Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 3 weeks ago

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime

Live Mint  

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. "To tax payers upto ₹12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by them," she said. New income tax slabs in the new tax regime Mint As a result of these proposals, the government will forgo revenue of about ₹1 trillion in direct taxes and ₹2,600 crore in indirect taxes, the minister said. “Under the proposed 2025 tax regime, a person earning ₹25 lakh annually will pay ₹3.43 lakh in total tax, compared to ₹4.57 lakh under the 2024 regime.

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‘WhatsApp messages helped uncover ₹200 crore in tax evasion’: Nirmala Sitharaman defends Income Tax Bill
4 hours ago

‘WhatsApp messages helped uncover ₹200 crore in tax evasion’: Nirmala Sitharaman defends Income Tax Bill

Hindustan Times  

Citing WhatsApp messages that helped unearth ₹200 crore in unaccounted money linked to crypto assets, Union finance minister Nirmala Sitharaman on Tuesday defended the provisions of the new Income Tax Bill, 2025. Addressing the Lok Sabha, Nirmala Sitharaman said granting tax authorities access to digital records is crucial for addressing tax evasion and financial fraud. WhatsApp communication helped unearth ₹200 …

Steep cut in tax won’t be rolled back, FM tells LS
5 hours, 49 minutes ago

Steep cut in tax won’t be rolled back, FM tells LS

Hindustan Times  

New Delhi Union finance minister Nirmala Sitharaman assured the Lok Sabha on Tuesday that the steep reduction in personal income-tax for the middle class would not be rolled back in the future, noting that the government has carefully factored in the ₹1 lakh crore outgo while estimating revenue for 2025-26, which includes a 13%-plus projected growth in personal income tax …

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year
5 days, 7 hours ago

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year

India Today  

When it comes to paying taxes, picking the right tax regime can help you save money. COMPARISON OF OLD AND NEW TAX REGIMES Under the old tax regime, taxpayers can claim various deductions to lower their taxable income. Contrastingly, if Mr X opts for the new tax regime, which does not allow the above-mentioned deductions, the entire Rs 50 lakh …

Over 4.68 lakh taxpayers file ITR for income over ₹1 crore till Feb 28, shows latest data
1 week, 1 day ago

Over 4.68 lakh taxpayers file ITR for income over ₹1 crore till Feb 28, shows latest data

Live Mint  

The latest data released by the income tax department shows that over 9.11 crore registered users have filed their income tax returns for FY 2024-25 until Feb 28, 2025. This figure is quite significant given that the total number of registered users stands at 13.96 crore, which means over 65 percent of registered users have filed their income tax returns …

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy
1 week, 2 days ago

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy

Live Law  

The New Income Tax Bill 2025 is regarded as a significant reform intended to streamline tax systems and enhance compliance. This article critically examines how the New Income Tax Bill 2025 jeopardizes fiscal federalism, the growing dependence on non-divisible surcharges and levies, and the potential risks states may soon face with diminishing financial strength and reduced fiscal autonomy. Although the …

New vs old income tax regime: ₹1 crore to ₹5 crore salary — What’s your actual take-home pay?
2 weeks ago

New vs old income tax regime: ₹1 crore to ₹5 crore salary — What’s your actual take-home pay?

Live Mint  

How much of your high salary do you take home? New vs old income tax regime: ₹ 1 crore to ₹ 5 crore salary ₹ 1 crore salary: New vs old regime “Under the new regime, a salary of ₹1 crore will result in an in-hand salary of ₹70,74,220. As the salary increases, the average tax rate in both regimes …

Govt seeks House nod for extra spending of ₹51,400 crore in FY25, mainly for subsidies
2 weeks, 1 day ago

Govt seeks House nod for extra spending of ₹51,400 crore in FY25, mainly for subsidies

Live Mint  

New Delhi: Finance minister Nirmala Sitharaman on Monday sought Parliament’s approval for a net additional spending of ₹51,463 crore in FY25 to meet funding requirements of mainly fertilizer, food and cooking gas subsidy and defence pension. The government also sought House approval for an extra ₹6.27 trillion spending, mainly for repayment of debt, which does not involve additional cash outgo …

India’s April-Jan fiscal deficit hits ₹11.7 lakh crore, widens to 74.5% of revised FY25 target
Top News
3 weeks, 4 days ago

India’s April-Jan fiscal deficit hits ₹11.7 lakh crore, widens to 74.5% of revised FY25 target

Live Mint  

The Centre's fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts on Friday. The CGA data showed that the central government's tax revenue was ₹19.03 lakh crore, or 74.4 per cent of the RE of 2024-25. The total expenditure was at ₹35.7 lakh …

