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Budget 2025: Mohandas Pai calls for revised tax slabs, relief for middle-class
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1 week, 2 days ago

Budget 2025: Mohandas Pai calls for revised tax slabs, relief for middle-class

India Today  

As the 2025 Union Budget approaches, former Infosys CFO TV Mohandas Pai has outlined his recommendations for substantial tax reforms. PROPOSED TAX REFORMS Pai highlighted the sharp increase in individual tax collections, which rose from Rs 4.87 lakh crore in FY21 to Rs 10.45 lakh crore in FY24—a 114% jump in three years. He proposed new tax slabs with no …

Tax Budget Middle Lakh Pai Calls
Which income tax regime should salaried employees choose? Details here
1 year, 8 months ago

Which income tax regime should salaried employees choose? Details here

Hindustan Times  

With the onset of new financial year on April 1, several new income tax laws like the new tax regime being set as the default one to the increase in the tax rebate limits, came into effect. Under the new tax regime, an individual with an annual income of up to ₹ 7 lakh would not be required to pay …

Tax Pay Income Lakh Regime Income Tax Slabs
New tax regime ‘sweetened’ to benefit maximum number of taxpayers: CBDT Chairman
1 year, 11 months ago

New tax regime ‘sweetened’ to benefit maximum number of taxpayers: CBDT Chairman

The Hindu  

The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it will be beneficial for maximum number of taxpayers as they can enjoy a "reduced" tax rate, CBDT Chairman Nitin Gupta said. Speaking to PTI during a post-Budget interview, Gupta said the intent of the government while announcing the new slabs and rates under …

Tax Budget Income Pti Old Gupta Lakh
Income Tax Slabs Overhauled Under New Regime, Rebate Limit Up; Check New Tax Rates
1 year, 11 months ago

Income Tax Slabs Overhauled Under New Regime, Rebate Limit Up; Check New Tax Rates

News 18  

Budget 2023: Finance minister Nirmala Sitharaman has announced changes in the new regime of personal income tax. Govt proposed to increase the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in new tax regime. Resident individual with total income up to Rs 5 lakh do not pay any tax due to rebate under both old and …

Tax Income Lakh Regime Lakhs New Regime Old Regime
Budget 2023 | Those earning up to ₹7 lakh a year need not pay income tax
1 year, 11 months ago

Budget 2023 | Those earning up to ₹7 lakh a year need not pay income tax

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday announced that those earning up to ₹7 lakh a year need not pay any income tax under the new tax regime, giving a push for the regime which disallows all exemptions on investments. Those earning up to ₹7 lakh annually and opting for new tax regime, could save ₹33,800. “It is proposed to increase …

Tax Budget Income Tax Pay Income Lakh Regime
GST: Govt Plans To Reduce Slabs; Tax To Increase On Goods And Services?
2 years, 8 months ago

GST: Govt Plans To Reduce Slabs; Tax To Increase On Goods And Services?

News 18  

The government is planning to raise the goods and services tax over the next two years and reduce the number of slabs, according to an FE report quoting sources. This may help the government raise tax collections and reduce inflation which is already at a 17-month high of 6.95 per cent. Currently, the GST system has four slabs — 5 …

Crore Cent Rate Gst Goods Slabs
Income Tax Slab for Senior Citizens after Budget 2022; All you Need to Know
2 years, 11 months ago

Income Tax Slab for Senior Citizens after Budget 2022; All you Need to Know

News 18  

Finance minister Nirmala Sitharaman tabled Union Budget 2022-23 in Parliament on February 1. Thus, with no change in the income tax rates and slabs, an individual taxpayer will continue to pay the same rate of tax depending on the tax regime chosen for FY 2022-23. Current Income Tax slabs for Individual, 60 years or more but less than 80 years …

Age Income Tax Income Senior Citizens Regime 75 Years Individual Tax
Income Tax Budget LIVE Updates: Cryptocurrency to be Taxed, No Change in Income Tax Slabs
2 years, 11 months ago

