'It takes time and the experience of a few market cycles to develop awareness about one's true risk appetite.'
In a few months' time the taxman will coming knocking on your door.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
Without changes to the taxation rules, buybacks are expected to remain scarce.
Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of Rs 200 crore by 'front-running' in trade activities, the Enforcement Directorate (ED) said on Sunday.
Ramesh alleged that through the "electoral bonds scam", the Bharatiya Janata Party has collected Rs 8,200 crore and used the route of "pre-paid, post-paid, post-raid bribes and shell companies".
The Income Tax Department can easily detect such illegal activities and the penalties could be huge.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
Voters are weighing a stark trade-off -- between preserving a socially driven policy and reversing course to revive revenue, restore fiscal balance, and rein in the underground liquor economy.
Leading stock exchange NSE on Tuesday reported a 94 per cent year-on-year surge in consolidated profit after tax to Rs 3,834 crore for three months ended December 2024. It posted a Profit After Tax (PAT) of Rs 1,975 crore in the year-ago period.
Real Madrid coach Ancelotti goes on trial in Spain for tax evasion.
The income tax department has extended the date for filing audit report for 2023-24 by 7 days till October 7. In a circular, the I-T department said considering the difficulties faced by taxpayers in electronic filing of various audit reports under the Income Tax Act, the deadline is being extended from September 30 to October 7.
10 largecaps stocks which stand to gain from the Budget.
The Instagram video has drawn significant attention due to the controversial backgrounds of both Lalit Modi and Vijay Mallya.
The Income Tax notice was recovered from the house of Baljeet Kaur at Shahabad in Kurukshetra in Haryana where Papalpreet and Amritpal had taken shelter on March 19 and 20 before fleeing from there.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
Ravi Singhal explains how a taxpayer can go about reducing her/his tax liability if they suffer losses while investing or trading in the stock market.
Apart from the many old rules, you need to be aware of a number of new ones to be able to claim your deductions well.
'First-time investors, busy professionals, NRIs and those with modest sums looking for curated strategies may find FoFs especially appealing.'
The RBI under new Governor Sanjay Malhotra on Friday cut interest rate for the first time in nearly five years as the central bank pivoted the policy stance to support a shuttering economy. The 25 basis points rate cut to 6.25 per cent comes after last rate reduction in May 2020. The last revision of rates happened in February 2023 when the policy rate was hiked by 25 basis points to 6.5 per cent.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
In a stunning victory, Indian-American lawmaker Zohran Kwame Mamdani defeated former governor Andrew Cuomo in the Democratic primary race for New York City mayor
It is important to have the necessary documents on hand to verify the information in the form.
Hero MotoCorp on Tuesday posted 24 per cent increase in consolidated profit after tax at Rs 1,169 crore for the fourth quarter ended March 31, 2025 riding on higher margins backed by better product mix, parts revenue and cost effectiveness. The company had reported a consolidated profit after tax (PAT) of Rs 943 crore in January-March FY24.
The government has notified October 1 as the starting date for direct tax dispute resolution scheme Vivad Se Vishwas 2.0. Vivad Se Vishwas scheme 2.0 was originally announced in Budget 2024-25 presented in July for resolution of certain income tax disputes pending appeal.
India's mergers and acquisitions (M&A) activity cooled in the second quarter of 2025-26 (Q2FY26), with deal value falling to $26.26 billion from $29.04 billion a year ago, according to Bloomberg data.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple language in income tax communications so that notices do not instil fear in the minds of taxpayers. Advising the income tax officers not to take "disproportionate" action and use enforcement measures only, as the last resort, Sitharaman said tax officers should use "power judiciously".
The July-September quarter (Q2) business update on revenue by FSN E-Commerce Ventures (Nykaa) was well received by most investors and the share price surged over 6 per cent, driven by one block deal. Even after Wednesday's minor dip, it was still higher at Rs 257.50 as compared to Monday's close of Rs 255.55.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Since employers can't furnish Form 16 in the middle of the year, they give Tax Computation Statement.
Currently, income between Rs 1.6-5 lakh (Rs 160,000-500,000)attracts 10 per cent tax; Rs 5-8 lakh (Rs 500,000-800,000)20 per cent and beyond Rs 8 lakh 30 per cent.
Customs officials in Kerala conducted raids across the state, seizing luxury vehicles illegally imported from Bhutan with forged documents. The operation, dubbed 'Operation Numkhor,' targeted multiple locations and uncovered a network involved in smuggling cars, gold, and drugs.
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