New Tax Regime: Income up to Rs 13.7 lakh can be tax-free. Here's how
1 month ago

New Tax Regime: Income up to Rs 13.7 lakh can be tax-free. Here's how

India Today  

Finance Minister Nirmala Sitharaman’s Budget 2025 announcement has brought some relief for salaried individuals, with the tax-free income limit now raised to Rs 12 lakh. The benefit of the Rs 75,000 standard deduction under the new tax regime effectively bumps this up to Rs 12.75 lakh. But there’s a way to push it even further to Rs 13.7 lakh by …

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime
1 month ago

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime

India Today  

Perhaps, the biggest Budget 2025 announcement by the Finance Minister Nirmala Sitharaman was that individuals with salaries up to Rs 12 lakh will pay zero taxes under the new tax regime. However, with Rs 75,000 as the standard deduction under the new regime, individuals earning up Rs 12.75 lakh annually need not pay any taxes. The Finance Minister in her …

Surprising tax hack: Earn ₹14.65 lakh and pay zero income tax in 2025-26
1 month ago

Surprising tax hack: Earn ₹14.65 lakh and pay zero income tax in 2025-26

Live Mint  

Income tax slabs 2025-26: You are in the ₹12 lakh bracket and dreaming of a salary appraisal. Under the new income tax regime for 2025-26, you can pay zero income tax even with a ₹14.65 lakh salary. Under the new income tax regime, you must utilise deductions strategically to achieve a zero tax liability with a ₹14.65 lakh salary. Abhishek …

Income Tax: You can continue to avail THESE deductions in the new tax regime
1 month, 1 week ago

Income Tax: You can continue to avail THESE deductions in the new tax regime

Live Mint  

With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. However, in the new tax regime, taxpayers can claim deductions only under a few situations which we have …

New Income Tax: While Australia took 3 years and UK even longer, how did tax reforms in India happen in 6 months?
Trending News
1 month, 1 week ago

New Income Tax: While Australia took 3 years and UK even longer, how did tax reforms in India happen in 6 months?

Live Mint  

India's income tax law has recently undergone a major reform with a new Bill having been introduced in the Lok Sabha on Thursday and proposed to be reviewed by the select committee. The new Income Tax Bill aims to make the tax legislation simpler, concise and easy to read, so that there is less litigation arising out of complex provisions. …

New income tax bill: Why was there a need for a new legislation?
1 month, 1 week ago

New income tax bill: Why was there a need for a new legislation?

Live Mint  

The Income-Tax Bill 2025 was introduced in Lok Sabha on 13 February to replace the existing Act. Mint explains why the Income Tax Act needed an overhaul and why the amended bill is unlikely to upset taxpayers. Two attempts were made in the past to rewrite the tax law—in 2009 after a committee presented a draft direct taxes code together …

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’
1 month, 1 week ago

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’

Live Mint  

Aam Aadmi Party MP Raghav Chadha on Friday said Union Finance Minister Nirmala Sitharaman tried to complicate his words at the Rajya Sabha the day before regarding his explanation on the income tax rebate announced in Budget 2025. “Yesterday the Union Finance Minister Nirmala Sitharaman in the Rajya Sabha said I tried to mislead the house. He explained that one …

India’s new income tax bill: It’s more concise and makes for a friendly tax law
1 month, 1 week ago

India’s new income tax bill: It’s more concise and makes for a friendly tax law

Live Mint  

The Income Tax Bill 2025 marks a significant step towards modernizing India’s tax framework, aiming to simplify compliance and enhance efficiency. By streamlining tax provisions, reducing redundancies, and introducing clearer legislative language, the Bill seeks to address long-standing complexities in the tax law. Tax simplifications and rationalization: The Bill introduces several key changes aimed at easing tax compliances and reducing …

India’s Income Tax Bill sets the stage for significant reforms
1 month, 1 week ago

India’s Income Tax Bill sets the stage for significant reforms

Live Mint  

The Income Tax Act of 1961 has undergone innumerable amendments since its inception. We have an outdated Income Tax Act, burdened with obsolete provisions and a cumbersome structure, especially in the context of economic liberalization, which reduced the government’s role in the economy. Given that the Centre has undertaken major reforms in recent years—introducing a new Companies Act, overhauling civil …

New Income Tax bill explained: What's changing and what's not
1 month, 1 week ago

New Income Tax bill explained: What's changing and what's not

India Today  

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in Lok Sabha on Thursday. The bill aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. The new bill also includes repeals and savings clauses to ensure that the rights and benefits accrued to taxpayers under the old law are protected.” …

Watch | Explained: What’s in the new Income Tax Bill?
1 month, 1 week ago

Watch | Explained: What’s in the new Income Tax Bill?

