PERSONAL TAX
Why a 9% personal inflation rate could change your retirement corpus calculations
Equity can fall 30-40% in a bad year, so money needed in the next few years must never sit there. A conservative investor may hold less. Few can afford to hold none: avoiding equity swaps the risk of a temporary fall for the certainty of losing purchasing power.
81-year-old Bengaluru CA helps 8 companies send Rs 200 crore overseas, seeks protection from arrest after tax evasion probe, blames staff misused his digital signature
An 81-year-old Bengaluru chartered accountant allegedly issued 163 Form 15CB certificates for eight companies involved in foreign remittances worth Rs 200.58 crore. He claimed his staff misused his digital signature. A Mumbai special court rejected his anticipatory bail plea, questioning the timing of his police complaint.
FD rate up to 8.6% for senior citizens investing for five years; know the list of banks
Senior citizens can invest in fixed deposits with interest rates reaching up to 8.6%. Suryoday Small Finance Bank leads with these attractive rates for a five-year term. Jana Small Finance Bank follows, offering an 8% interest rate on similar deposits.
Capricorn Weekly Horoscope, November 9 - November 15, 2026: Career Decisions and Financial Responsibilities Take Centre Stage
Capricorn Weekly Horoscope, November 9–15, 2026: Mars enters Leo on November 12, activating your Eighth House of shared finances, loans and unexpected developments. Mercury turns direct in Libra on November 13, while Venus ends its retrograde phase on November 14. These planetary movements may bring attention to professional responsibilities, pending financial matters and personal relationships. Avoid impulsive decisions and review important commitments carefully. Read your weekly predictions for career, money, love, health and education.
Honasa Consumer Q2 Results: Mamaearth parent's profit surges 87% YoY to Rs 73 crore
Honasa Consumer achieved an 86.7% increase in net profit for the September quarter, reaching Rs 73.25 crore. Revenue from operations grew by 35.9% compared to the previous year, amounting to Rs 731.19 crore. Despite sequential profit decline, the company indicated strong performance across various sales channels, including general and modern trade. The flagship brand Mamaearth continued to show robust growth, contributing significantly to overall earnings.
Trusted names, new game: India's FMCG giants reload old guns for changing tastes
India's FMCG companies are expanding into new product categories by leveraging the trust associated with their established brands. Hindustan Unilever has launched Horlicks Protein Powder, targeting consumers seeking protein-rich products. Emami is introducing new products across baby care and specialized scalp care under its existing brands. Marico has entered the shampoo market with Parachute Advansed Protein Shampoo, capitalizing on its hair-care equity.
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Incorrect HRA or deduction claims? How Section 270AA may offer relief from 200% penalty
Incorrect tax claims may expose taxpayers to a 200% penalty for misreporting and prosecution in appropriate cases. Section 270AA offers conditional relief upon prescribed payments. For indefensible claims, this route may be preferable to litigation, subject to eligibility.
Scrap, cut or tweak? Centre weighs options on LTCG, STT to stem foreign investor exodus
The Centre is weighing proposals to scrap or lower long-term capital gains tax and recalibrate securities transaction tax as it seeks to address foreign investor outflows. Market participants have favoured scrapping LTCG on equities and selectively raising STT on options, while regulators are understood to support removing LTCG to attract overseas capital.
Fairness, churn, and India's rise: India has lifted millions out of poverty, but the next big challenge is helping people climb further
India's poverty rate has fallen sharply, with nearly 496 million people moving above the World Bank's lower-middle-income poverty line between 2011-12 and 2023-24. However, the next challenge is to expand economic mobility, improve wages and create opportunities. The article examines why growth, fair access and social mobility matter more than focusing on inequality alone.
Elon Musk gambled $445 million to boost Republicans in midterms and came up short
Nobody may have suffered bigger losses Tuesday than President Donald Trump. But few others had more on the line than Musk, who gambled big and came up holding the midterm's worst return on investment. Democrats in Congress were already queuing to get their shot at Musk, with possible subpoenas and investigations.
Elon Musk gambled $445 million to boost Republicans in midterms and came up short
Elon Musk's hefty USD 445 million investment in Republican candidates did not yield the desired electoral success, as Republicans faced significant losses, ceding control of Congress. This setback has prompted Democrats to contemplate investigating Musk's business operations. Critics have denounced his financial influence in politics, highlighting the risks of affluent individuals shaping policy. Anticipated changes in Texas's Democratic leadership suggest intensified scrutiny of Musk's ties to the state.
Trump’s $5,000 stimulus check promise faces a big question after Democrats take control of the House and Senate: Will Americans still get the tariff-funded payments?
For Americans who were counting on Donald Trump’s promised $5,000 payment, the midterm election result has raised a big question; will the money still arrive? Trump had promised every adult US citizen a $5,000 check if Republicans retained control of both the House and Senate. That condition has now fallen apart. Democrats have won the Senate and are close to securing a House majority.
Warren Buffett’s retirement income strategy: How a 90/10 rule could help a 65-year-old turn $600,000 into monthly income
For a 65-year-old with a traditional IRA of $600,000, adopting Warren Buffett’s 90/10 investment strategy is a practical choice. This approach allows for a balanced monthly withdrawal that integrates Social Security and IRA funds. By allocating 90% to S&P 500 index funds and 10% to Treasury bills, one can ensure withdrawal stability.
Rs 21.6 lakh speculative trading loss in stock market triggers Income Tax notice for no tax audit; Trader wins case at ITAT Cuttack
Mr. Kumar, a diligent stock trader, faced considerable financial setbacks but overlooked the necessity of a tax audit. In response to his failure to comply with audit rules, the Income Tax Department slapped him with a penalty. After an unsuccessful appeal to CIT (A), he sought relief from ITAT Cuttack, which determined that Kumar's trading did not equate to business income needing an audit.
Sebi eases KYC norms for NRIs, OCIs and foreign nationals, allows digital onboarding from overseas
Securities and Exchange Board of India has relaxed Know Your Client requirements for overseas investors. This change enables non-resident Indians, Overseas Citizens of India, and foreign nationals to onboard digitally. Individuals from FATF-compliant countries can now submit KYC details remotely without being in India. Intermediaries are allowed to rely on existing KYC records and conduct video verifications when necessary.
How to check if PAN is linked with Aadhaar? Step-by-step guide to check status online, link documents and know the consequences of not linking
Taxpayers in India must link their Permanent Account Number with Aadhaar to avoid penalties. Individuals can easily check their linking status online through the Income Tax Department's portal. If they need to link PAN with Aadhaar, they must follow specific steps laid out on the website. Those who miss the deadline face a fee of Rs 1,000 for the linking process.
Gold jewellery at home: How much can you keep without fear of Income Tax seizure?
People can legally own gold without a prescribed maximum quantity if they explain its source. The Income Tax Department has guidelines regarding the non-seizure of gold jewelry during searches. Married women can own up to 500 grams, while unmarried women are allowed 250 grams and male members 100 grams. These limits do not automatically exempt individuals from income tax liabilities.
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
Woman seeks Rs 50,000 compensation from Gillette India, alleges women pay up to five times more for razors; consumer commission issues notices to top executives
The District Consumer Disputes Redressal Commission has issued notices to Gillette India Ltd regarding discriminatory pricing practices. Shipra Mathur alleges that women's razors are priced four to five times higher than men's razors. Counsel Inder Mohan Singh states that this constitutes unfair trade practices under the Consumer Protection Act. The complainant seeks directions to prevent such pricing and claims compensation for mental distress.
US midterms 2026: Voters back abortion rights and reject Trump's redistricting in state ballot measures
During the recent midterm elections, abortion-rights supporters marked significant achievements in both Missouri and Virginia, highlighting shifts in voter attitudes. Concurrently, President Donald Trump's redistricting strategies faced backlash in several states. In Florida, an amendment was adopted that offers critical property tax relief to homeowners. Meanwhile, Nebraska solidified transgender medical limitations in its constitution, demonstrating active citizen participation in legislative decisions.
