Taxpayers who have shown fake deductions in their ITRs (income tax returns), made false claims or deliberately concealed any income are warned by the Income Tax Department to correct their mistake by filing a revised ITR – ITR-U. Otherwise, they will have to face strict action, the finance ministry recently said in a circular. In
In today’s world, spending money wisely has become a rare quality as there are countless ways to splurge — from expensive cars and luxury houses to branded items and even the pressure to show off on social media. If you are someone who often spends money unnecessarily or mindlessly and wants to break this habit
A credit card is not just a plastic card these days, but a financial responsibility. When the credit card bill comes at the end of the month, many people just pay the “minimum due” and think their work is done. As easy as this option seems, it can prove to be equally dangerous if it
Term insurance is a security cover that works to provide financial support to your family in your absence. It is taken with the expectation that if the family needs support in case of any untoward incident, the insurance company will pay the claim. But what if that claim gets rejected? There are many cases where
With stricter validation checks and evolving tax return formats, a growing number of taxpayers across India are facing issues related to incorrect or incomplete Income Tax Return (ITR) filings. The consequence? A spike in ‘defective return’ notices under Section 139(9) of the Income Tax Act, leading to refund delays, penalties, and in some cases, returns
What would you do if you were fired today? Would you spiral into panic or pause in relief? In a raw and unnervingly honest Reddit post, a 36-year-old man from North Delhi lays bare his financial life after getting fired. But this isn’t a sob story. It’s something more jarring: a confession, an audit of
The recent changes made by the government in the Employees’ Provident Fund (EPF) rules have come as a big relief, especially for salaried people who want to buy a house for the first time but have been finding it difficult to arrange for the down payment. Now, employees will be able to withdraw money from
The Income Tax Return (ITR) filing season for Assessment Year 2025-26 started a little late this time. Usually, the process of filing returns starts in April every year, but this year, there was a delay in releasing ITR forms and utilities from the Income Tax Department. By the end of May, only the utility of
WHENEVER A NON-RESIDENT Indian (NRI) sells a property, the buyer has to deduct tax on the gross sale consideration rather than on the actual taxable gains. However, there’s a way out to ensure that tax is withheld only on the real capital gains arising from the sale and not on the entire transaction value. For this
After being formally separated from gambling-based segments, esports are now eyeing towards becoming a far more attractive proposition for mainstream corporate sponsors and institutional investors. Esports’ Rise vs. RMG’s Decline Esports, which traditionally depends on sponsorships and media rights, is now expected to grow fan-led monetisation through event ticketing, merchandise and digital engagement. Big brands
Shares worth Rs 1.75 lakh crore are set to be unlocked in the next three months (August 28-November 27), as the pre-listing lock-in period of promoters, anchor investors, and other shareholders in 57 companies is set to expire, according to a report by Nuvama Institutional Equities. While this unlocking will increase the supply of shares
Paving the way for an overhaul of the eight-year-old goods and services tax (GST) regime, a group of ministers on rate rationalisation has given its nod to the Centre’s proposal for a reduction in tax slabs and rates, even as some opposition-ruled state sought compensation for revenue losses. This is a shot in the arm
After the government unveiled a sweeping ban that could wipe out their businesses overnight, a shell-shocked online gaming industry has requested the government to reconsider and take a more calibrated stance on banning real money gaming (RMG). Some are also weighing the option of taking legal recourse. The Esports Players Welfare Association (EPWA) on Wednesday
