Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
The government is believed to be mulling over a new tax-saving scheme to garner 'idle money' lying with households and elsewhere in the system, primarily to fund building infrastructure.
Doubling standard deduction to Rs 1 lakh, increasing tax break on interest paid on housing loan and rationalisation of capital gains tax regime are some of the expectations that consultancy firm KPMG has from the Budget 2024-25 to be unveiled on July 23 in Parliament. There has been a significant rise in medical expenses, fuel costs and overall inflation.
One of the best ways to beat the market is through SIP (Systematic investment plan) which is based on a simple rupee averaging principle.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Ulip investments can be claimed as a deduction from taxable income. But there is a catch to this which most insurance companies do not tell you.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Section 54EC bonds give positive returns, despite a lock-in and tax on interest income.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
Find out which amongst the three tax-saving options investors should opt for.
Data from Value Research analysed on five-year, three-year and one-year performances of active equity schemes to pick the best performers in popular scheme categories.
The last date of filing income tax return for individuals, salaried person is 31st July, 2007, says tax expert Vikas Gandhi.
It is advisable to file your ITR right away and not rely on potential extensions.
With barely a few days left before the current financial year (2007-08) comes to an end, it's time to pay taxes and file returns.
FM, in the revised estimates for 2012-13, projected a fiscal deficit of 5.2 per cent. This is now likely to be revised in light of better than expected revenue realisation and savings.
Here's a quick round up on what you should do whilst you apply finishing touches to your tax planning.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
That's what ELSS investments have to offer, coupled with other benefits.
Here are some key parameters that need evaluation before you select the right tax-saving fund.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
The finance minister's tax giveaways are what have saved tax-payers from the impact of inflation and higher home loan rates.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
But to avail the benefit of this new tax-saving scheme you will need to ask your employer to make some changes to your CTC package.
Do you want to know if your investment in a house, mutual fund, insurance or real estate taxable? How is tax calculated on your ESOPs?
Recently, Finance Minister Pranab Mukherjee had assured industry that the government was open to re-examining proposals in seven key areas.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
American president Barack Obama has once again targeted American companies having their operations in India to save taxes back home and called such businesses tax evaders.
If you have one and attach digital signature while e-filing, there is no need to submit a hard copy. However if you file without a digital signature, then you will have to submit a hard copy of ITR-V (generated on the e-filing) within 15 days of e-filing, says Vikas Gandhi
Clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22, according to a report. As per India Ratings, a large part of investments will have to be in infrastructure, which can help revive private investments by easing supply constraints and offset the weakening of external demand due to global headwinds. Higher investments will have to be accompanied by higher domestic savings to keep the savings-investments gap under check.
Investmentyogi simplifies equity linked savings schemes for Get Ahead readers and discusses the pros and cons.
The Central Board of Direct Taxes has brought out a notification in this regard recently, which stipulates that any interest earned beyond Rs 3,500 (in case of individual accounts) and Rs 7,000 (in case of joint accounts) will be taxable from the running fiscal.
What are the tax benefits investors get on investing in mutual funds? Read on to find out. . .
The Income-Tax (I-T) department has issued around 8,000 notices to salaried employees, self-employed individuals, and companies who made significant donations to charitable trusts. The department suspects potential tax evasion, as records of these donations do not correspond with the income and expenses of those making them. Sandeep Bajaj, managing partner, PSL Advocates & Solicitors, says, "Notices were issued for donations made during the assessment years of 2017-18 through 2020-21."
Investments of up to Rs 100,000 in tax-saving funds are eligible for deduction under Section 80C of the Income Tax Act. This has opened up a new spectrum for investors while conducting their annual tax-planning exercise.
Postal Time Deposits are similar to Fixed Deposit that you keep with Bank. For claiming deduction, the minimum period for which you should keep such Time Deposit is of 5 years.
Direct tax expert Vikas M Gandhi offered some valuable tax-saving tips.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
With an eye on the assembly elections scheduled in Delhi early next year, Aam Aadmi Party supremo Arvind Kejriwal on Friday launched a 'Revdi Par Charcha' campaign that will run from November 25 to December 10, an official statement said.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances