Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
The Uttarakhand government has announced exemption in luxury tax for five years on all those old buildings which would be converted into hotels with an investment of 50 per cent of the current market value.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
State Bank of India chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when interest income from deposits held in all the bank branches put together is more than Rs 40,000 in a year. With regard to savings accounts, interest earned up to Rs 10,000 is exempt from tax.
Direct tax expert Vikas Gandhi offers some valuable tips on investments.
In a major relief for taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced an increase in the threshold for Tax Deduction at Source (TDS) on rent from Rs2.40 lakh per annum to Rs6 lakh per annum while presenting the Union Budget 2025-26. Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
When investing in fixed-income products, balancing considerations like safety, liquidity, and income is essential.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
The provisions of deduction of tax at source apply to both but in some cases it is possible to save tax through proper tax planning.
The Supreme Court of India has made public the asset details of its judges, including Chief Justice Sanjiv Khanna who has Rs 55.75 lakh in a fixed deposit, a three-bedroom DDA flat in south Delhi, and a four-bedroom apartment measuring 2,446 square feet in the Commonwealth Games Village. The court has also uploaded the complete process of appointments to the high courts and the Supreme Court on its website for public awareness.
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.
Paraphrasing Abraham Lincoln, Finance Minister Nirmala Sitharaman on Sunday described the Union Budget as "by the people, for the people, of the people", and said Prime Minister Narendra Modi was fully behind the idea to cut taxes for the middle class but it took time to convince the bureaucrats. "We have heard the voice of the middle class" who had been complaining about their aspirations not being met despite being honest taxpayers, she told PTI in an interview.
Direct tax expert Vikas M Gandhi offers some valuable tax-saving tips.
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
Finance Minister Nirmala Sitharaman on Tuesday said buyback of shares will be taxed in the hands of shareholders similar to dividend from October 1, a move that will increase the tax burden on investors. Further, the cost paid by the shareholder to acquire these shares will be considered for computation of capital gains or loss to them.
In an hour-long chat with rediff.com, financial planning expert Sailesh Multani offered some valuable tips.
The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
You can invest the proceeds in capital gains bond or reinvest in another residential property.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
The India Today report claimed that Jaiswal's relationship with Mumbai Captain Ajinkya Rahane had become 'untenable'.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
The original draft of DTC was much different from what you have in current form. Having said that you need to make you investments DTC-compliant. Here's some more in depth analysis and the strategy you must follow once DTC 2012 kicks in:
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
The Congress wants to reinforce the tax more powerfully now after its four generations reaped benefit of the wealth passed on to them, he said.
'When people have money in their hands, they make their judgment about whether they want to spend it entirely or spend some out of it.'
Aurangabad-based financial planner Anirudha Hatwalne laments that youngsters do not plan their finances. And, their only worry is about saving taxes at the end of the year.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
Prime Minister Narendra Modi launched a scathing attack on Leader of Opposition Rahul Gandhi and the Aam Aadmi Party (AAP) in the Lok Sabha on Tuesday, accusing them of "speaking the language of urban naxals" and being "AAP-da" for the youth. He also took a swipe at former Congress chief Rahul Gandhi, saying those who entertain themselves by getting photo sessions done in huts of the poor will find the talk about the poor in Parliament boring. Modi also hailed his government's decisions in the Budget and said that the Ayushman Bharat scheme, which his government started for the poor, has been stalled by some states, leaving poor people in hardship.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Invest in these funds through the SIP route with at least a seven-year horizon.
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