INCOME
Firms pin hopes on new tax regime to revive mass demand after prolonged slump
Companies anticipate increased demand due to income tax relief starting in April. This could boost consumption, especially in tier-2 and tier-3 markets. Hindustan Unilever expects consumers to either spend more or save more. Honda Motorcycle & Scooter India foresees a positive shift in entry-level demand. Joy Personal Care anticipates a more positive demand environment.
ITR forms 1, 4 notified for FY 2024-25 (AY 2025-26): Major overhaul in ITR Form 1 to include these long-term capital gain taxes, check what else has changed
ITR forms for FY 2024-25 notified: The Central Board of Direct Taxes (CBDT) has notified some income tax return forms. The notification has been issued for ITR-1 and ITR-4 forms. There is a major change in the ITR-1 form. Read on to know what has changed in this year's ITR forms.
Punjab hybrid rice ban to cost farmers up to Rs 10,000 per acre, says industry body FSII
The Federation of Seed Industry of India (FSII) is urging central intervention against Punjab's ban on hybrid paddy seeds, warning of substantial income losses for farmers. FSII argues the ban, citing water depletion and milling recovery issues, contradicts the Seed Act and threatens farmers relying on these high-yield, adaptable varieties.
Complete tax cut in US soon? President Trump again drops big hint on its elimination through tariffs
Will there be a complete tax cut in the United States? US President Donald Trump has dropped a big hint on how he plans to eliminates income tax through tariffs. 'Focus will be on people making less than $200,000 a year,' he noted. We’re going to make a lot of money, and we’re going to cut taxes for the people of this country, he said.
Embassy REIT surpasses leasing target, clocks 10% growth in revenue and net operating income
Embassy Office Parks REIT reported a 10% increase in both revenue and net operating income for FY25, driven by strong leasing activity, particularly from Global Capability Centers. The REIT exceeded its leasing guidance, achieving 6.6 million sqft in leases and anticipates double-digit distribution growth in FY26.
CSB Bank Q4 Results: Net profit rises 26% to Rs 190 crore; margins shrink
CSB Bank Q4 results: CSB Bank posted a 26% YoY rise in Q4FY24 net profit to Rs 190.44 crore, supported by strong fee and treasury income, despite lower net interest margins.
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ITR forms yet to be notified by Income Tax Department: Will it lead to ITR filing deadline extension?
ITR filing deadline 2025: The income tax department has not yet notified the income tax return forms. As the one month is about to pass, will the late notification of the ITR forms lead to extension of the ITR filing deadline. Read on to know what experts say about this.
National Mission for Clean Ganga gets tax exemption status
The Finance Ministry has granted income tax exemption to the National Mission for Clean Ganga (NMCG), effective from the assessment year 2024–25. As per a CBDT notification, NMCG is now recognized as an authority under the Environment (Protection) Act, 1986.
Lavish holidays? Get details ready for new ITR form
The Central Board of Direct Taxes is updating income tax return forms. This aims to address income underreporting. The new forms will seek more details on exemptions and expenditures. This includes information on expensive holidays. The goal is to identify discrepancies between income and spending. The department plans to incorporate some changes this assessment year.
Here’s why SSI recipients will get double payments in May: Full 2025 schedule
Supplemental Security Income (SSI) is a federal assistance program that provides financial support to individuals who are 65 or older, blind, or living with a qualifying disability, and who have limited income and resources.
Trump repeats old plan more tariffs = less income tax
Amid rising economic anxiety, US President Donald Trump suggested tariffs could lead to income tax cuts for those earning under $200,000. This proposal comes as polls indicate growing disapproval of Trump's economic policies.
Big growth, bigger gaps: India's uneven pay story
Despite India's rising GDP per capita between 2017 and 2024, income inequality in the labor market persists. While median incomes increased, the top 1% experienced faster growth than the bottom 50%. Workforce composition shifts, with a rise in self-employment and a decline in regular salaried jobs, further exacerbate these income disparities, highlighting the need for targeted interventions.
Pulling out poverty one clump at a time
India has made significant strides in poverty reduction, lifting millions out of extreme poverty and transitioning to a low middle-income country. While progress is noteworthy, challenges remain in eradicating extreme poverty and ensuring no one is left behind as the economy grows. Focus on employment, social security, and reforms to improve productivity and welfare are crucial for sustained progress.
Root cause of slowdown widespread real-income stagnation: Jairam Ramesh
Congress leader Jairam Ramesh highlighted Maruti Suzuki India's chairman R.C. Bhargava's observation that car ownership in India is largely limited to the top 12% of households. Ramesh attributed the economic slowdown to widespread real income stagnation affecting the majority, making even small cars unaffordable.
Too much focus on luxe buys isn't chic
To curb income tax evasion, India has expanded the list of high-value purchases subject to a 1% TCS, targeting underreported income among the wealthy. While this aims to boost revenue and address economic inequity, there's a risk it could dampen luxury consumption and push sales into informal channels.