The Hindu  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This new legislation, which seeks to simplify and modernise India’s tax system, would replace the six-decade-old Income Tax Act, 1961, when it is passed by the Parliament and when the President gives her assent. The new Income Tax Bill consists of 536 …

New Income Tax Bill: Simpler, lighter and future-ready
1 month, 1 week ago

New Income Tax Bill: Simpler, lighter and future-ready

Live Mint  

The long-awaited bill for the new tax code was tabled in Parliament on Thursday. The bill fulfills the finance minister's commitment to provide an income tax law that is straightforward for both taxpayers and tax administrators, aiming to establish tax certainty and reduce litigation. As promised, on the first flush, the new income tax bill is direct in text, replacing …

New Income Tax Bill 2025 PDF: Here's Quick Access To Official Link, Top Highlights For You
1 month, 1 week ago

New Income Tax Bill 2025 PDF: Here's Quick Access To Official Link, Top Highlights For You

ABP News  

New Income Tax Bill: The much-anticipated Income Tax Bill, 2025, was introduced in Parliament today, marking a major effort to streamline the language and structure of the existing Income-tax Act, 1961. New Income Tax Bill PDF Download LINK For keen researchers, the Income Tax Bill, 2025, is available for the public on the official sansad.in website. Here's how you can …

New Income Tax Bill 2025: Higher Exemptions, Simpler Rules, Easier Tax Filing – Here’s What Changes For You
1 month, 1 week ago

New Income Tax Bill 2025: Higher Exemptions, Simpler Rules, Easier Tax Filing – Here’s What Changes For You

ABP News  

New Income Tax Bill: Finance Minister Nirmala Sitharaman introduced the much-anticipated Income Tax Bill 2025 in the Lok Sabha on February 13. Key Changes Introduced Introduction of ‘Tax Year’ : The bill replaces technical terms like ‘assessment year’ and ‘previous year’ with the simpler ‘tax year,’ making it easier for taxpayers to understand. : The bill replaces technical terms like …

New Income Tax Bill introduced in Parliament: Read the key changes in the direct tax law
1 month, 1 week ago

New Income Tax Bill introduced in Parliament: Read the key changes in the direct tax law

Op India  

The Income Tax Bill 2025 was presented in the Lok Sabha by the Union Finance Minister Nirmala Sitharaman today. Key Features of the Bill The existing Income Tax Act has 23 chapters containing 536 sections and 16 schedules in 880 pages. The new Bill has done away with this distinction and introduces a single ‘Tax Year’ which will coincide with …

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre
1 month, 1 week ago

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre

Hindustan Times  

Finance Minister Nirmala Sitharaman tabled the Income Tax Bill 2025 in the Lok Sabha on February 13. Finance Minister Nirmala Sitharaman had announced a comprehensive review of Income Tax Act 1961 on July 23, 2024 and had set a time limit of six months for the same. The bill and act in numbers The Income Tax Act 1961 had 5.12 …

New Income Tax Bill introduced by Nirmala Sitharaman in Parliament, Opposition stages walkout
1 month, 1 week ago

New Income Tax Bill introduced by Nirmala Sitharaman in Parliament, Opposition stages walkout

Hindustan Times  

Finance Minister Nirmala Sitharaman has tabled the Income Tax Bill 2025 in the Lok Sabha. Finance Minister Nirmala Sitharaman tabled the Income Tax Bill in the Lok Sabha on Thursday. Opposition raises objections Speaking on objection raised by Opposition MP from Kerala's Kollam, NK Premachandran, on the new bill having more sections than the previous Income Tax Act from 1961, …

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament
Trending News
1 month, 1 week ago

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament

Firstpost  

The new Income Tax Bill is intended to simplify the direct taxation regime in India and replace the Income Tax Act of 1961 Union Finance Minister Nirmala Sitharaman on Thursday tabled the new Income Tax Bill in the parliament. The new Income Tax bill is meant to simplify the direct taxation regime and replace the Income Tax Act of 1961. …

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know
1 month, 1 week ago

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know

Live Mint  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday, 13 February. New Income Tax Bill 2025 tabled in Parliament. “Based on my cursory reading of the new income tax bill, I feel it is merely a good job of editing the existing Income Tax Act. 8) Taxes for cryptocurrency In Clauses 67 to …

