The Enforcement Directorate has issued a fresh summons to Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan, for questioning on June 17 in a money laundering case involving Cochin Minerals and Rutile Ltd (CMRL). The probe focuses on alleged payments of Rs 2.78 crore from CMRL to Veena's IT firm, Exalogic Solutions, without services rendered, and loans from an associated company.
Former Delhi BJP president Adesh Gupta has announced that the Lokayukta has dismissed a corruption complaint filed against him. The complaint, which accused Gupta of availing luxury vehicles and encroaching public land, was rejected by the Lokayukta court.
The income tax department will allow people to file 'belated return' until December 31.
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Cabinet likely to pave way for the 'super-rich' tax today.
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.
Larsen & Toubro (L&T) reported a 14 per cent year-on-year increase in Q1 FY27 profit attributable to owners, reaching Rs 3,926 crore, surpassing analyst estimates, despite facing significant supply-chain disruptions in West Asia.
Team Anna member Arvind Kejriwal did not comply with the income tax department notice asking him to pay over Rs 9 lakh in dues, saying he needed more time to decide on the issue as he was given "very little time".
In a measure that will have far-reaching impact on foreign investment and the Vodafone case having a tax implication of Rs 11,000 crore (Rs 110 billion), the government proposed amendment in the Income Tax Act retrospectively from April 1, 1962.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
They are not just underreporting income; they are reshaping what the income tax system perceives, says study.
'A huge number of declarations are expected to be made through the official e-filing website of the Income Tax department.'
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
Wants investment limit for tax savings schemes be increased to Rs 320,000
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
rediffGURU T S Khurana answers readers' personal income tax queries
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
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.
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
rediffGURU T S Khurana answers readers' personal income tax queries.
Anil Rego, CEO, Right Horizons lists out the important things, of course, apart from the IT exemption limit, that the salaried class must be looking forward to in the Union Budget 2015-16 that Finance Minister Arun Jaitley will present tomorrow morning
CPI(M) workers clashed with security personnel outside former Chief Minister Pinarayi Vijayan's residence in Kerala during Enforcement Directorate (ED) searches related to the alleged CMRL monthly payment case involving his daughter.
This article tries to strip off the jargon and present the contents of the current act with respect to the punishments and penalties applicable to various offences as defined by the tax man.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of a money laundering probe linked to the CMRL case involving his daughter, Veena Vijayan.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
Washington Governor Bob Ferguson declared a statewide state of emergency and burn ban Saturday morning as an unprecedented wildfire crisis gripped the region, with active blazes scorching nearly 3,000 acres.
Fitch Ratings has affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, acknowledging robust growth prospects and strong external finances. However, the agency highlighted concerns over elevated government debt, lagging structural metrics, and potential fiscal spending pressures due to rising youth unemployment.
The National Stock Exchange (NSE) is reportedly planning to launch its much-anticipated initial public offering (IPO), estimated at around Rs 30,000 crore, in September, potentially valuing the exchange at over Rs 5 lakh crore.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
Read all account documents, ask questions, and conduct basic due diligence before agreeing to become a joint holder.
Algo strategies must be registered with stock exchanges.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Maruti Suzuki India (MSIL) reported a mixed Q1 FY27, with record quarterly sales driving strong revenue growth, but operating performance was below expectations due to higher commodity and other costs impacting margins. Brokerages anticipate sustained sales growth for the company in the current fiscal year, supported by new launches, robust demand, and significant capacity expansion.
...exceeding their 49,340 crore equity selloff.
Have a query regarding tax planning or tax filing? Maybe we can help. Drop us a line and our expert, Anil Rego of Right Horizons, will answer it. Got a question for Anil Rego? Please write to us at getahead@rediff.co.in with the subject line as 'Tax query'.
Here is a quick guide to help you understand the typical documents and forms required for filing returns. A clear understanding helps you to file your returns correctly and accurately.
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.
TVK chief Vijay, a candidate in the Tamil Nadu Assembly elections, has filed a revised election affidavit disclosing two pending FIRs, addressing discrepancies in his initial filing.
India's Code on Wages mandates strict payout deadlines, two-day full and final settlements, universal wage coverage and capped deductions to safeguard employees and enhance payroll transparency nationwide.
Instead of conceding the demand for a cut in personal income-tax rates, Finance Minister Nirmala Sitharaman should phase out many exemptions in both personal and corporation taxes, suggests A K Bhattacharya.
