As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
As of now, no firm has launched a flex-fuel vehicle in India, as these models are more expensive than comparable petrol-run vehicles.
The change in the government's engagement with the economy's need for reforms is more nuanced than how analysts have so far perceived it, points out A K Bhattacharya.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
The Supreme Court has said that selling land or property is not a service under the Finance Act, 1994, so such sales cannot be charged with service tax.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
'Tax cases are technical in nature... Many high courts do not have a tax bench, which also contributes to the delay.'
'IndiGo is fooling the country and the government has succumbed to it.'
Supply chains are evolving from operational backbones to strategic growth enablers for organisations, though they remain underleveraged and struggle for recognition at the executive level, a report by PwC India said. The survey highlighted that recent developments in the trade and tariff landscape represent both a stress test and a strategic inflection point for supply chains.
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
'Removing Nitish Kumar prematurely risks unsettling both the alliance balance and parts of the social coalition that delivered this victory.'
Understanding severance pay isn't just for those who are losing their jobs
Currently, India has five publicly listed Reits: Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit Nexus Select Trust, and Knowledge Realty Trust.
Amid the impending rejig in the goods and services tax (GST) rates, an association representing the country's beverages industry has appealed to the Centre to not classify aerated beverages as sin/demerit good and bring it under the 18 per cent slab while citing their "mass consumption" as a reason.
Grant Thornton Bharat's latest survey indicates that hybrids are set to consolidate market share this festive season, bridging the gap between conventional petrol engines and the emerging electric vehicle segment.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
These changes certainly bring India's GST a lot closer to what an ideal GST would look like, points out Karan Bhasin.
After issuing notices to hotels across the country for allegedly underpaying goods and services tax (GST) on restaurant services, the revenue department has now widened its scrutiny by seeking information from online travel platforms.
Have income tax-related questions? Ask rediffGURUS Mihir Tanna, Vipul Bhavsar, T S Khurana, Vivek Lala and Anil Rego.
Do not panic on receiving a notice. Verify if your work falls under professions notified in Section 44AA(1).
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The new Income Tax Bill, passed by Lok Sabha on Monday, has retained the provisions regarding ITR filing for TDS claims and tax exemptions for anonymous donations made to all religious-cum-charitable trusts, as in the existing tax laws. The original Income Tax Bill, which was brought in Parliament in February, had done away with this exemption and the ITR filing flexibility for claiming TDS refunds.
rediffGURU T S Khurana answers readers' personal income tax queries
The 13th-month persistency rate of life insurers - an important metric indicating the retention of new policies - declined in the first quarter of 2025-26 (Q1FY26). This fall was primarily driven by a lower share of high-value policies, following taxation changes implemented in April 2023.
The US remains the largest market for IT outsourcing, and for Indian giants TCS, Infosys and Wipro, it contributes around 40 per cent of their top line.
Kundra, accused of diverting a loan amount, has been asked to appear before EOW officials on September 15.
Businessman Raj Kundra, husband of Bollywood actor Shilpa Shetty, has been summoned by the Economic Offenses Wing (EOW) of the Mumbai Police in connection with an alleged Rs 60 crore cheating case.
'High taxes have kept away art collectors who will now embrace the new GST.'
The Monsoon session of Parliament saw the passage of several key bills in both the Lok Sabha and Rajya Sabha, despite repeated disruptions and adjournments.
'Amazon, Meta, Google, Microsoft have large operations in India and rely on smooth trade and data flows.' 'Restrictions could raise their costs, limit AI chip exports, and complicate their India strategies.'
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
The Securities and Exchange Board of India (Sebi) has planned a slew of further relaxations to facilitate easier registrations of foreign portfolio investors (FPIs), including a common know-your-client (KYC) and smoother documentation through India digital signature.
Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
'They are positioned as defensive products and can potentially give marginally higher returns than liquid funds.'
'First-time investors, busy professionals, NRIs and those with modest sums looking for curated strategies may find FoFs especially appealing.'
Two-wheeler sales volume is expected to grow 5-6 per cent this fiscal, while that of passenger vehicles to see a 2-3 per cent rise, following the GST rates rationalisation on automobiles, according to Crisil Ratings. The GST Council's decision to move to a two-rate structure of 5 per cent and 18 per cent, effective September 22, 2025, is a timely move that will revive demand for automobiles, Crisil Ratings said in a statement.
Electric vehicle (EV) manufacturers breathed a sigh of relief after the GST Council on Wednesday night retained the concessional 5 per cent rate on EVs, though they now face competition from small petrol and diesel cars, which will attract a lower 18 per cent levy.
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