Finance Minister Nirmala Sitharaman Tables New Income Tax Bill In Lok Sabha
1 month, 1 week ago

Finance Minister Nirmala Sitharaman Tables New Income Tax Bill In Lok Sabha

ABP News  

Finance Minister Nirmala Sitharaman presented the new Income Tax Bill In Lok Sabha on Thursday, which will replace the Income Tax Act, 1961. The new Income Tax Bill aims to simplify and modernise India's tax system. The existing Income Tax Act consists of 298 sections across 23 chapters, covering personal income tax, corporate taxes, securities transaction tax, and gift tax. …

New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha
1 month, 1 week ago

New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha

Live Mint  

Income Tax Bill 2025: Finance Minister Nirmala Sitharaman tabled the new direct tax code or the Income Tax Bill 2025 in Lok Sabha on Thursday. Finance Minister Nirmala Sitharaman asked Lok Sabha Speaker to form review committee for the the newly tabled Income Tax Bill 2025. Naveen Wadhwa, Vice President, Taxmann, said, “The Income Tax Bill tabled in Parliament will …

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’
1 month, 1 week ago

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged
1 month, 1 week ago

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged

Live Law  

The new Income Tax bill is set to introduce the concept of 'Tax Year'. For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April. Amortisation of certain preliminary expenses: As per the existing Income Tax Act, 1961, Section 35D states that where an assessee, being an Indian company …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 1 week ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

New Income Tax Bill 2025: What are expected changes and how will they affect you?
1 month, 1 week ago

New Income Tax Bill 2025: What are expected changes and how will they affect you?

Hindustan Times  

The central government may table the new Income Tax Bill 2025 in Parliament on February 13. The bill proposes to replace the term ‘Financial Year’ with the term ‘Tax Year’ and do away with the term ‘Previous Year’. The term ‘Tax Year’ then will represent the 12-month period starting from April 1, aligning it with the financial year framework. The …

Only empty promises, no specific roadmap, says Opposition on Union Budget
1 month, 2 weeks ago

Only empty promises, no specific roadmap, says Opposition on Union Budget

The Hindu  

Continuing the debate on the Union Budget in Parliament, MPs from the Opposition said the government had failed to resurrect India’s manufacturing sector, had given inadequate allocation for health and education, and lacked a roadmap to deal with the challenge of artificial intelligence. All that the Finance Minister said was that we are going to set up 100 centres of …

Net direct tax kitty swells 15% to ₹17.78 lakh crore till Feb 10
1 month, 2 weeks ago

Net direct tax kitty swells 15% to ₹17.78 lakh crore till Feb 10

The Hindu  

Net direct tax collection grew 14.69% to over ₹17.78 lakh crore so far this fiscal, government data showed on Tuesday, February 11, 2025. As per the data released by the Central Board of Direct Taxes, mop up from net non-corporate taxes, which include mainly personal income tax, grew 21% year-on-year to about ₹9.48 lakh crore. Gross direct tax mop up …

Oppn slams govt over ‘cruel cuts’ in Budget
1 month, 2 weeks ago

Oppn slams govt over ‘cruel cuts’ in Budget

Hindustan Times  

New Delhi: Senior Congress leader and former finance minister P Chidambaram on Monday slammed the government’s handling of the economy, tore into the 2025-26 Union Budget for “cruel cuts”, and asked why the government has not conferred the Bharat Ratna — the country’s highest civilian honour — upon former prime minister Manmohan Singh for his contribution to the country. Former …

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts
1 month, 2 weeks ago

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts

The Hindu  

BJP returns to power in Delhi after 26 years The BJP on Saturday returned to power in Delhi after more than 26 years to sweep away the Arvind Kejriwal-led Aam Aadmi Party with a two-thirds majority on the back of a hyper localised campaign. Union Budget: No income tax up to ₹12 lakh, tax slabs revised Finance Minister Nirmala Sitharaman …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 2 weeks ago

New income tax regime: Check revised tax rates, slabs, and will you benefit?

India Today  

The new income tax regime is set to become the preferred option for the majority of taxpayers in the upcoming financial year, following the proposals in the Union Budget 2025. In fact, salaried individuals with an annual income of Rs 12.75 lakh won't have to pay any tax, given the standard deduction of Rs 75,000 under the new regime. High-income …

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today
1 month, 2 weeks ago

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today

India Today  

Finance Minister Nirmala Sitharaman is likely to table the new Income Tax Bill, aimed to reform the country's taxation system, in the Lok Sabha on Monday, sources told India Today TV. The bill, which got the approval of the Union Cabinet on Friday, will replace the six-decade-old Income Tax Act, and will be sent to the Standing Committee for detailed …

The government is banking on tax cuts to boost consumption. What if it doesn’t pan out?
1 month, 2 weeks ago

The government is banking on tax cuts to boost consumption. What if it doesn’t pan out?

