'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
Tax experts answer your budget-related queries
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
'Don't wait until the last minute. Instead, cultivate the habit of monitoring your Form 26AS throughout the year.'
The Income Tax department on Friday said it has made available the excel utility for ITR-1 and ITR-4 for AY 2025-26, which will enable taxpayers to file their income tax returns. "The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers," the Income Tax department said in a post on X.
'Every parent should rethink their decisions to send their children to the US.'
'...are young Indians with aspiration to go to the US.' 'The dream has to be more about working in India...'
'We have created massive infrastructure in the past six years.'
File a written complaint with the bank's grievance redressal officer and secure an acknowledgement.
Non-banking financial company (NBFC) Tata Capital is set to launch its much-anticipated $2 billion (Rs 17,200 crore) initial public offering (IPO) in the week beginning September 22, market sources familiar with the matter said on Sunday. The issue is expected to value the company around $11 billion, they added. Tata Capital is likely to make its stock market debut by September 30.
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
Satyam Computer Services Ltd (rebranded as Mahindra Satyam to reflect its new ownership by Tech Mahindra) has filed a fresh lawsuit in a New York court, challenging the tax payment claims made by mobile payment services company Upaid Systems.
Advance preparation in this financial year 2008-09 itself can help you avoid the last-minute anxiety
Those paying more than Rs 25 lakh in service tax will soon have to file their returns every month instead of once in six months.
'The voice which came wherever I travelled was that we are proud taxpayers. We are honest taxpayers. We want to continue to serve the country by being good taxpayers.' 'But what do you think about the kind of things you can do for us?'
The NCLAT has set aside a petition filed by the state tax department claiming dues from Reliance Communications (RCom) observing that it was based on the assessment made after the initiation of insolvency resolution process against the debt-ridden firm. A two-member NCLAT bench upheld the earlier order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which had rejected the state tax department's second claim of Rs 6.10 crore. Corporate Insolvency Resolution Process (CIRP) against RCom was initiated on June 22, 2019. The state tax department had filed two claims.
rediffGURU Samkit Maniar answers readers' personal income tax queries
FMCG major Hindustan Unilever Ltd (HUL) on Thursday reported a 5.97 per cent rise in its consolidated net profit to Rs 2,768 crore for the June quarter of FY26, helped by gains from a re-estimation of taxes paid in the previous year. The company had logged a net profit of Rs 2,612 crore in the April-June quarter a year ago, according to a regulatory filing from HUL, the maker of popular brands as Dove, Lifebuoy, Lux, Lakm, and Sunsilk.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
The income tax department on Saturday extended the deadline for filing income tax returns by corporates by 15 days till November 15 for assessment year 2024-25. In a circular, the Central Board of Direct Taxes (CBDT) said the deadline will be extended from the earlier target date of October 31. The new deadline for Assessment Year 2024-25 (for furnishing tax returns for fiscal 2023-24) is November 15.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
The Jan Vishwas (Amendment of Provisions) Bill 2025, aimed at decriminalizing minor offenses to promote ease of living and business, was introduced in the Lok Sabha and referred to a Select Committee.
'And then the people who call themselves great nationalists, I can bet you that 99 per cent of them are dodging taxes, have sent their kids to America, or are doing everything to make sure that what goes on in this country doesn't affect their personal wealth or their whatever bull*&$%.'
The platform recorded a peak rate of 917 filings per second on July 17 and 9,367 filings per minute on July 31.
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.
The family of an Army jawan, Kapil, recounts the brutal assault he endured at a toll plaza in Meerut, Uttar Pradesh. They describe the attack and the injuries he sustained, while police investigate and make arrests.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits due to US tariffs and high base effect due to gain from sale of discontinued operations. The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
rediffGURU T S Khurana answers readers' personal income tax queries.
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The US first imposed 25 per cent tariffs on imports of aluminium, steel and derivative articles on March 12.
rediffGURU T S Khurana answers readers' personal income tax queries.
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