In the rush to complete tax-saving investments at the end of the financial year, many taxpayers choose instruments that do not match their long-term financial goals.
The Enforcement Directorate conducted searches at the residences of former Kerala chief minister Pinarayi Vijayan and his family members as part of its money laundering probe linked to the CMRL case involving his daughter.
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.
It is always adivsable to file income tax returns on time.
"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.
Around 80 lakh women in Maharashtra have been disqualified from the Mukhyamantri Majhi Ladki Bahin scheme after failing to meet the e-KYC deadline, leading to accusations from opposition parties that the state government is reducing beneficiaries due to financial constraints.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
The SIT investigating self-styled godman Ashok Kharat, who faces multiple rape accusations, has made significant breakthroughs.
Taxpayers might face several issues while filing returns this year.
Bharti Airtel, India's second-largest telecom operator, reported a 37.3 per cent rise in consolidated net profit to 8,167 crore for Q1 FY27, driven by the addition of high-paying premium customers, despite missing Bloomberg consensus estimates.
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.
A case has been registered against a US-based organisation and six others after the Enforcement Directorate lodged a complaint alleging illegal utilisation of foreign funds through a network of foreign debit cards, including in Left Wing Extremism (LWE)-affected areas of the country.
Divestment has emerged as a priority for the government following a moderation in direct tax collections.
BJP state president Rajeev Chandrasekhar, contesting from Nemom, Kerala, declares assets exceeding 93 crore, including movable and immovable properties, ahead of the upcoming Assembly elections.
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.
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The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
Slapped a 10 per cent surcharge on 'super-rich' and corporates. Levied an inheritance tax and raised duties on mobile phones, cigarettes, and luxury vehicles.
However, from April 1, 2026, transactional forms such as tax deducted at source statements, remittances, Form 60, and Form 15G/15H would operate under the new simplified framework.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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.
What items did Finance Minister Nirmala Sitharaman make costlier?
If you receive an email claiming to be from the income tax department that there's an outstanding tax demand that you need to pay immediately, don't get alarmed. Get cautious.
The Maharashtra Anti-Terrorism Squad (ATS) is investigating a bogus religious trust in Beed that received funds from a controversial international organisation, Chief Minister Devendra Fadnavis announced.
If not, an assessee might be charged interest for not paying TDS on time.
Surprised? Don't be for you still have time till March 31, 2014 to file your income tax return for the financial year 2012-13.
Four Madhya Pradesh police officers have been suspended for allegedly accepting a bribe of Rs 20 lakh from a businessman in exchange for releasing Rs 1 crore found in his vehicle.
Rising income feels like success but unchecked lifestyle inflation traps urban professionals into financing a more expensive version of living paycheck-to-paycheck -- buying material upgrades instead of true future financial freedom.
The Congress in Karnataka on Tuesday claimed that Chief Minister B S Yeddyurappa and his family have evaded income tax to the tune of Rs 339.54 crore and demanded that the Centre institute a probe into it.
Three former AIADMK ministers, Dr C Vijayabaskar, M R Vijayabaskar, and M S M Anandan, along with their supporters, have joined the ruling Tamilaga Vettri Kazhagam (TVK), prompting the DMK to label the move as 'washing machine' politics, referencing allegations of corruption against the defectors.
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
A US federal judge has permanently dismissed the criminal securities-fraud case against Adani Group chairman Gautam Adani and his nephew Sagar, closing nearly two years of prosecution without a trial. Gautam Adani stated, "Truth has prevailed," in response to the ruling.
Jewellers in Lucknow protest Prime Minister Modi's appeal to defer gold purchases for a year amid the West Asia crisis, fearing significant business losses and economic hardship for those involved in the trade.
The Nifty 50 firms' contribution to the overall earnings of India Inc has steadily declined, reaching its lowest share in at least 21 quarters at 47.1 per cent in Q4FY26, down from 51.8 per cent a year earlier.
What are the tax implications when you invest in real estate or any immovable property? Read on to find out.
The FM also said the government has proposed a joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.
The Maharashtra government sanctioned over Rs 1 crore for development works at a temple linked to Ashok Kharat, a self-styled godman accused of rape, in 2018. The funds were approved under the regional tourism development scheme. Kharat was arrested on March 18 after being accused of repeated rape.
If saving taxes is a cause for concern, filing tax returns is an equally worrying thing for most taxpayers. Thanks to the complex system of tax filing, with its various forms and exclusions that invariably change every financial year, taxpayers are left in the lurch! Here's a simple ready reckoner that takes you through the steps to file tax.
