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 Delhi High Court has upheld a trial court's order declaring UK-based arms consultant Sanjay Bhandari a 'fugitive economic offender' in a money laundering case, allowing the Enforcement Directorate to proceed with confiscating his assets.
The peak rate of 30% applies on annual income of individuals above Rs 10 lakhs.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Immigrants' contribution to the US economy is disproportionate to their share of the population, meaning that losing them would shrink the economy even more than losing a random group of Americans, points out Sree Sreenivasan.
Traders were producing fake purchase and sale billing receipts and also availing multiple loans on one consignment.
Join Anil Rego for an online chat between 2 pm and 3 pm on Friday, July 8, 2016.
Delhi Police have dismantled a cyber fraud operation that swindled a railway employee out of approximately Rs 60,000 under the guise of an online lottery. The investigation led to multiple arrests and uncovered a network using fake identities to open bank accounts for illicit transactions.
Indian companies recorded their highest profit margins in 21 quarters during Q4FY26, reaching 11.3 per cent, primarily due to significant savings from lower employee costs and reduced interest payments, which offset rising raw material prices.
Priyank Kharge accused the RSS of money laundering, demanding transparency in their financial dealings and questioning their exemption from laws applicable to other organizations.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
Himachal Pradesh DGP Ashok Tiwari has recommended a detailed examination and action against the SDM of Solan for alleged misuse of official position, conflict of interest, and possible involvement in benami transactions related to land deals.
The facility can be accessed using internet banking, Aadhaar number, ATM and email.
The Income Tax department on Friday moved the Delhi High Court seeking "directions/clarifications" of the December 12 order by which the assets of mobile phone handset maker Nokia in India were defreezed.
The government appears serious about its intent to do away with the sore points in the taxation laws.
Sleuths from the department swooped down on seven locations across Mumbai city, including Jeetendra and daughter Ekta's residences.
Most important thing to know is even if you do not have taxable income you may still have to file your income tax return.
CBDT is the apex policy making body of the IT department.
Eight teachers in Maharashtra's Beed district have been suspended for allegedly using false hearing impairment claims to obtain government benefits. An inquiry revealed discrepancies in their disability certificates, leading to departmental action.
There has been an unprecedented surge in number of returns being e-filed.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Called Signature Villa, the property was gifted to him by Nakheel Public Joint Stock Company. The dispute was over whether this was a gift or payment for services Khan had rendered to the company.
Through his commitment to democratic norms, debate, dissent and constitutionalism, Jawaharlal Nehru helped ensure that parliamentary democracy took deep root in independent India. Utkarsh Mishra evaluates Nehru's 17 years as India's first prime minister, examining his role in nation-building, democratic institution-building, economic planning, scientific advancement and foreign policy.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
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.
rediffGURU T S Khurana answers readers' personal income tax queries
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Bharti Airtel reported a 33.5 per cent decline in consolidated net profit to Rs 7,325 crore for the March 2026 quarter, primarily attributed to one-time provisions for statutory and tax liabilities.
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
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Cabinet likely to pave way for the 'super-rich' tax today.
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.
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".
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.
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
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.
