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.
The federal probe agency also said it seized Rs 12 crore in cash (including about Rs crore in foreign currency), gold jewellery worth Rs 6 crore, silver about 10 kg along with four vehicles following raids launched on Friday in multiple states.
Speculation swirls in Pakistan regarding potential changes in the political landscape, fueled by rumors of the army chief's possible presidential aspirations and discussions between top civilian and military leaders.
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
'We have created massive infrastructure in the past six years.'
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Maharashtra Agriculture Minister Manikrao Kokate is under fire after a video surfaced allegedly showing him playing rummy on his phone during a legislative session. The opposition accuses the government of being insensitive to farmers' issues.
Chandrapuram Ponnusamy Radhakrishnan, with strong roots in the RSS and BJP, has been elected as the 15th Vice President of India. His rich political and administrative experience will be valuable as the Chairperson of the Rajya Sabha.
In a narrow 218-214 vote, the United States House of Representatives on Thursday passed President Donald Trump's massive $4.5 trillion tax and spending bill -- his signature second-term policy package -- just ahead of the July 4 deadline.
The Maharashtra Food and Drugs Administration (FDA) has suspended the license of a caterer that operates the canteen at the MLA hostel in Mumbai, after a Shiv Sena legislator assaulted a staffer for allegedly serving stale food.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
'The government is distributing land in Ladakh as if they are selling cinema hall tickets.'
'It is a process that takes a certain amount of time and needs to be done keeping legal modalities in mind.'
DPDP Act (2023) gives individuals the right to decide how their personal data is collected and used. For many businesses, this means reworking longstanding data practices, notes Ravi Duvvuru.
'In my 26 years at Raj Bhavan, working with more than ten governors, I can tell you C P Radhakrishnan Sir stands out.'
'The definitions in the Act are so wide and so vague that they can be easily misused to target individuals who may not be conducive to the present government in power.'
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
=In 21 states, the time gap between the general Budget and ministry-specific discussions was just one day.
'The government, if it deems fit, will incorporate the changes in the Bill, take approval from the Cabinet before moving the bill for consideration and passage in the Lok Sabha.'
'The new Bill introduces no policy or rate changes, leaving financial planning strategies largely unaffected.'
'The considerations for choosing between the old and new tax regimes remain essentially unchanged.'
We have seen such scenes from legislatures in South Korea and Europe for instance, but who would have wagered that we would witness such tumult in India, in the Jammu and Kashmir assembly, no less, which only convened for legislative business days ago.
'There is no retrospective changing of the law, only its simplification.'
More than 25 crore workers engaged in sectors ranging from banking, insurance, postal to coal mining, highway and construction are expected to go on a nationwide general strike on Wednesday, potentially disrupting services across the country. A forum of 10 central trade unions and their associates has called for a general strike or 'Bharat Bandh' to "oppose the anti-worker, anti-farmer and anti-national pro-corporate policies of the government".
The government rejected the Opposition's demand for a discussion on electoral roll revision in Bihar, citing that the matter is sub judice and pending before the judiciary.
United States President Donald Trump slammed Elon Musk after he formed a new political party, terming the move as 'ridiculous' and saying the tech billionaire has gone 'completely off the rails'.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
'That way you're not hostage just to US sort of exports to India.'
By naming a sworn swayamsevak for vice president, the Modi-Shah duo have sent out a clear and positive message to Nagpur, where the RSS headquarters is located, explains N Sathiya Moorthy.
Delhi high court ruling on numbers as trademarks could be a trendsetter.
Aaditya Thackeray refuses to comment on the Disha Salian case, while Nitesh Rane insists the matter is not closed and justice will be served.
Two-time Trinamool Congress Lok Sabha MP Mahua Moitra is learnt to have quietly tied the knot with Biju Janata Dal leader Pinaki Misra on May 3.
The feud reached its peak when Musk made explosive allegations about Trump's connection to disgraced financier Jeffrey Epstein, marking a dramatic escalation in their increasingly personal conflict.
In a significant administrative reshuffle, Jammu and Kashmir Lieutenant Governor Manoj Sinha ordered the transfer and posting of 48 J-K Administrative Service (JKAS) officers, potentially creating friction with the National Conference-led government in the Union Territory. The move, seen by many as an attempt by the LG to assert control over the bureaucracy, includes the transfer of 14 additional deputy commissioners and 26 sub-divisional magistrates. The timing of the order, coinciding with the elected government's wait for approval on business rules, raises concerns over power dynamics in the region.
'The chief minister believes the poorest of the poor have the first right on government resources.'
'Prashant Kishor is a businessman before he is a politician, and given that the expected average turnout for JSP candidates is 5,000 to 6,000 votes and since Bihar has a significant number of seats where the margin between the winner and runner-up falls within that range he will capitalise on exactly that to showcase his presence.'
The Jammu and Kashmir assembly unanimously passed a resolution on Monday expressing shock and anguish over the terrorist attack in Pahalgam and resolved to fight resolutely to defeat the nefarious designs to disturb communal harmony and hinder progress.
South African President Cyril Ramaphosa, a former anti-apartheid activist and freedom fighter, responded to Trump's claims at their meeting in the Oval Office diplomatically, countering Trump's assertions.
From event planning to digital arts, career coach Nayagam PP offers a list of exciting courses you can pursue after Class 12.
Bihar Chief Minister Nitish Kumar launched a scathing attack on his predecessor Rabri Devi, calling her appointment as Chief Minister "suspension-induced" during a heated debate in the state legislative council. The verbal sparring, marked by accusations and counter-accusations on law and order, saw Kumar accusing the RJD of being unable to handle Hindu-Muslim tensions and engaging in "mischief." Rabri Devi, in response, asserted her right to speak about her achievements during her tenure as Chief Minister. Kumar, however, retorted with a sharp, local phrase, dismissing Rabri Devi's claims. The exchange, which saw both sides engage in mudslinging, ended with the Chairman admonishing the opposition for their unruly behavior.
Parliament's approval of the Waqf (Amendment) Bill, a contentious piece of legislation aimed at reforming Waqf bodies, has sparked strong reactions from the opposition, who allege that the bill was "bulldozed" through Parliament. The bill, considered the government's most consequential legislation in its third term, was passed with comfortable majorities in both the Lok Sabha and Rajya Sabha despite opposition claims of a lack of consultation and an intrusion into religious affairs. Other notable bills approved during the session included the Finance Bill, Appropriation Bill, Immigration and Foreigners Bill, and Tribhuvan Sahkari University Bill. The session, which saw high productivity, also witnessed debates on issues such as economic distress, delimitation, and the three-language policy. While the government touted its achievements, the opposition criticized the government's approach and vowed to challenge the Waqf bill in court.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances