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New Delhi: Taxpayers have received a major relief regarding Long Term Capital Gains (LTCG) from the stock market. The government has now allowed LTCG of up to Rs 1.25 lakh to be reported in the simpler ITR-1 form. This applies to gains from listed shares and equity mutual funds. Earlier, even a small LTCG required taxpayers to file ITR-2, which is more complex. With this change, small investors can now avoid complicated tax forms and file returns more easily. Who Benefits the Most? This move ...Read More >
New Delhi: Former French President Nicolas Sarkozy was handed a five-year prison sentence on Thursday over allegations that he solicited campaign funds from ex-Libyan leader Muammar Gaddafi during his 2007 presidential run. The court acquitted him of three additional charges, including passive corruption, illegal campaign financing and concealment of embezzled public funds, according to the Associated Press. Sarkozy, 70, appeared in court alongside his wife, singer and model Carla Bruni-Sarkozy ...Read More >
* Tax, Legal & Accounting * 1 min read I-T dept conducts raids in bogus tax deductions case The Income-Tax Department initiated multi-city raids targeting entities facilitating bogus deductions in tax returns. The investigation focuses on false claims related to political donations, medical insurance, tuition fees, and certain loans. This action follows the discovery that some taxpayers didn't correct their ITRs despite the department's outreach under the NUDGE campaign. New Delhi, The Income ...Read More >
New Delhi, Jul 14 (PTI) The Income-Tax Department on Monday launched multi-city raids as part of a tax evasion probe against those entities which assist certain individuals avail bogus deductions in their returns by claiming a variety of exemptions, official sources said. They said false deductions claimed by persons in lieu of making political donations to registered or unregistered political parties, payment of medical insurance, tuition fee and certain category of loans are among those cases ...Read More >
Some in the House panel have questioned the likely priorities of a government elected for a short period. ShowQuick Read Summary is AI-generated, newsroom-reviewed Former chief justices endorse constitutionality of simultaneous polls conceptDY Chandrachud warns EC power could alter state assembly tenure without limitsShort tenures after midterm polls may hinder government project implementation Did our AI summary help? Let us know. New Delhi: Former chief justices of India, who have conve ...Read More >
New Delhi: Former Chief Justices of India have reportedly endorsed the constitutionality of the 'one nation, one election' (ONOE) concept, while conveying their views to a parliamentary committee on the Bill proposing simultaneous polls. They have also raised concerns over its various aspects, including the power given to the Election Commission, and offered suggestions. Former CJI D.Y. Chandrachud, in his opinion submitted to the joint committee of Parliament, dismissed the Opposition's critic ...Read More >
New Delhi: Alleging "blatant misuse" of agencies to defame its leaders, AAP on Thursday questioned why the first information report filed against former Delhi ministers Saurabh Bharadwaj and Satyendar Jain was being kept under wraps and "selective" press notes were being leaked to the media.Bharadwaj, who is Delhi AAP convener, alleged that only two former ministers were named in the case without any reasonable cause while all the officers of the health and public works departments, who were act ...Read More >
NEW DELHI: Former Chief Justice of India (CJI) Dhananjaya Y Chandrachud has raised some concerns about simultaneous state and parliamentary elections in his submissions to a joint parliamentary committee and called for a level-playing field between smaller and national parties, people aware of the matter said on Thursday. Ex-CJI Chandrachud and another former CJI, JS Khehar, are set to attend on July 11 a meeting of the JPC examining the Constitution (129th Amendment) Bill and the Union Territo ...Read More >
Sam Altman is the latest tech exec to get a seat at the political table. The OpenAI cofounder and CEO is cochairing the transition team for San Francisco mayor-elect Daniel Lurie, Lurie announced Monday. The other cochairs include alums from local government and nonprofits, as well as Ned Segal, Lurie's campaign cochair and Twitter's former CFO. "I'm excited to help the city I love, and where OpenAI was started, as it begins its next chapter with Mayor-elect Lurie stepping into his new rol ...Read More >
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