Search For "new tax regime"
NPS suffering under new tax regime, needs tax benefit of Rs 50,000 under 8
Updated : 5 months ago IST
The pension industry has requested the government to restore the additional Rs 50,000 tax benefit for the National Pension System (NPS) under the new tax regime in the upcoming Union Budget as the incentives are critical to widen coverage beyond salaried Indians, Axis Pension Fund CEO and
Read More
Centre introduces bill to impose new cess on pan masala, Gutka for nationa
Updated : 6 months ago IST
After a 'sin tax' on tobacco-related items during the GST rationalisation exercise, Finance Minister Nirmala Sitharaman on Monday introduced 'Healthy Security se National Security Cess Bill, 2025', in the Lok Sabha. The Bill proposed a rigorous new tax regime on pan masala and gutkha manu
Read More
"Aatmanirbharta gave impetus to our economy": Amit Shah launches 'Mhaje Gh
Updated : 8 months ago IST
"Aatmanirbhar Bharat is the biggest initiative, which has given impetus to our economy, promoting Make in India and for people from all over the world to do manufacturing in India (ease of business). This is also resolving the issue of unemployment. No income tax payable for income up to
Read More
Salaried class likely to get some relief from Finance Minister Nirmala Sit
Updated : 1 year, 4 months 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tax structure, with a basic exemption limit of Rs3,00,000 under the new tax regime, has drawn criticism for being outdated in the face of escalating living costs.
Read More
Budget should reduce tax rates, raise personal income tax exemption limit
Updated : 1 year, 4 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 (
Read More
Sitharaman says "numbers speak for themselves" as Indians increasingly opt
Updated : 1 year, 9 months ago IST
In the Budget for 2020-21, the government, in order to provide relief to individual taxpayers and to simplify the income-tax law, had proposed to bring a new and simplified personal income tax regime wherein income tax rates were significantly reduced for those who forgo certain deductions a
Read More
New tax regime offers a clear and straightforward calculation of tax liabi
Updated : 1 year, 10 months ago IST
An increasing number of taxpayers have opted for the New Tax Regime this year. Out of the total ITRs of 7.28 crore filed for AY 2024-25, 5.27 crore have been filed in the New Tax Regime compared to 2.01 crore ITRs filed in the Old Tax Regime.
Read More
51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of t
Updated : 1 year, 10 months ago IST
The total number of ITRs for assessment year 2024-25 filed till July 31, 2024 is more than 7.28 crore, which is 7.5 per cent more than the total ITRs for assessement 2023-24 (6.77 crore) filed, a Ministry of Finance release stated on Friday. Out of the total ITRs of 7.28 crore filed, 5.27
Read More
Budget has given new incentives to taxpayers for filing tax returns under
Updated : 1 year, 10 months ago IST
Under the proposed provisions, if a salaried or a retired taxpayer chooses the new tax regime, he will now get a standard deduction of Rs 75,000 instead of Rs 50,000, which was applicable till last year, on his/her salary or pension income. But for those who opt for the old tax regime the st
Read More
Budget sets in new era of growth and development to make India leading eco
Updated : 1 year, 10 months ago IST
BJP national general secretary Tarun Chugh on Tuesday lauded the annual budget as the beginning of a new chapter in the national economy.
Read More
Ministry of Finance debunks falsehoods: New tax regime clarified, no chang
Updated : 2 years, 2 months ago IST
Ministry of Finance posted, "Ministry of Finance posted on X, "It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that: There is no new change which is coming in from 01.04.2024....."
Read More
Union Budget 2023-24 highlights & complete budget analysis by Rajiv Ra
Updated : 3 years, 1 month ago IST
New Delhi [India], April 7 (ANI/PNN): Union Budget 2023-24 Highlights: Announcing its last full Union Budget 2023 before the 2024 elections, the NDA government focused on a slew of measures that expanded Capital Expenditure spending and tied in various priorities including Green Growth, Yout
Read More