Income Tax Budget LIVE Updates: Cryptocurrency to be Taxed, No Change in Income Tax Slabs

News 18  

Income Tax Slabs, Budget 2022 LIVE Updates: Salaried middle class wants finance minister Nirmala Sitharaman to announce some populist measures in Union Budget 2022.?New provision Permitting tax payers to file an updated return on payment of additional tax, permitted up to two years,? The middle class taxpayers also expect an increase in Section 80C deduction under the Income Tax Act, …

Tax Income Expect Finance Minister Budget Live
Income-Tax Slabs Remain Unchanged; IT Relief For Senior Citizens Above 75 Years : Budget 2021 Highlights
3 years, 11 months ago

Income-Tax Slabs Remain Unchanged; IT Relief For Senior Citizens Above 75 Years : Budget 2021 Highlights

Live Law  

The Union Finance Minister, Nirmala Sitharaman today presented the Budget for financial year 2021-22 in the Parliament. A key outline of the allocation is as follows: New Centrally Main interventions under the scheme include: Support for Health and Wellness Centres, Setting up Integrated Public Health labs in all districts, Critical care hospital blocks, Strengthening of National Centre for Disease Control …

Health India Tax Budget National Companies Crore
Budget 2021: Know All About the Existing Income Tax Slabs
3 years, 11 months ago

Budget 2021: Know All About the Existing Income Tax Slabs

News 18  

Union Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2021 at the parliament on February 1. Sitharaman introduced new income tax slabs and tax rate for different sections of individual income up to Rs 15 lakh per annum, provided the taxpayer chooses to give up exemptions and deductions, in the budget of 2020. Next comes individuals …

Tax Budget Income Cent Lakh Rs 15 Lakh Rs 15
Budget brings new income tax slabs, but old regime also stays | Explained
4 years, 11 months ago

Budget brings new income tax slabs, but old regime also stays | Explained

India Today  

The government announced a major overhaul of the income tax structure Saturday morning. Under the new proposed regime, the income tax slabs will be as follows: - For incomes of up to Rs 5 lakh per year, there will be no income tax. - For incomes between Rs 5 lakh and Rs 7.5 lakh per year, the income tax to …

Tax Income Cent Lakh Sitharaman Paid Rs 10 Lakh
Govt proposes BIG relief on income tax slabs in Budget 2020: Reports
4 years, 11 months ago

Govt proposes BIG relief on income tax slabs in Budget 2020: Reports

India TV News  

The Prime Minister Narendra Modi-led government is all set to bring big relief for income tax payers in the upcoming Union Budget 2020. The new structure would be similar to tax rates proposed by Finance Minister Nirmala Sitharaman late last year where the government had given relief to taxpayers whose annual income was less than Rs 5 lakh. At present …

Tax Budget Income Tax Income Cent Lakh Slab
Budget 2020: Why taxpayers may benefit from slowdown
4 years, 11 months ago

Budget 2020: Why taxpayers may benefit from slowdown

India Today  

The government may slightly tweak personal income tax slabs or offer a lower flat tax rate in the upcoming budget as it looks to revive the slowing economy. A finance ministry source, who spoke to India Today on condition of anonymity, said the government is "actively considering" the prospect of tweaking income tax slabs and help increase the disposable income …

Income Cent Lakh Rs 5 Lakh Boost Rate Tax Slabs
Budget 2019: Will income tax slabs, rates get another revision?
5 years, 6 months ago

Budget 2019: Will income tax slabs, rates get another revision?

India Today  

Expectations are soaring among Indian taxpayers, who are eagerly awaiting new finance minister Nirmala Sitharaman's maiden budget speech on July 5. According to tax experts, the government is unlikely to increase the basic income tax exemption limit in this year's full budget as it had already announced a provision where individuals earning up to Rs 5 lakh can get full …

Income Tax Income Lakh Increase Limit Basic Exemption