A mundane wishlist for Modi 3.0

5 days, 12 hours ago

Net direct tax collections rise 16.5%

With a little over three months left in 2024-25, India’s net direct tax collections were up 16.5%, crossing ₹15.82 lakh crore by December 17, with non-corporate taxes leading the growth. Data shared by the Central Board of Direct Taxes on Wednesday showed that gross tax receipts had grown 20.3% so far this year to cross ₹19.21 lakh crore, with corporate …

Tax Taxes Corporate Taxes Crore Lakh Pit Receipts

1 week, 4 days ago

Income tax: Refunds surge 46.31% to ₹3.08 lakh cr; 1.62 crore ITR filings processed in a day, says Finance Ministry

Live Mint

The Ministry of Finance on Thursday, December 12, announced that the issuance of tax refunds had increased 46.31 per cent during the period of April 1 to November 27 in the financial year 2024-25, compared to the same period in 2023-24, reported the news agency ANI. At its peak, the income tax return portal handled over 900 filings in a …

Tax Refunds Income Tax Tax Refunds Ministry Itr Tin

1 month ago

Income Tax Act overhaul likely in Budget

New Indian Express

NEW DELHI: In a major move anticipated during her budget speech on February 1, Finance Minister Nirmala Sitharaman is expected to announce a comprehensive review of the Income Tax Act. Sources indicate that this review aims to simplify the existing tax framework, which currently comprises a staggering 71 TDS sections. Announcing the last budget this year, she said, “I am …

Tax Budget Income Tax Act Tds

1 month ago

Relief to middle class? Inflation offsets hike in tax exemption limit

New Indian Express

NEW DELHI: The government recently claimed that Income tax burden on the common man has come down in the last 10 years, thanks to the Narendra Modi-led government’s various measures. It claimed that taxpayers in the Rs 2.5-7 lakh tax bracket who paid on an average Rs 25,000 in FY14 are now paying zero tax. Fast forward to FY 2024-25, …

Tax

1 month, 1 week ago

Top events today: PM Modi’s Odisha, Bihar visit, Dev Deepavali in Kashi, ITR filing deadline and more

Live Mint

Top events today: Today, i.e on November 15, several events are set to take place. In addition to this, PM Modi is also expected to visit Odisha to mark the birth anniversary of tribal leader Birsa Munda and will also be visiting Bihar's Jamui. PM Modi to inaugurate first Bodoland Mahotsov in Delhi on November 15 Prime Minister Narendra Modi …

Bihar Today Modi Pm Modi Narendra Modi Kashi Top Events

1 month, 1 week ago

Income Tax Returns data shows that 5 times more people are earning over 50 lakhs per year since PM Modi came to power, pay over 75% of taxes

Op India

Over the course of last ten years, the number of income tax filers has increased by an astounding 120%, as per media reports. The data from income tax return filings shows that the number of people with yearly incomes over Rs 50 lakh surged five-fold from 1.85 lakh in 2013–14, to over 9.39 lakh in 2023–24. Furthermore, from Rs 2.52 …

Tax Income Tax Income Crore Modi Lakh Itr

1 month, 1 week ago

Can you expect major income tax changes in Budget 2025? Check details

India Today

The Union Budget 2025-26 is set to usher in a new era of tax simplification in India, with the Finance Ministry working on comprehensive reforms to streamline the income tax system. The proposed reforms focus on three key areas: simplifying tax structures, expanding the tax base, and balancing revenue generation with taxpayer relief. SIMPLER TAX FILING Building on the success …

India Tax Reforms

Major income tax reforms in pipeline, Budget 2025 to ease filing process: Sources

India Today

February 2025 is poised to usher in a new era of tax simplicity in India, as the upcoming Union Budget 2025-26 aims to reform the Income Tax Act, making tax filing easier for citizens, according to sources. Sources in the Finance Ministry told India Today TV that a series of major reforms to the income tax system are in the …

Finance India Tax Compliance Income Ministry Businesses

1 month, 1 week ago

India is investing more in mutual fund SIPs, and paying more tax too

Firstpost

With individual wealth creation through investments aligning with strengthened government revenues, India appears resilient in the face of global uncertainties Investments in mutual funds,a s well as tax collection in India have gone up. New records for SIPs In October 2024, investments through monthly systematic investment plans into mutual funds surpassed Rs 25,000 crore for the first time and reached …

