Stay updated with the latest income-tax news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on income-tax topics.
CHENNAI: Calling the DMK manifesto that was released on Sunday as the 'superstar that has entered the electoral area', the party president and Chief Minister M K Stalin said that it was an all-rounder that gave promises to women, students, youth, farmers, fisher folk, weavers, differently-abled, minorities and others. In his message on X, Stalin said on Monday that the manifesto was a "game-changing" plan for the State as it listed six steps towards progress with four for youth and two for farm ...Read More >
New Delhi: The income tax department on Monday said "banking company" governed by the provisions of the Banking Regulation Act, 1949, will deduct TDS on interest income beyond the prescribed threshold. Under the Income Tax law, the tax is to be deducted at source if the interest income from bank/post office deposits exceeds Rs 50,000 for ordinary citizens, or Rs 1 lakh for senior citizens, in a financial year. In a post on X, the income tax department said under Section 402 of the new Income T ...Read More >
Chennai, Mar 30 (PTI) TVK chief Vijay has declared total assets worth approximately Rs 603.20 crore in his election affidavit filed here on Monday. In the affidavit submitted to the Returning Officer, the 52-year-old actor-politician disclosed that he possesses movable assets valued at Rs 404.58 crore. His immovable assets, which include agricultural land in Kodaikanal and commercial and residential properties across Chennai, are valued at approximately Rs 198.62 crore. Specific liabilities li ...Read More >
Chennai, Mar 30 (PTI) TVK chief Vijay has declared total assets worth approximately Rs 603.20 crore in his election affidavit filed here on Monday. In the affidavit submitted to the Returning Officer, the 52-year-old actor-politician disclosed that he possesses movable assets valued at Rs 404.58 crore. His immovable assets, which include agricultural land in Kodaikanal and commercial and residential properties across Chennai, are valued at approximately Rs 198.62 crore. The candidate's spouse, ...Read More >
New Delhi, Mar 30 (PTI) The income tax department on Monday said "banking company" governed by the provisions of the Banking Regulation Act, 1949, will deduct TDS on interest income beyond the prescribed threshold. Under the Income Tax law, the tax is to be deducted at source if the interest income from bank/post office deposits exceeds Rs 50,000 for ordinary citizens, or Rs 1 lakh for senior citizens, in a financial year. In a post on X, the income tax department said under Section 402 of the ...Read More >
Patna (Bihar) [India], December 17 (ANI): The newly appointed Bihar BJP President, Sanjay Saraogi, will arrive at the party's state office in Patna on Thursday and formally assume charge, an official press release said. Outgoing State President Dilip Jaiswal will hand over the responsibilities to Saraogi in the presence of Bihar Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha. Bihar BJP Media In-charge Danish Eqbal informed on Wednesday that the newly appointed State President Sh ...Read More >
Mothers and their newborns participate in a workshop at the Maison de Naissance birth center in Bourgoin-Jallieu, France. (Jean-Philippe Ksiazek/AFP/Getty Images) BUDAPEST -- After years of people having fewer children, Europe is on the brink of a great contraction. Next year, the European Union expects its population to hit a peak before sliding into the first sustained decline on the continent since the 14th-century Black Death. That trajectory has raised alarms about shrinking workforces an ...Read More >
Strong retail traction and GST 2.0 reforms lift PVs, two-wheelers and three-wheelers to their best-ever November performance even as the industry maintains cautious optimism for FY26. India's automobile industry sustained its post-festive rhythm this month, with passenger vehicles, two-wheelers and three-wheelers marking their highest-ever November sales, supported by continued retail traction and the ongoing impact of GST 2.0 reforms, shows Society of Indian Automobile Manufacturers (SIAM) dat ...Read More >
New Delhi [India], December 15 (ANI): The Indian economy is poised to grow at 7.0 per cent in the current fiscal 2025-26, Crisil said as it raised projections by 50 basis points soon after the country registered robust growth in the first half. Crisil has revised its GDP forecast for this fiscal with the first-half growth printing at a street-beating 8 per cent. "We expect GDP to grow at 7 per cent in fiscal 2026, compared with 6.5 per cent in fiscal 2025," Crisil, a global, insights-driven an ...Read More >
The ED on November 18 arrested Jawed Siddiqui after it carried out simultaneous raids in Delhi-NCR in places connected to the trustees and promoters of Faridabad-based Al Falah University, linked to the Red Fort area car blast case, officials said. Al Falah University founder Jawed Ahmed Siddiqui, at the centre of a major investigation linked to the recent Delhi blast, was sent to Enforcement Directorate custody for 13 days by a Delhi court on November 19. Siddiqui who was picked up by the pol ...Read More >