California could become the first state to tax billionaires' wealth
The state of California is deliberating on a proposed one-off 5% tax on the net worth of billionaires via Proposition 40. The initiative encounters significant pushback from wealthy opponents and considerable financial resources aimed at defeating it. Governor Gavin Newsom warns that it might trigger a tax flight among the richest residents.
Trump endorses Vivek Ramaswamy for Ohio governor, calls him 'special'
Donald Trump has endorsed Vivek Ramaswamy in his campaign for governor of Ohio. Trump praised Ramaswamy for being strong, smart, and truly passionate about the country. He criticized Ramaswamy’s opponent, Amy Acton, for her radical positions on various issues. The endorsement highlights Ramaswamy's focus on economic growth, border security, and election integrity. Voters are encouraged to support Ramaswamy to ensure a strong future for Ohio.
Social Security benefits warning: Will retirees lose $500 a month when the retirement trust fund runs out in 2032? What the latest forecast means for your monthly checks
The Social Security retirement fund is projected to exhaust its reserves by the end of 2032 without any legislative intervention. If changes are not made, monthly benefits for retirees might face substantial reductions, estimated between 22% and 26%. This impending decline is attributed to demographic shifts like an increasing elderly population and dwindling birth rates. Lawmakers have a limited timeframe to tackle these pressing issues before retirees experience significant cuts.
$700 million tax bill vs $4.15 million image: The court case that saved Michael Jackson’s heirs
A US Tax Court judge has determined that Michael Jackson's name, image, and likeness are worth $4.15 million. This valuation is considerably lower than the IRS's previous claim of $1.1 billion for the estate. Following a lengthy legal battle, the judge's ruling will significantly reduce the estate tax owed by Jackson’s heirs. The judge noted that Jackson's image has diminished in value over time due to various controversies.
LTCG tax relief for these mutual fund investors proposed by SEBI; know how switching funds for portfolio rebalancing can save tax
The Securities and Exchange Board of India (SEBI) has put forth a proposal to exempt long-term capital gains tax for investors who switch mutual funds. This change if accepted by the government would enable individuals to adjust their portfolios without facing tax penalties, promoting more strategic reinvestment.
Physical gold vs gold ETF: Which can be more tax-efficient for investors?
During Diwali, many choose to invest in gold due to its cultural significance and potential financial returns. It's crucial to grasp the tax implications when deciding between physical gold and gold ETFs. Purchasing physical gold triggers GST and varied capital gains taxes depending on how long it's held. Conversely, gold ETFs offer more favorable conditions for capital gains. Investors need to weigh their goals to make the best choice.
ITC Q2 net profit falls 20% as high taxes keep margins in check
ITC reported a 20% decline in standalone net profit for the September quarter despite a 45% increase in revenue. The rise in cigarette taxation significantly impacted profitability, forcing ITC to absorb part of the price hikes. Non-cigarette businesses showed strong growth, achieving the highest revenue growth in 14 quarters. Factors such as inflation and geopolitical tensions continue to affect the operating environment.
ITC Q2 Results: Profit falls 18% to Rs 4,229 crore, revenue rises 5%
ITC Q2 Results: ITC Ltd reported an 18.5% decline in consolidated net profit for the September quarter on Monday as a sharp fall in earnings from its cigarette business weighed on overall profitability despite strong growth in its FMCG, agriculture and paper businesses.
CBDT tightens merger rules for charity trusts, imposes five-year curbs on changing objectives
The Central Board of Direct Taxes (CBDT) has made it mandatory for organisations merging with another registered non-profit to inform the I-T Department within a prescribed deadline, get their accounts audited and disclose the reasons for the merger. The new rules, notified on October 30, also prevent organisations with regular registration from merging with those holding provisional registration, and vice versa.
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