Why Delaying Income Tax Return Filing Until 15 June Might Be Wiser Introduction: The income tax return (ITR) filing for the financial year 2023-24 (current assessment year) was opened in the first week of April. Although this is earlier than usual, there are compelling reasons to delay filing until 15 June. Reasons to delay ITR filing until 15 June TDS Reporting Exercise by Banks Finishes by 31 May: Banks and other entities report the tax […]

How to Minimize Tax Liability and Maximize Investment Returns: Easy Tax Management Rules for Retail Investors Introduction: Over the past decade, India’s equity markets have seen remarkable growth, attracting participation from retail investors. However, income from investments such as dividends, long-term capital gains, and short-term capital gains attracts taxes that can reduce their total returns. In this article, we present easy tax management rules for retail investors to help them minimize their tax obligations and […]

India’s Direct Tax Performance in 2023-24 India’s recent fiscal performance has exceeded expectations, particularly in the realm of direct tax collections. Data released recently showcased a significant uptick in net direct tax collections for the fiscal year 2023-24, reaching ₹19.58 trillion, marking a notable 17.7% increase from the previous year.   Key Highlights of the Direct Tax Collections Breakdown: Net corporate tax collections surged by 10.3%. Net income tax collections witnessed a substantial growth of […]

Mint Explainer: Uncovering the Risks of Unauthorized Forex Trading Platforms Introduction: The RBI Governor Shaktikanta Das recently expressed concerns about unauthorized forex trading platforms used by corporates and traders to mitigate foreign currency risks. These platforms, resembling casino games, make enticing promises of high returns. As a result, the RBI has urged banks to remain vigilant and identify the 75 unauthorized entities involved in forex transactions. In this Mint explainer, we delve into the reasons […]

IT Jobs FY24 Review: Headcount Declines, Attrition Rates Improve for TCS, Infosys, and Wipro Introduction Leading Indian information technology (IT) companies Tata Consultancy Services (TCS), Infosys, and Wipro have recently released their Q4FY24 results, revealing a decline in their total employee headcount for the entire fiscal year. This decrease is attributed to the challenging macro environment, weak global demand, and reduced discretionary spending. Additionally, all three companies reported a sequential decline in attrition rates. TCS: […]