Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Prashant A Bhonsle explains the tax benefits you can avail under Section 80E of the Income Tax Act.
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.
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.
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.
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
'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.'
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
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.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
You cannnot take benefit for a home loan which has been taken in some other persons name, says tax expert Vikas M Gandhi.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
The India Today report claimed that Jaiswal's relationship with Mumbai Captain Ajinkya Rahane had become 'untenable'.
We asked you, dear readers to share your best tips on saving money. Dibyendu Kumar Roy, 43, from New Delhi shares his tips.
'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.'
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.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
The income tax department allows some extra tax deductions over and above the Rs 100,000 limit that we have under Section 80C.
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.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Invest in these funds through the SIP route with at least a seven-year horizon.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Don't sell the shares immediately after you get possession. It might translate into tax liability, if not held for one year or more.
Indian tax laws offer start-ups ways to save taxes.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
For those of you who ran pillar-to-post last year to save that extra dough, here's a lesson or two on the tax deductions / exemptions that you should not miss.
India's flexible (flex) office segment, having breached pre-pandemic levels, is thriving as corporates, startups, multinational corporations, and global capability centres (GCCs) expand in India, seeking low-capital yet Grade A plug-and-play facilities. In the first quarter (Q1) of 2025, the flex office segment continued to grow, with flex space leasing rising by 22 per cent to 2.2 million square feet (msf), according to Colliers.
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
United States President-elect Donald Trump on Friday posted a media article on his Truth Social platform highlighting a suggestion by Kevin O'Leary, the Canadian investor and Shark Tank star, advocating for a potential merge of Canada and the United States.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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