India Tax Mutual Funds Crore Collection

1 month, 1 week ago

IEPFA’s digital revamp targets faster claim approval

Live Mint

New Delhi: Getting refund of shares, unclaimed dividends, matured deposits and debentures is likely to get easier for investors and their heirs with the Investor Education and Protection Fund Authority that manages these assets set to complete its digital transformation over the next few months. The infusion of technology will help IEPF meet its target of clearing refund claims within …

Gandhi Dividend Investors Unclaimed Dividends Unclaimed Dividends Iepfa

1 month, 3 weeks ago

PM Modi Warns Against Digital Arrests: 'Stop, Think, and Take Action'

Deccan Chronicle

Prime Minister Narendra Modi addresses the issue of digital arrests during his monthly radio show, 'Mann Ki Baat,' and outlines necessary precautions to protect citizens from such scams. He emphasizes public awareness, urging citizens to adopt the mantra of 'stop, think, and take action' when confronted with suspicious calls. Modi also highlights the success of Indian animated series, calling for …

Entertainment Law Crime National Security New Delhi

3 months ago

What has Modi 3.0 done in first 100 days? Amit Shah releases report card

Hindustan Times

Union home minister Amit Shah and Union minister of railways Ashwini Vaishnaw on Tuesday released a special booklet on achievements of first 100 days of the government during Prime Minister Narendra Modi's third term. Prime Minister Narendra Modi with defence minister Rajnath Singh, Union home minister Amit Shah and Union minister and BJP national president JP Nadda in New Delhi. …

India Shah Bjp Crore Minister Modi Pm Modi

3 months, 1 week ago

‘One nation, one election’ plan on agenda for current term of NDA

Hindustan Times

The National Democratic Alliance government at the Centre will roll out “One Nation, One Election”, or simultaneous polls to state assemblies and the Lok Sabha, during its current term, a senior Bharatiya Janata Party functionary said on Sunday, dismissing speculations that the ruling party was under pressure from its allies to revisit policy matters. In his Independence Day speech last …

Election Term Bjp Centre Polls Lakh Nation

4 months, 1 week ago

UIDAI income exempted from I-T for five years

Deccan Chronicle

New Delhi: The finance ministry has exempted the income of Unique Identification Authority of India from payment of income tax for five years till fiscal 2027-28. The UIDAI is a statutory authority established under the provisions of the Aadhaar Act, 2016, to ensure compliance with Aadhaar Act, and make regulations & rules consistent with the Act. Accordingly, grants/subsidies received from …

Uidai Income Shall

4 months, 3 weeks ago

Last-minute ITR filers face glitches galore on income tax portal: ‘Infosys got ₹4,200 crore for this?’

Hindustan Times

As the deadline for filing income tax returns ends on Wednesday, July 31, many last-minute filers encountered technical glitches on the income tax portal. Many taxpayers tagged software giant Infosys that has developed the income tax portal. I respectfully request that you initiate portal improvements starting tomorrow and ensure a seamless and efficient experience for taxpayers in the next year,” …

Tax Income Itr Infosys Income Tax Portal Portal Glitches

4 months, 4 weeks ago

Budget 2024: The government’s focus is on ease of paying taxes

The Hindu

While providing primacy to growth with inclusion, the Budget attempts to infuse a new momentum to the economy and strengthen India’s resilient ecosystem so that the country emerges as a growth engine of the world. The proposals to expand the scope of safe harbour rules, streamline transfer pricing assessment procedure, and reduce the corporate tax rate on foreign companies from …

India Tax Budget Tds Ease Cii

4 months, 4 weeks ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

Tax Income Lakh Regime Read Nirmala Sitharaman Union Budget

5 months ago

Budget 2024 creates a template for reforms in Modi 3.0

Firstpost

This year’s Budget stands out for its balanced approach, focusing on fiscal discipline, capital expenditure, regulatory simplification, job creation, and next-generation reforms, aiming to stimulate high growth and employment Budgets have long been spectacles of grand announcements and symbolic gestures. Additionally, the budget aims to enhance women’s workforce participation through infrastructure support and specialised skilling programmes, and to upgrade 1,000 …

Employment Tax Reforms Capital Job Creation Lakh Nda

5 months ago

The rationale for the tax proposals

The Hindu

The 2024-25 Budget is not just an account of receipts and expenditures for the financial year; it also sets the stage for several years in terms of expectations. Budget 2024 |Middle class discontented, real estate sector applauds tax reforms Regarding the general proposals, two sets pique interest — first, those relating to capital markets and second, those relating to the …

Finance India Tax Budget Capital Markets Income Capital

5 months ago

First NDA 3.0 Budget Gets On The 'Job' with Employment Push, Gives Key Allies Their 'Money's Worth'

News 18

The first budget of the Narendra Modi-led NDA government 3.0 presented on Tuesday raised spending to generate more jobs and spur economic growth while looking to soothe key coalition partners following a wake-up call from voters in the April-June Lok Sabha elections. Annual income up to Rs 3 lakh will now attract zero tax, while income in the Rs 3 …

Employment Tax Budget Income Crore Minister Cent

5 months ago

Watch: Budget 2024 | What’s in it for markets and investors?

