Search For "tax regime"
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 (
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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
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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.
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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
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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
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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.
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Pakistan government introduces new amends in budget to meet IMF criteria
Updated : 1 year, 11 months ago IST
In an amendment to Finance Bill 2024, which was presented to the National Assembly on June 12, the government reduced the Petroleum Development Levy (PDL) on diesel and petrol from Pakistani Rupees (PKR) 80 to PKR 70 per litre but increased it from the existing PKR 60.
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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....."
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MoF says OECD's rating of Free Zone Corporate Tax regime will enhance UAE'
Updated : 2 years, 3 months ago IST
The UAE Ministry of Finance (MoF) said the latest review by the Organisation for Economic Co-operation and Development (OECD) on preferential tax regimes has officially recognised the United Arab Emirates Free Zone Corporate Tax (CT) regime as 'non-harmful', underscoring the UAE's robust tax
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Dubai Chambers introduces EU Diplomatic Missions to UAE Corporate Tax Law
Updated : 3 years ago IST
The UAE has introduced Federal Corporate Tax on business profits to keep pace with the requirements of a globally competitive market economy. The Corporate Tax regime will be effective for financial years starting on or after 1 June 2023 and will levy a standard rate of 9 per cent, with a 0
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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
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Lok Sabha passes Finance Bill 2023 with 64 amendments; marginal relief pro
Updated : 3 years, 2 months ago IST
Lok Sabha on Friday passed the Finance Bill 2023 with several offiical amendments amid din created by sloganeering by the Opposition parliamentarians who continued with their demand of a Joint Parliamentary Committee probe into the Adani-Hindenburg issue
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