With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
Not a single retail outlet ran dry. Every household that wanted a cylinder got one. India faced neither a 1991 moment nor a 2013 one. Macroeconomic stability held. This was not an accident, and it was not luck alone. It was the work of a government that chose to act as it had during the pandemic -- deliberately and gradually, building one measure upon another rather than reaching for a single dramatic lever, explains V Anantha Nageswaran, chief economic advisor to the Government of India.
'AIS helps taxpayers check whether all income streams and reportable transactions -- such as interest from old bank accounts, small dividend receipts or transactions across multiple brokers -- have been properly disclosed.' 'Mismatches between these transactions and declared income may trigger automated notices or scrutiny.'
Tax treatment depends on the activity and manner of earning income.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
Proposal forms are often filled by the agent. Check the form after it is filled.
The tax treatment of equity savings funds makes them appealing, especially to investors in higher income-tax brackets.
Long-duration bonds allow investors to match investment tenure with long-term liabilities and also stabilise their long-duration portfolios.
Life cycle funds may suit people who are starting their investing journey. They may suit those who do not want to monitor their investments frequently. Busy professionals, beginners and delegators, who lack the time, information or interest to manage asset allocation actively, may find these funds useful.
rediffGURU T S Khurana answers readers' personal income tax queries
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
Actor Mohanlal has declared possession of 10 elephant tusks and 13 ivory idols to the Kerala Forest Department under an amnesty scheme. This new disclosure comes as he continues to face trial for alleged illegal possession of wildlife articles, a case that originated in 2011 and has seen the Kerala High Court direct the continuation of legal proceedings against him.
Taxability in property transactions depends on the actual source of funds and beneficial ownership, not on whose name appears in the purchase agreement.
If you have ever said 'I'll sort retirement later,' now is when 'later' begins.
Recent changes to tax exemptions and allowances, including increased education, hostel, and HRA limits, have made the old tax regime more competitive against the new regime, prompting salaried employees to re-evaluate their choice for the current financial year.
The Income Tax Department has clarified that income from the transfer of investments made before April 1, 2017, is excluded from the scope of the General Anti-Avoidance Rules (GAAR), addressing industry concerns about retrospective application.
Salaried taxpayers should not use these forms blindly to file their income-tax returns.
A key mistake would be continuing to rely on provisions of the Income-Tax Act, 1961, where the new law now applies, and vice versa.
The Indian government is accelerating its sale of minority stakes in state-owned companies, including a significant offer for sale (OFS) in Life Insurance Corporation of India (LIC) expected "very soon," to meet its 80,000 crore mobilisation target and reduce its holdings to 75 per cent in most listed PSUs by year-end.
Amid the buzz over a split in the ranks of Lok Sabha MPs of Shiv Sena-Uddhav Balasaheb Thackeray through "Operation Tiger", Maharashtra Chief Minister Devendra Fadnavis on Sunday said the "operation" has been successful. His deputy and Shiv Sena president Eknath Shinde said he never leaves an operation incomplete.
The best time to buy health insurance is when you don't think you need it.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
LAMF allows investors to access liquidity while staying invested.
Your children may always love you but should you expect them to to finance your retirement in today's economy?
Read all account documents, ask questions, and conduct basic due diligence before agreeing to become a joint holder.
In the rush to complete tax-saving investments at the end of the financial year, many taxpayers choose instruments that do not match their long-term financial goals.
Rising income feels like success but unchecked lifestyle inflation traps urban professionals into financing a more expensive version of living paycheck-to-paycheck -- buying material upgrades instead of true future financial freedom.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Despite the Centre's GST 2.0 guidelines aiming to facilitate provisional refunds within seven days for low-risk cases, many large taxpayers are still encountering significant delays in obtaining Goods and Services Tax (GST) refunds under the inverted duty structure (IDS), with experts citing inconsistent state-level scrutiny and subjective interpretations.
Cross-check key documents, maximise your deductions, avoid errors, and ensure you get your refund smoothly.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Students and families must stress test repayment capacity based on Indian salary standards.
Around 80 lakh women in Maharashtra have been disqualified from the Mukhyamantri Majhi Ladki Bahin scheme after failing to meet the e-KYC deadline, leading to accusations from opposition parties that the state government is reducing beneficiaries due to financial constraints.
Young buyers often underestimate future health risks.
'Among corporates, about 60% of income is now reported under the new tax regime.'
To meet liquidity pressure because of advance tax outflows this month, the Reserve Bank of India (RBI) has adopted a measured approach with its latest announcement of open-market operations (OMOs), worth Rs 1 trillion.
The most common mistake is investing without assessing suitability and long-term implications.