The Hindu

On July 23, the Finance Minister Nirmala Sitharaman presented the first full budget of the 3rd term of the NDA government. For deepening tax base the Finance Minister has proposed to increase Securities Transaction Tax on Futures and Options contracts to 0.2% and 0.1%, respectively. As per the budget proposals now unlisted bonds and debentures, debt mutual funds and market-linked …

Finance Tax Capital Gains

5 months ago

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

The Hindu

Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding tax rates other than increasing the standard deductions. The two measures combined, she stated, would provide relief to “about four crore salaried individuals and pensioners.” More under new regime According to Deepashree Shetty, Partner …

Finance Tax Income Lakh Regime Individuals Stand

5 months ago

Nirmala Sitharaman Announces Major Tax Reforms and Economic Measures in 7th Consecutive Union Budget

ABP News

Finance Minister Nirmala Sitharaman unveiled the seventh consecutive Union Budget today, marking the first budget of the newly formed Narendra Modi-led NDA government's third term. In her address, she introduced notable changes to the income tax system aimed at providing relief to salaried individuals and pensioners, as well as supporting the start-up ecosystem. Additionally, the Basic Customs Duty on mobile …

Consecutive Union Major Tax

5 months ago

Budget 2024 Capital Gains taxation: Corporate tax for foreign companies slashed to 35%, charities, cruise operations taxation revised

The Hindu

Simplifying the tax regime for corporate industries, Union Finance Nirmala Sitharaman on Tuesday, proposed new tax structures for charities, foreign shipping companies, rationalisation of capital gains in her 2024 Budget speech. Ms. Sitharaman’s speech lasted just shy of ninety minutes “58% of corporate tax came from the simplified tax regime in 2022-23 and more than 2/3rd of taxpayers have used …

India Corporate Tax Capital Capital Gains Term Foreign Sitharaman

5 months ago

Afternoon briefing: New tax regime slabs revised in Budget 2024; IIT Delhi's submission to SC in NEET row; and more

Hindustan Times

Finance minister Nirmala Sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman carrying the Budget tablet More news on Union Budget 2024-25 Budget: Sitharaman announces financial aid for student loans up to ₹ 10 lakh A panel of experts from Indian …

Indian Iit Pti Nirmala Sitharaman Dravid Iit Delhi Mallika

5 months ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

Structure Tax Income Tax Income Lakh Regime Proposed

5 months ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

Finance Tax Income Tax Income Lakh Regime Sitharaman

5 months ago

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged

The Hindu

Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. Whilst the rate of taxation remains unchanged, the size of each of the slabs, excluding the initial zero to ₹3 lakh, remains unchanged. Budget 2024-25: Taxes Earlier, the Finance Minister further placed increasing the standard deduction for salaried employees from …

Finance Budget Income Tax Sitharaman Lakhs Tax Slabs Lakh Remains

5 months ago

Budget 2024 announcements on new tax regime: Standard deduction increased, check new tax slabs

India TV News

Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that fiscal deficit estimated at 4.9% of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term. Sitharaman said, "I announce a comprehensive review of the Income Tax Act …

Tax Sitharaman

5 months ago

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime

India TV News

Uttar Pradesh CM Yogi Adityanath's reaction on Union Budget: "Under the guidance of PM Modi, in the new parliament of the country, the Finance Minister has laid down the general budget of the country which is - inclusive, development-oriented and one which will fulfil the aspirations of 140 cr people. The new tax slabs announced in the budget are welcoming." …

Budget This Budget

5 months ago

No revolutionary schemes for minorities, Dalits, Adivasis, backward classes: Kharge on Union Budget

New Indian Express

NEW DELHI: Congress president Mallikarjun Kharge on Tuesday termed the Union Budget as a "copycat" and alleged that it is not for the progress of the country but to save the Modi government. Union Finance Minister Nirmala Sitharaman presented the Budget for 2024-25, her 7th straight presentation, surpassing the record of former prime minister Morarji Desai. In a post in …