New Delhi, Nov 19 (PTI) Dedicated refinance window on the lines of NHB for the NBFC sector and aligning long-term capital gains tax with fixed deposits to encourage deposit mobilisation are some of asks presented before Finance Minister Nirmala Sitharaman on Wednesday during a pre-Budget meeting with the representatives of BFSI sector here. There is a need to create a dedicated refinance window for NBFCs (non-banking financial companies) to ensure a smooth and sustainable flow of funds and reso ...Read More >
New Delhi, Nov 19 (SocialNews.XYZ) Mortgage finance companies outside the banking sector are expected to see strong growth over the next two years, a new report said on Wednesday. According to data compiled by Crisil Ratings, the assets under management (AUM) of non-bank mortgage lenders are set to rise by 18-19 per cent this fiscal and the next, matching the 18.5 per cent growth recorded last year. However, the three key loan segments -- home loans, loans against property (LAP), and wholesale ...Read More >
Senior Samajwadi Party leader Azam Khan and his son Abdullah Azam have been convicted and sentenced to jail. A special court in Rampur found them guilty in a 2019 case involving obtaining two PAN cards with different birth dates. The court delivered its verdict after examining evidence and testimonies. Both father and son were sent to jail following the conviction. Rampur (UP): Senior Samajwadi Party (SP) leader Mohammad Azam Khan and his son Abdullah Azam were on Monday convicted and sentenced ...Read More >
New Delhi, Nov 17: Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal on Monday expressed hope to meet the income tax collection target of Rs 25.20 lakh crore by the end of the current financial year (FY26). Speaking on the sidelines of the India International Trade Fair (IITF) here, Agarwal stated direct tax mop-up is growing at 6.99 per cent as compared to last year, which is an encouraging trend. "And we're hoping that we can reach the goals by the end of the year. The response from ...Read More >
New Delhi, Nov 10 (PTI) The iconic Jawahar Lal Nehru Stadium in the national capital will be "dismantled" to create a Sports City that will cater to all major disciplines and include lodging facility for athletes, a Sports Ministry source said on Monday. The 102 acre area of the stadium will be rebuilt but as of now, the plan is merely a proposal and therefore the time-line for the project and the estimated cost has not yet been worked out. "The stadium will be dismantled. All offices inside t ...Read More >
Mumbai/Pune : Bajaj Finance Ltd., India's largest private sector non-bank lender and part of Bajaj Finserv, today said it had seen a surge in consumption finance during the festive season, disbursing a record number of consumer loans, higher by 27% in volume and 29% in value as compared to the same period last year. The rise in consumption credit, represented by loans for consumer goods, reflects the positive outcome of the government's next generation GST reforms and changes in personal income ...Read More >
New Delhi: If you are depositing large amounts of cash in your bank account, this could attract the attention of the Income Tax Department. While most people consider depositing money in banks completely safe, transactions exceeding prescribed limits in a financial year can be flagged. Banks and cooperative banks are required to report such transactions to the tax authorities. Why People Are Worried Recently, the Income Tax Appellate Tribunal (ITAT) in Delhi clarified that if a substantial amo ...Read More >
Madras High Court in a significant ruling, has held that cryptocurrency now qualifies as "property" under Indian law, an asset capable of being owned, enjoyed, and held in trust. "There can be no doubt that cryptocurrency is a property. It is not a tangible property, nor is it a currency. However, it is a property which is capable of being enjoyed and possessed (in a beneficial form). It is capable of being held in trust," observed a single-judge bench of Justice N. Anand Venkatesh. Also Read ...Read More >
Chennai: Combined revenue deficit of 15 state governments in FY26 might exceed the Budget estimate of Rs 1.6 lakh crore by Rs 70,000 crore and touch Rs 2.3 lakh crore. The fiscal deficit too is likely to move up to Rs. 10.5 lakh crore or 3.3 per cent of GSDP in FY26 from the Budget estimate of Rs 10.3 lakh crore, finds ICRA. The states, including Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Utta ...Read More >
Earlier in the day, Udit Raj had claimed that the authorities forcibly threw his belongings out of the bungalow despite a court hearing being scheduled for October 28. Congress leader and former MP Udit Raj on Friday alleged that authorities forcibly evicted his family from their Pandara Park government bungalow in New Delhi despite the matter being sub-judice, claiming it was caste-based "harassment." However, according to sources in the Union Ministry of Housing and Urban Affairs, Raj's wife, ...Read More >