RBL Bank Q4 Results: Consolidated profit slumps 76% to Rs 87 crore as unsecured loans bite
State-owned Bank of Maharashtra (BoM) on Friday reported a 23 per cent rise in net profit to Rs 1,493 crore in the March 2025 quarter on the back of core income and reduction in bad loans.
Bank of Maharashtra Q4 Results: Profit jumps 23% to Rs 1,493 crore
State-owned Bank of Maharashtra (BoM) on Friday reported a 23 per cent rise in net profit to Rs 1,493 crore in the March 2025 quarter on the back of core income and reduction in bad loans.
Shriram Finance Q4 Results: Standalone profit rises 10% YoY to Rs 2,139 crore; Co declares Rs 3 dividend
Shriram Finance Q4 Results: Shriram Finance reported a 10% YoY rise in Q4 FY25 net profit, driven by strong disbursements, net interest income, and revenue growth. The company also saw a 36% profit surge for FY25, maintaining stable asset quality and a growing loan book.
Senior citizen FD plans with monthly payouts for retirement income
Bajaj Finance Senior Citizen FDs offer a secure way for retirees to earn a guaranteed monthly income with high interest rates up to 8.60% per annum. These FDs provide capital safety with AAA ratings and flexible tenures, ensuring financial stability and peace of mind during retirement. Benefit from monthly payouts and easy online access.
Explained: Do NRIs need to disclose foreign bank accounts in Indian tax returns?
The Income Tax Department clarified that NRIs generally don't need to disclose foreign bank accounts in Indian income tax returns. Disclosure is only mandatory when claiming a refund without an Indian bank account or when taxable Indian income is directly deposited into a foreign account. This aims to simplify the filing process for NRIs.
Why is the tax-free income Rs. 12.50 lakh and not Rs. 12.75 lakh under the new tax regime for salaried taxpayers?
Standard deduction in the new tax regime: Due to an error in Budget 2025, a salaried employee may not be able to avail of the standard deduction of Rs 75,000 from their salary. Instead, he may get a standard deduction of Rs 50,000 even in the new tax regime. Read on to know why.
Pay new income tax TCS of 1% on these luxury goods above Rs 10 lakh; CBDT issues notification
TCS on luxury goods: The income tax department has issued two notifications specifying the list of luxury goods on which tax will be collected at source (TCS) from the buyer. The TCS will be levied on the purchase of luxury goods. Know the new TCS rules on buying luxury goods like Omega watches, Birkin bags, etc.
?2.6 crore flat and zero tax: How a Mumbai man won twice in court
In a significant ruling, the Income Tax Appellate Tribunal (ITAT) has declared that a Mumbai resident will not be taxed on a ?2.6 crore flat received as compensation for vacating land he allegedly occupied illegally. The ITAT classified the flat as a non-taxable ‘capital receipt,’ overturning the tax officer's initial assessment and providing a major financial relief to the resident.
Can I switch to the old income tax regime while filing ITR?
Our panel of experts answers questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Several new items come under TCS as I-T widens tax net
The govt is broadening its tax base by implementing a 1% TCS on luxury items exceeding Rs 10 lakh, effective immediately. This initiative targets underreported income and aims to track high-value transactions in categories like watches, handbags, and art. The move enhances scrutiny of both buyers and sellers, addressing concerns about tax evasion and smuggled goods.
Catch the nouveau riche! Income tax dept casts a new dragnet
India's burgeoning affluent class, particularly in smaller towns, is driving luxury goods sales, often evading income tax. To address this, a new tax collected at source (TCS) on luxury purchases exceeding Rs 10 lakh will take effect from April 22, 2025. This measure aims to enhance transparency, curb unaccounted cash transactions, and ensure tax compliance among high-net-worth individuals.
Trump Social Security tax plan: What does it really mean for middle-class retirees and how should you prepare now before it’s too late?
Trump Social Security tax plan could bring relief to many middle-class retirees, but it also raises serious questions about long-term financial security. With a proposal to eliminate federal taxes on Social Security benefits, experts warn that retirees need to be proactive. From adjusting income strategies to understanding how this could affect Medicare costs and retirement withdrawals, this guide breaks down what every retiree should consider. Learn how to diversify income, lower taxes, and plan smarter — before policies change.
As equities wobble, bonds shine brighter: why is fixed income regaining favor with risk-averse investors
Amidst volatile equity markets, investors are increasingly seeking stability in fixed income options like corporate bonds and debt funds. Experts suggest that potential rate cuts and geopolitical risks make fixed-return investments appealing for the next 2-3 years.
Rural Consumer Confidence Survey reveals optimism in income and spending for 2025
A Reserve Bank of India study indicates that rural Indian households anticipate improved earnings and maintain strong spending sentiment, particularly on essential items. The Rural Consumer Confidence Survey (RCCS) reveals optimism about future income, despite persistent inflation concerns. While inflation perceptions remain elevated, they exhibit a moderating trend, contributing to a positive outlook.
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