rediffGURU T S Khurana answers readers' personal income tax queries.
'The aircraft is expected to be ready for rollout between January and March 2026, and to fly by the end of the year.'
Skoda Auto Volkswagen India has filed a case against tax authorities over the Rs 11,000 crore (about USD 1.4 billion) show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units.
The dispute between Aakash Educational Services Ltd (AESL) and edtech firm Byju's has escalated, with Aakash filing a sharply worded petition before the National Company Law Tribunal (NCLT) in Bengaluru, alleging conflict of interest and professional misconduct by global consulting firm Ernst & Young (EY), according to court filings
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
The Income Tax Department has slapped a penalty of Rs 944.20 crore on IndiGo, which said it will contest the order that is "erroneous and frivolous". The order was received by InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Saturday.
United States President Donald Trump on Tuesday (local time) reiterated his opposition to electric vehicle (EV) mandates, criticising government subsidies for Tesla CEO Elon Musk and questioning the broader push for EV adoption in the United States.
Income Tax department have released different tools to help you file your ITR-3 form easily.
Robert Vadra, husband of Priyanka Gandhi Vadra, appeared before the Enforcement Directorate for questioning in connection with the Sanjay Bhandari money laundering case.
With more than 1.2 million Indians stuck in green card backlogs, investor-driven EB-5 programme sees rising interest as a secure route for migration to the US.
Trump's method are more destabilising than his policy. So, a good idea these couple of years is to sip Kool-Aid, and savour the joys of Trumplomacy, asserts Shekhar Gupta.
rediffGURU T S Khurana answers readers' personal income tax queries
There is a misconception among some salaried individuals that because the employer has deduced tax at source they are not required to file tax returns.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
United States tech billionaire Elon Musk said he has formed a new political party to give Americans their freedom back, after a dramatic falling out with Donald Trump.
The government on Tuesday extended till March 15 the deadline for corporate to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15. This is the third extension given to corporate for filing the income tax return for 2020-21 fiscal.
Union Minister Nitin Gadkari voiced concerns about increasing poverty and wealth concentration, advocating for wealth decentralization and job creation in rural areas. He also highlighted the need for balanced sectoral contributions to GDP and discussed infrastructure development initiatives.
The Income Tax department on Monday invited public inputs for review of the six-decade old I-T Act with regard to simplification of language, litigation reduction, compliance reduction, and obsolete provisions. Pursuant to the Budget announcement by Finance Minister Nirmala Sitharaman for a comprehensive review of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers.
Handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract 1 per cent Tax Collected at Source (TCS), as per a notification issued by the Income Tax department. TCS at 1 per cent rate is currently being levied on motor vehicles costing above Rs 10 lakh effective January 1, 2025.
rediffGURU T S Khurana answers readers' personal income tax queries
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Once filed, it cannot be revised or rectified.'
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
Income Tax department's online tool empowers you to verify any notice or order you receive. This free service is available to everyone, regardless of whether you're registered on the e-filing portal.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
Central GST (CGST) field offices will remain open on March 29-31, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday. The CBIC directive came days after a similar directive from the Central Board of Direct Taxes (CBDT) regarding income tax department offices "to facilitate completion of pending departmental work.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
It is advisable to file your ITR right away and not rely on potential extensions.
Join Anil Rego for an online chat between 2 pm and 3 pm on Friday, July 8, 2016.
An accused is discharged at the stage of charge-framing when the judiciary is persuaded that the prosecution's claims do not contain adequate prima facie evidence to suggest criminal conduct.
'Vigilance' is a dreaded term for PSB employees and there are instances where this fear is misused by the higher authorities to tame their subordinate officials. This fear always deters PSB executives from making decisions -- the fewer the decisions, the less the chance of falling into trouble, points out Tamal Bandyopadhyay.
In a setback to the Centre, the Supreme Court on Thursday held that states have the legislative competence to impose taxes on mines and minerals-bearing lands under the Constitution.
'We have filed a complaint with the police authorities.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The income tax department on Wednesday issued FAQs on changes in the capital gains tax saying the idea behind it was to simplify the tax structure and promote ease of compliance. The holding period for various asset classes for the purpose of short- and long-term capital gains tax has been rationalised. The holding period of all listed assets will be now one year for the purpose of long-term capital gains tax (LTCG).
Hero MotoCorp on Tuesday posted 24 per cent increase in consolidated profit after tax at Rs 1,169 crore for the fourth quarter ended March 31, 2025 riding on higher margins backed by better product mix, parts revenue and cost effectiveness. The company had reported a consolidated profit after tax (PAT) of Rs 943 crore in January-March FY24.
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
Fraudsters lure individuals with false promises of recovering bonuses or maturity proceeds from lapsed policies.
It is essential to file returns when your income crosses/exceeds the basic exemption limit even if it means that on account of you investment planning, your tax obligation may be nil.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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