit, coupled with volatility in equity markets impacting investment income.
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.
Godrej Consumer Products Ltd (GCPL) delivered a robust Q4FY26 performance, with steady demand in India and signs of stabilisation in international markets, despite persistent inflationary pressures. The company expects to maintain profitability in FY27 through strategic cost management and pricing adjustments.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
Rajya Sabha MP Raghav Chadha refutes allegations of inaction in Parliament, asserting his commitment to raising public issues and creating impact.
As the voting process for the new Conservative Party leader formally opened with postal ballots being mailed out to Tory members from Monday, Rishi Sunak vowed to cut the basic rate of income tax by 20 per cent in a few years if he is elected Britain's prime minister.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
In a major relief to tax payers, the Union Budget for 2005-06 on Monday altered income tax brackets.
The Union Cabinet dropped the condition laid by previous government to exempt income tax payers from Haj subsidy.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
The signing of Pakistani spinner Abrar Ahmed by Sunrisers Leeds in The Hundred auction has ignited controversy, drawing criticism from figures like Lalit Modi and Sunil Gavaskar due to the historical exclusion of Pakistani players from the IPL and concerns over financial contributions to Pakistan.
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.
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
