Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
'A huge number of declarations are expected to be made through the official e-filing website of the Income Tax department.'
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
ICICI Bank reported a 9.28 per cent increase in its consolidated net profit to Rs 14,755 crore for the March quarter of FY26, primarily driven by a nearly 90 per cent reduction in provisioning. The bank's executive director, Sandeep Batra, noted strong asset growth but expressed caution regarding the geopolitical situation in West Asia.
Wants investment limit for tax savings schemes be increased to Rs 320,000
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
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.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
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.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
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
The DMK party in Tamil Nadu has released its manifesto for the upcoming Assembly elections, promising a range of welfare measures focused on women, education, and economic development, including financial assistance and job creation initiatives.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
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 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.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
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.
'Whether it is an Indian entity or an overseas subsidiary of the entity that is making the payment, if the owner is Indian, then he or she is contributing to the Indian casualties.'
Congress MP Priyanka Gandhi has accused the ruling LDF in Kerala and Chief Minister Pinarayi Vijayan of being Prime Minister Narendra Modi's "B-team" and of secretly joining hands with the BJP, alleging a compromised leadership and lack of accountability.
'At the first sign of real trouble, that money will move. There will be a run.'
Makers of spirits, beer, and wine are working to identify new markets of growth as two of the industry's biggest liquor markets, Maharashtra and Telangana, remain embroiled in taxation and payment issues.
"The CBDT extends the 'due date' for filing of ITRs as well as reports of Audit (which were required to be filed by the said specified date) from September 30, 2018 to October 15, 2018 in respect of the said categories of taxpayers," the CBDT said in a statement.
It is always adivsable to file income tax returns on time.
US President George W Bush and his wife reported a taxable income of $727,083 for the last year and paid $227,490 in federal income taxes, the White House said.
A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
Hiring demand strongest in ecommerce, tech startups, healthcare, and energy sectors, with Bengaluru, Hyderabad, and Pune leading.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Vaibhav Sooryavanshi's explosive innings and Arjun Tendulkar's half-century guided DY Patil Blue to a thrilling victory in the DY Patil T20 Cup.
Trent reported a 20 per cent revenue rebound in Q4FY26, driven by a recovery in like-for-like growth and significant store additions. The company's board has approved raising up to 2,500 crore in equity to fund investments in store network upgrades, new brands, supply chain automation, and Star Bazaar expansion, alongside a 1:2 bonus issue and a 6 dividend.
Taxpayers might face several issues while filing returns this year.
rediffGURU T S Khurana answers readers' personal income tax queries.
Rahul Gandhi accuses Mamata Banerjee of not directly fighting the BJP, alleging that this indirect approach benefits the ruling party. He also criticised her government's performance on job creation and handling of corruption.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
Here are the key numbers to watch out for in the Union Budget for 2025-26:
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
rediffGURU T S Khurana answers readers' personal income tax queries.
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