Live Mint  

New Delhi: When finance minister Nirmala Sitharaman announced tax cuts and sops for taxpayers in her latest budget, she said: “Slabs and rates are being changed across the board to benefit all tax-payers. Assuming that this share of top income earners in the GDP remains relatively stable for financial years 2023-24 and 2024-25, and using the GDP projections in the …

Boost in consumption is necessary, but 'Sabka Vikas' should not be lost
1 month, 2 weeks ago

Boost in consumption is necessary, but 'Sabka Vikas' should not be lost

Firstpost  

While India seeks to counter global headwinds and uncertainties that can mar its economic growth, it should ensure the boost in demands must not result in high inflation or the burden be placed on indirect taxes, as high income divide is an undeniable reality of the Indian economy If we can achieve GDP growth of 6.7 per cent for FY26 …

The income tax gambit to ramp up India’s growth
1 month, 2 weeks ago

The income tax gambit to ramp up India’s growth

Live Mint  

The new income tax bill must align with global best practices to attract foreign investment, support domestic businesses, and benefit individual taxpayers, experts said as India’s tax regime prepared for a major overhaul. “We are certain the new Act will align with global standards and India’s economic commitments.” Sudhakar Sethuraman, partner at Deloitte India, agreed that adopting global best practices …

New regime narrows LTCG-regular income tax gap. Are equities still worth it?
1 month, 2 weeks ago

New regime narrows LTCG-regular income tax gap. Are equities still worth it?

Live Mint  

MUMBAI : The new slab rates and exemption threshold introduced in the Union Budget 2025-26 under the new tax regime marked the beginning of a new chapter for the Indian middle-class taxpayer. Historically, investors often chose equity investments like arbitrage funds and hybrid funds like balanced advantage funds for their preferential tax treatment compared to regular income. View Full Image …

Tax Monthly Digest: January 2025
1 month, 2 weeks ago

Tax Monthly Digest: January 2025

Live Law  

SUPREME COURT Motor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme Court Case name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand. A division bench of Justices Yashwant Varma and Dharmesh Sharma ruled, “The Commissioner, while seeking to review an order passed under the Act and in purported …

Income Tax Bill to make rules simpler, easy to read
1 month, 2 weeks ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill
1 month, 2 weeks ago

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill

Live Mint  

Finance Minister Nirmala Sitharaman said on Saturday, February 8, 2025 that fiscal and monetary measures announced by the government and the central bank recently will help boost consumption and promote private investment. 'Tax relief, interest rate cut to boost consumption' As a result of tax relief proposals, the government will forego revenue of ₹1 lakh crore in direct taxes and …

Finance Minister Nirmala Sitharaman says income tax and RBI rate cut will boost economy: Report
1 month, 2 weeks ago

Finance Minister Nirmala Sitharaman says income tax and RBI rate cut will boost economy: Report

Hindustan Times  

The income tax relief which the Budget 2025 provided, coupled with the Reserve Bank of India's repo rate cut will boost recovery in consumption in the economy, a report by news agency ANI quoted Finance Minister Nirmala Sitharaman as saying. Union Finance Minister Nirmala Sitharaman during an interview with PTI, in New Delhi, Sunday, Feb. 2, 2025. Besides this, the …

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman
1 month, 2 weeks ago

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week. “Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. “I still have three critical …

How Modi’s Union budget played a key role in BJP’s victory in Delhi assembly elections
1 month, 2 weeks ago

How Modi’s Union budget played a key role in BJP’s victory in Delhi assembly elections

Live Mint  

The BJP's return to Delhi after 27 years, one of their strongest showings ever in the national capital, has been boosted in no small way by last week's Union budget, which slashed income tax for the salaried middle class, a key voting bloc in the capital. Almost 30 years later, the same middle class has swung them back to power,” …

New Income Tax Bill likely to be introduced in Lok Sabha next week
1 month, 2 weeks ago

New Income Tax Bill likely to be introduced in Lok Sabha next week

India TV News  

New Income Tax Bill: Finance Minister Nirmala Sitharaman on Saturday said that she may introduce the new Income Tax Bill in the Lok Sabha next week. "Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. "I still have three critical stages to pass through," Sitharaman said …

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