Failure to disclose any income can lead to penalties and legal issues.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday. The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of Rs 18.23 lakh crore. The provisional figures of Direct Tax collections up to October 9, 2023, continue to register steady growth, the statement said.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
Passenger vehicle dispatches in India from factories to dealers rose to record levels at over 43 lakh units in FY25, with utility vehicles accounting for 65 per cent of the total sales in the segment, industry body SIAM said on Tuesday. Passenger vehicle (PV) dispatches rose to 43,01,848 units in the last fiscal year, marking a 2 per cent increase compared to 42,18,750 units in FY 2023-24.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported a 5.97 per cent rise in its consolidated net profit to Rs 2,768 crore for the June quarter of FY26, helped by gains from a re-estimation of taxes paid in the previous year. The company had logged a net profit of Rs 2,612 crore in the April-June quarter a year ago, according to a regulatory filing from HUL, the maker of popular brands as Dove, Lifebuoy, Lux, Lakm, and Sunsilk.
Rajkumar Gupta's hammy treatment and bombastic score strips the realism to turn Raid 2 into another hail the hero exercise, observes Sukanya Verma.
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
Biggest beneficiaries would be people having income between 800,001 to 999,999 per annum.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.
Maruti Suzuki India on Tuesday reported an 18 per cent year-on-year dip in consolidated net profit at Rs 3,102 crore for the second quarter ended September hit by the withdrawal of indexation benefit and change in the tax rate on long term capital gains on debt mutual funds. The country's largest carmaker had posted a net profit of Rs 3,786 crore in the July-September quarter of last fiscal.
The interest rate on these schemes have remained unchanged for over a year now.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII president Rajiv Memani said on Thursday.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
A robust show during the March quarter of 2024-25 (Q4FY25) and hopes of a strong demand momentum have led to an upward revision of Mahindra & Mahindra's (M&M's) earnings. With a slew of launches lined up amid a steady demand environment, brokerages see M&M outperforming peers in passenger vehicles (PVs), tractors and commercial vehicles (CVs).
'Once filed, it cannot be revised or rectified.'
The government may relax the requirement of making payments to MSMEs within 45 days of buying goods and services to check large corporate from looking at other sourcing avenues, sources said. The announcement to this effect could be made in the Budget likely to be presented on July 23. The government is considering suggestions regarding changes to Section 43B(h) of the Income Tax Act made by MSMEs during pre-Budget consultations, sources said.
The Delhi high court on Wednesday upheld an order of the Income Tax Appellate Tribunal (ITAT) refusing to stay a notice issued by the Income Tax department to the Congress party for recovery of outstanding tax of more than Rs 100 crore.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Bank employees want a five day work week.
There have been multiple instances of the same entity appearing as both a public shareholder as well as under the promoter classification in some listed companies. And this dual-classification happened in the same quarter, according to data compiled by primedatabase.com.
Start your journey to financial freedom today. Ask your questions and let our experts show you the way to a secure and prosperous future.
The country's largest airline IndiGo on Wednesday reported a 20 per cent decline in profit after tax at Rs 2,176.3 crore for the June quarter as airspace curbs and overall challenging operating environment crimped its bottom line even as the carrier flew 12 per cent more passengers during the period.
Belying expectations, Finance Minister Nirmala Sitharaman did not tinker with the personal income tax rates in the Budget for 2022-23.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
Party treasurer Ajay Maken has claimed that "democracy will be over if the action of probe agencies goes unchecked" and said the Congress has full faith in the judiciary.
'... there are challenges to overcome and the country needs money for that.'
At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
A 24-year-old woman, Priyanka, died after falling from a roller coaster at the Fun and Food Village amusement park in southwest Delhi's Kapashera. She was meeting her fianc, Nikhil, who was about to return to Cyprus where he works. The incident occurred on Thursday evening, and Priyanka's family is alleging negligence on the part of the amusement park owners. They are seeking justice and have accused the police of inaction. The family is dependent on Priyanka's income as a telecom company manager.
ELSS investments require a long-term commitment of at least seven years.
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