Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
'Ensure that all property-related documents are up-to-date.' 'Relying on outdated documents can create legal complications.'
Seems daunting? With right financial planning, patience, and commitment, this goal is entirely achievable, says Ramalingam Kalirajan. Here's how
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Supreme Court on Wednesday rejected the Centre's plea for prospective effect of its July 25 verdict, which upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
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.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class. The Budget 2023-24 has proposed changes in the optional tax regime, which was introduced in 2020-21. Speaking to reporters after presentation of the Budget, Sitharaman said the country has been waiting for a direct tax regime which is simplified and easy in compliance.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
'But when we actually express ourselves, sometimes our parents can surprise us, because they just love their children.' 'Sometimes it's just that simple. That is what I wanted to show in this film.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Amid a social media storm over the death of a young employee at tax consultancy major EY allegedly due to work pressure, Deloitte has formed a three-member external committee, which includes former revenue secretary Tarun Bajaj, to look into practices, policies and processes concerning employees, its South Asia CEO Romal Shetty said on Friday. Shetty said to manage the work pressure within the organisation and have an open work culture, Deloitte has a chief happiness officer and takes strictest action for any bad behaviour within the organisation. Deloitte is one of the four major global tax consultancy firms.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
Ensure the sum insured for the super topup is enough to cover even worst-case scenarios.
One reason the fee can't be lower than 3 per cent is that it is difficult for an RIA to do a good job and remain viable even at 3 per cent.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
'They take care of the problem: How can I ensure my child's education and other goals are not compromised, even if I am not around?'
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Long-term investors should never stop their SIPs during market corrections.
The Bombay high court has slammed the decision of Maharashtra government to not charge the Board of Control for Cricket in India for police protection given during cricket matches conducted in the state.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The suspected undisclosed income in these cases could reach as much as Rs 15,000 crore.
The Income Tax authorities have left the offices of the BBC in New Delhi and Mumbai after three days of lengthy questioning of some of its staff, the United Kingdom-headquartered public broadcaster said on Thursday.
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