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2 mins read
CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated
Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…
PTI
1 min read
First draft of new and simplified Income Tax law to be prepared by internal tax dept committee: Revenue Secretary
The exercise is not linked to bringing a new direct taxes code, but a comprehensive review of the i…
PTI
6 mins read
Budget 2024-25: New tax regime sweetened by FM, hikes standard deduction to Rs 75,000
More than two-thirds of taxpayers have availed of the new Income Tax regime, as per Nirmala Sithar…
1 min read
About 6 cr ITRs filed for FY24; 70% under new tax regime
Addressing the post-budget session of PHD Chamber of Commerce and Industry, Malhotra said there wer…
PTI
3 mins read
Elon Musk took the stage at a Trump rally to talk about taxes and the 'Department of Government Efficiency'
Musk did not elaborate on policy changes or spending cuts he would implement if he were to join a h…
Katherine Tangalakis-Lippert
2 mins read
New Vivad Se Vishwas 2.0 tax resolution scheme to start on Oct 1 — what you need to know
The government has set October 1, 2024, as the launch date for Vivad Se Vishwas 2.0 to address dire…
2 mins read
Did you know about the only Indian state exempt from paying any income tax? Know all about it here
Sikkim has its income tax manual, which stipulates that no resident of Sikkim was to pay taxes to…
6 mins read
Union Budget 2024: A handy FAQ guide to decode the upcoming budget
Weeks before the budget presentation, the finance minister also meets representatives from vario…
3 mins read
Economic Survey 2023-24: Where does India stand on the employment, and what's next?
While the agriculture sector has grown at about 4.18% at constant prices over the last 5 years, Ind…
3 mins read
Modi 3.0 1st Budget: Tax relief for middle class, Rs 2 lakh cr job scheme
With rural distress and unemployment being blamed for BJP losing its majority, Sitharaman in her se…
PTI
4 mins read
All you need to know about the new tax regime
The new tax regime was introduced in Budget 2020 as a means to simplify tax calculations and offer …
3 mins read
Budget 2024: Increase standard deduction, exemptions and more, an aam aadmi's wishlist
Note that unless you specifically opt for the old regime, the new tax regime is considered as your …
1 min read
Govt may relax 45-day payment rule for MSMEs in Budget 2024
According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a la…
PTI
2 mins read
Budget 2024: Here's how your mutual fund investments are set to change post-budget
The budget has changed the definition of a specified mutual funds. From now on, any fund which inve…
2 mins read
Majority of taxpayers to have substantial tax savings due to reduction of long term capital gains on real estate: IT Dept
The Budget has reduced tax rates on capital gains earned from sale of house properties held for lon…
PTI
5 mins read
Budget 2024: How will long-term capital tax change your real-estate investments post-budget?
There has been a marginal increase in the basic tax exemption limit for LTCG. Previously, LTCG of u…
4 mins read
Budget 2024: Three things the insurance sector want from FM Sitharaman this budget.
At present, individuals aged below 60 can claim an annual deduction of up to Rs 25,000 towards heal…
4 mins read
Union Budget 2024-25 key highlights: Angel tax to be scraped
You can watch the presentation live on the official Youtube channels of the government. After her s…
1 min read
After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters
As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…
PTI
3 mins read
Confused about the new tax regime? Here's when you should opt for it
The new regime was introduced in budget 2020 to simplify taxation, and offer lower rates of taxes c…