Search For "basic exemption limit"
Salaried class likely to get some relief from Finance Minister Nirmala Sit
Updated : 1 year, 1 month ago IST
The current tax structure, with a basic exemption limit of Rs3,00,000 under the new tax regime, has drawn criticism for being outdated in the face of escalating living costs.
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Budget should reduce tax rates, raise personal income tax exemption limit
Updated : 1 year, 2 months ago IST
The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (
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Income Tax Return filing: Consequences of missing July 31 deadline
Updated : 3 years, 7 months ago IST
New Delhi [India], July 29 (ANI): The due date for income tax return (ITR) filing for the financial year 2021-22 or assessment year 2022-23 is July 31, 2022. If you have already filed the return or manage to file it before the due date, it's well and good. But, what happens if you fail to fi
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Union Budget 2022-23: Expectations on changes in income tax slabs and rate
Updated : 4 years, 1 month ago IST
New Delhi [India], January 30 (ANI): One of the most keenly awaited announcements in the union budget every year is related to personal taxation. In every budget income tax rates and slabs are reviewed. However, the income tax slabs have not been changed since 2014. Will Finance Minister Nir
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