Mumbai: The Indian unit of global streaming giant Netflix reported a 63% increase in net profit to ₹85 crore for FY25, according to its filings with the Ministry of Corporate Affairs (MCA), sourced from Tofler. Netflix Entertainment Services India LLP had posted a profit of ₹52 crore in the previous financial year. Revenue from operations grew 32% to ₹3,769 crore from ₹2,846 crore a year earlier, driven by strong subscriber additions through direct acquisitions and bundling partnerships with te ...Read More >
New Delhi, Oct 24 (PTI) Congress leader and former MP Udit Raj on Friday alleged that authorities forcibly evicted his family from their Pandara Park government bungalow in New Delhi despite the matter being sub-judice, claiming it was caste-based "harassment." However, according to sources in the Union Ministry of Housing and Urban Affairs, Raj's wife, retired IRS officer Seema Raj, stayed five months beyond the permissible period and owed over Rs 21 lakh in dues. The sources confirmed that Ra ...Read More >
Srinagar, Oct 22 (PTI) Of 17 candidates whose nominations have been accepted for the bypoll in Budgam Assembly constituency, nine are crorepatis, three have criminal cases, while only eight have passed class 12. Twenty candidates submitted their nominations for the November 11 bypoll, however, nominations of only 17, including seven independents, were accepted. Of these 17, National Conference (NC) candidate Aga Syed Mehmood is the richest with total assets of more than Rs 15 crore. A busines ...Read More >
New Delhi, Oct 22 (SocialNews.XYZ) India experienced a bumper festive season this year, with sales of consumer goods, automobiles, jewellery, handicrafts, and decorative items recording a sharp surge during Diwali, signalling renewed consumer confidence and economic momentum, economists said on Wednesday. Dr Manoranjan Sharma, Chief Economist at Infomerics Ratings, stated that the surge reflects a strong revival in domestic demand and a growing preference for Indian-made products. "There has be ...Read More >
Since the announcement of Bihar Assembly elections, authorities have seized liquor worth Rs 23.41 crore, cash, drugs, and freebies totaling Rs 64.13 crore. Over 750 people have been arrested, with intensive surveillance and enforcement measures in place to ensure fair polling Patna: Enforcement agencies have seized liquor, cash, drugs, and freebies with a combined value of Rs 64.13 crore across Bihar since the announcement of the schedule for the assembly elections on October 6, officials said ...Read More >
Bihar Assembly Election: Liquor, cash, drugs and freebies worth a total of Rs 64.13 crore have been seized across Bihar since the Election Commission announced the schedule of the Bihar Assembly Election on October 6. According to officials, 753 arrests have been made, while 13,587 non-bailable warrants were executed in the poll-bound state by the police and other agencies since poll scheduler was announced. In a statement, Office of the Chief Electoral Officer (CEO) said enforcement agencies h ...Read More >
Bengaluru, Oct 20 (PTI) Expressing displeasure over the central government's flood relief allocation to Karnataka, Minister Priyank Kharge on Monday said the BJP ruled states consistently receive more funds, while states not aligned with the NDA or the saffron party are "always short changed". Kharge, who holds the Rural Development and Panchayat Raj portfolio, said the funds released are just not enough, given the huge losses reported by the state. Union Home Minister Amit Shah has approved a ...Read More >
The whispers about a change in leadership in Karnataka are no longer whispers. They are loud, persistent, and politically loaded. Several Congress MLAs have openly stated that Siddaramaiah must soon hand over the reins to Shivakumar -- a statement that has once again brought to the surface the long-running undercurrent within the Congress government over the question of succession. When Shivakumar visited the Hasanamba Temple this week, his words reignited the buzz. "Only I and God know when I ...Read More >
The real boost in vehicle sales this festive season has come from India's hinterland, with good rainfall replenishing incomes and the GST rate cut making small cars (often the first four wheeler for a family) attractive to this segment of buyers once again. Shailesh Chandra, president of the Society of Indian Automobile Manufacturers (SIAM), said today that rural pockets are showing signs of strong growth due to a bountiful monsoon and the impending marriage season. As per SIAM data, passenger ...Read More >
New Delhi [India], October 17 (ANI): As the lamps of Diwali flicker across India this year, from the tribal heartlands of Odisha to the sandy villages of Rajasthan and the chawls of Pune, some families are celebrating a new kind of Lakshmi Puja, one not marked by gold coins or rituals, but by pride and tears of joy. Their daughters, once told that sports were no place for women, have become symbols of fortune and empowerment through the game of Kho Kho. These young women - Magai Majhi from Odis ...Read More >
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