Budget Congress Kharge

5 months ago

No revolutionary schemes for minorities, Dalits, Adivasis, backward classes: Kharge on Union Budget

New Indian Express

NEW DELHI: Congress president Mallikarjun Kharge on Tuesday termed the Union Budget as a "copycat" and alleged that it is not for the progress of the country but to save the Modi government. Union Finance Minister Nirmala Sitharaman presented the Budget for 2024-25, her 7th straight presentation, surpassing the record of former prime minister Morarji Desai. In a post in …

Budget Congress Kharge

5 months ago

NDA’s job-growth focus in Budget, and beyond

Hindustan Times

The National Democratic Alliance government under Prime Minister Narendra Modi presenting its 11th consecutive full Budget would be an opportune moment to analyse the role of the Budget in addressing the aspirations of the youth by creating an enabling framework for job creation and fostering an environment for employment opportunities. New Delhi, India - The government has partnered the private …

India Job Employment Growth Jobs Budget Job Creation

5 months ago

ClearTax Launches WhatsApp-Based ITR Filing Solution for Over 20 Million Gig Workers in India

ABP News

Filing income tax returns is set to become even more convenient with a new initiative aimed at simplifying the process. ClearTax, a prominent online tax-filing platform, has introduced a WhatsApp-based ITR filing solution designed specifically for India's gig workers. This innovative service aims to streamline the tax filing process for more than 20 million gig workers across the country. This …

India Tax Gig Workers Filing Whatsapp Gig Cleartax

5 months ago

Budget 2024: This change to old income tax regime can provide relief to millions

India Today

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 on July 23, and as usual, a key demand amongst citizens is for tax relief. While reports indicate that the government may introduce measures to enhance the appeal of the new income tax regime, taxpayers are also hoping for a revamp of the old regime, which offers the …

Tax Inflation Income 2024 Old Lakh Regime

5 months, 1 week ago

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?

Hindustan Times

The deadline for filing income tax returns in 2024 is set on July 31. The Income Tax Department's website noted, “Over 2.7 crore ITRs have been filed as on 14 July 2024, which is 13% more compared to returns filed during the same period last year. While the milestone of filing of 1 crore of ITRs for AY 2024-25 arrived …

Tax Income 2024 Filing Portal Icai Income Tax Returns

5 months, 2 weeks ago

In our 3rd term, we will work with 3X speed: PM Narendra Modi in Lok Sabha

Hindustan Times

Prime Minister Narendra Modi on Tuesday laid the roadmap for the future and promised that the National Democratic Alliance would work 24x7 for a developed India by 2047 and vowed that reforms would move at “triple speed and triple power for triple results” during his third term. “In our 3rd term, we will work with 3X speed and it would …

India Prime Congress Work Gandhi Lok Sabha Country

6 months ago

Budget 2024: Finance minister Nirmala Sitharaman to increase income tax exemption limit?

Hindustan Times

Finance Minister Nirmala Sitharaman may increase income tax exemption limit in the upcoming Budget 2024 which is the first for the third term of the PM Modi Government. News agency Reuters reported that the first full-fledged Budget 2024 of Modi 3.0 may relieve taxpayers as the government is considering reducing income tax rates for specific groups of individuals. The government …

Tax Budget Income Nirmala Sitharaman 2024 Finance

6 months, 1 week ago

Budget 2024: Finance Ministry invites industry views on tax rates, litigation laws

Hindustan Times

The Finance Ministry has invited suggestions on direct and indirect taxes and changes in laws to reduce compliances for the 2024-25 Budget from trade and industry associations. The suggestions could include changes in the duty structure, rates and ideas on broadening of tax base on both direct and indirect taxes giving economic justification for the same, as per the ministry. …

Tax Direct Ministry

6 months, 1 week ago

Modi 3.0: Ministers were informed of their portfolios at 1st Cabinet meeting, says report

Live Mint

The suspense over portfolio allocation finally ended after an 18-hour wait for 30 cabinet ministers in the Narendra Modi government. However, the wait finally ended when they arrived at Lok Kalyan Marg for the new government's inaugural Cabinet meeting. Government observers said this was perhaps the first time ministers were informed of their portfolios through written notes placed inside envelopes. …

