A bench of Justices BV Nagarathna and N Kotiswar Singh, which issued notice on the plea of the Congress against the March 13 high court order, however, said the ITAT can proceed on the political party's appeal.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order. The Bengaluru-headquartered company said it is in the process of evaluating the impact of the order on its financial statements for the quarter and year ending March 31, 2024. Infosys also said it is evaluating filing an appeal against this order.
Filmmaker Ram Gopal Varma has been issued a non-bailable warrant by a Mumbai sessions court after he failed to appear in court to address a cheque bounce case. The court rejected his plea for suspension of a three-month jail sentence and ordered his arrest. The case stems from a 2018 complaint by a company that alleged Varma's firm issued two dishonored checks totaling Rs. 3,72,219.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'Going forward, the encouragement would be to move to the new tax regime.'
Miss the March 31, 2018 deadline to file belated tax return for FY16, and risk an I-T notice and a hefty fine.
Tax payers need not dread filing returns as the process can be simplified.
The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Senior Congress leader Shashi Tharoor on Tuesday attacked the Centre over the glitches in the new income tax portal, alleging that even after spending Rs 4,200 crore on it, the government had "failed" to make it user-friendly and created a "mess" instead.
Sources said that Langa and an unidentified employee of the Gujarat Maritime Board (GMB) have been booked on the charges of theft and under relevant sections of the Prevention of Corruption Act.
Some of his directives had the Supreme Court judges disclose their assets whereas the row over the discovery of cash from a sitting judge's official residence paved way for inquiry.
'The increase in the limit for TDS on interest to Rs 1 lakh will ensure greater cash flow in the hands of senior citizens.'
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
How the Aadhar card would be linked to income tax return is yet not clear
In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Personal income tax is growing by 27 per cent and most refunds have already been issued.'
ELSS investments require a long-term commitment of at least seven years.
The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
However, the meeting of the company's board of directors, through video conferencing, started at 1.30 pm and ended only at 11.50 pm on Tuesday, according to a filing made to BSE at 12.51 am on Wednesday. In the 2024 December quarter, the airline, which had been facing multiple headwinds, raised Rs 3,000 crore from qualified institutional investors.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Form 16 contains details of salary income, deductions, and exemptions.
The government on Thursday extended the deadline till December 31 for filing of income tax returns by individuals for the financial year 2021, amid the coronavirus pandemic and technical glitches in the IT portal. Earlier, the deadline was extended to September 30, 2021. Usually, the last date for filing the ITR (Income Tax Returns) for the individual taxpayers is July 31. "On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961, Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22," the finance ministry said in a statement.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Mankind Pharma Ltd on Wednesday said it has been imposed a GST related penalty of over Rs 2 crore by tax authority in Kolkata over alleged mismatch in figures for the period of FY18 to FY22. The company has received an order on January 14, 2025 from Office of the Commissioner of Kolkata South CGST & CX -- issued by Additional Commissioner, Mankind Pharma said in a regulatory filing.
The form, introduced by the Central Board of Direct Taxes in April, is supposed to make filing tax returns easier.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
Mahesh Padmanabhan of RelaxwithTax will host 'The Tax Window', a chat to answer all your tax queries between 2 pm and 3 pm IST on Monday, July 16, 2011.
Donald Trump is catering to the basest fears and prejudice of unenlightened Americans -- yes, there are those too, in sizeable enough numbers to elect one of their own as president. That would most certainly not Make America Great Again, asserts Shreekant Sambrani.
The Enforcement Directorate (ED) has filed a money-laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan and her IT firm for receiving 'illegal payments' from a Kochi-based private firm, official sources said on Wednesday.
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