rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
There are many questions investors are asking their financial advisors at the moment.
rediffGURU T S Khurana answers readers' personal income tax queries.
Don't solely focus on tax-saving alone.
Plans for big bang reforms in the GST regime by Diwali, the Putin-Trump summit and S&P upgrading India's sovereign credit rating are likely to instil optimism in the domestic equity market in the week ahead, analysts said. Besides, trends in global markets and the trading activity of foreign investors would also impact domestic investors' sentiment.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The Securities and Exchange Board of India (Sebi) on Wednesday overhauled the cost framework for the 80 trillion domestic mutual fund (MF) industry, introducing a simplified structure aimed at improving transparency for investors while balancing the impact on asset managers.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego and Mahesh Padmanabhan your I-T related questions.
Ask Tax Gurus Mihir Tanna, Mahesh Padmanabhan and Anil Rego.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
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.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Three industry bodies suggested changes in India's tax regime in their pre-Budget discussions with Revenue Secretary Sanjay Malhotra in New Delhi on Tuesday. The bodies - Confederation of Indian Industry (CII), PHD Chamber of Commerce and Industry (PHDCCI), and Federation of Indian Chambers of Commerce & Industry (FICCI) - held separate meetings with Malhotra during the day and put across their suggestions for the upcoming Budget.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
'There is no retrospective changing of the law, only its simplification.'
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
rediffGURU T S Khurana answers readers' personal income tax queries.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, while hiking it on high-end wrist watches, shoes and apparels, besides considering a separate 35 per cent tax slab for sin goods. The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The new tax regime will be optional and the taxpayers will be given the choice to either remain in the old regime with exemptions and deductions or opt for the new reduced tax rate without those exemptions.
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Financial and tax expert Anil Rego of Right Horizons has his doubts.
Archana Ramanan, a homemaker from Tamil Nadu, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
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