Wait Narendra Modi Cabinet Ministers Portfolios

6 months, 1 week ago

USISPF congratulates PM Modi on historic third term

ABP News

Washington, Jun 12 : Congratulating Narendra Modi on being sworn in as India's Prime Minister for a historic third term, a prominent India-centric American business advocacy group on Tuesday said the incoming portfolios assigned to parliamentarians showed there is a sense of continuity in policy and reform agenda. Modi was sworn in as prime minister on Sunday for a record-equalling …

India Prime Minister Pti Modi Nda Incoming Minister Historic Third Term

6 months, 1 week ago

PM Modi signs first file to transfer Kisan Nidhi instalment to farmers; Opposition sees ‘grand show’

The Hindu

The Union Government, on June 10, released the seventeenth instalment of the PM Kisan Nidhi as the first decision of the newly sworn-in Narendra Modi government. The Opposition said Mr. Modi, by signing the file, has done nobody a great favour as these are legitimate entitlements due to farmers according to his Government’s own policy. The Union Agriculture Ministry said …

Farmers Congress File Mr Modi Kisan Nidhi First File Pm Kisan Nidhi

6 months, 1 week ago

‘Hope Karnataka will receive its due share’: CM Siddaramaiah congratulates PM Modi

Hindustan Times

Karnataka Chief Minister Siddaramaiah on Sunday congratulated Prime Minister Narendra Modi for his third term and further said that the people of Karnataka are hoping to receive its due share and support during the new term. Meanwhile, Narendra Modi took oath as Prime Minister of India for his third successive term on Sunday at an impressive ceremony at the Rashtrapati …

India Karnataka Prime Prime Minister Term Minister Modi

6 months, 2 weeks ago

Narendra Modi Cabinet highlight: Finance Ministry announces major tax devolution

Hindustan Times

June 10, 2024 7:55 PM IST Jitin Prasada - Minister of State in the Ministry of Commerce and Industry; and Minister of State in the Ministry of Electronics and Information Technology. Kirtivardhan Singh - Minister of State in the Ministry of Environment, Forest and Climate Change; and Minister of State in the Ministry of External Affairs. B. L. Verma - …

State Minister Ministry Affairs

6 months, 2 weeks ago

AAP MP Sanjay Singh claims new NDA govt will collapse within year because...

India TV News

Reacting to the formation of Modi government 3.0, AAP MP Sanjay Singh on Sunday claimed the new government under Narendra Modi's leadership will collapse in a year. Modi took oath as prime minister on Sunday for a record-equalling third term, heading a 72-member Union Council of Ministers. Along with Modi, senior BJP leaders including Rajnath Singh, Amit Shah, Nitin Gadkari, …

Singh Modi Nda Sanjay Singh

6 months, 2 weeks ago

Modi 3.0: PM Narendra Modi signs first file to release Rs 20,000 crore for PM Kisan Nidhi

India TV News

After assuming office for a record-equalling third term, Prime Minister Narendra Modi signed his first official file on Monday, authorising the release of the 17th installment of the PM Kisan Nidhi scheme. Swearing-in ceremony On Sunday, 71 ministers were sworn in as part of PM Modi's new cabinet at Rashtrapati Bhavan in New Delhi. Empowering farmers through PM Kisan Nidhi …

Farmers Ministers Cabinet Modi Pm Modi Farmer First File

6 months, 2 weeks ago

Compulsions of a coalition council

Hindustan Times

After a decade of dominance in Parliament and government, Prime Minister Narendra Modi starts his third consecutive term in office as the head of a coalition government. That all of them find space in his third government, and the allies have been given only 11 slots in the council of ministers perhaps suggests that the BJP has had its way; …

Bjp Nda

6 months, 2 weeks ago

India’s Modi sworn in for third term after election setback

Raw Story

Indian Prime Minister Narendra Modi was sworn in on Sunday for a third term after worse-than-expected election results left him reliant on coalition partners to govern. Modi’s Hindu-nationalist Bharatiya Janata Party ruled outright for the past decade but failed to repeat its previous two landslide wins this time around, defying analysts’ expectations and exit polls. Flanked by top BJP officials …

India Pakistan Congress Indian Kashmir Coalition Party

6 months, 2 weeks ago

BJP president J.P. Nadda part of Modi 3.0 Cabinet

The Hindu

BJP president J.P. Nadda’s inclusion in the new Council of Ministers of the NDA government on Sunday has indicated an imminent overhauling of the party’s organisational structure, given that his tenure is to end in June. Speaking to the media on Sunday, the former Union Minister said he would keep striving as a party worker to fulfil the goal of …

India Congress Party Bjp Minister Nadda Modi

A mundane wishlist for Modi 3.0

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