Union Minister Finance Minister Nirmala Sitharaman presented the new Income Tax Bill 2025 in the Lok Sabha on Thursday, February 2025. The proposed bill aims to eliminate intricate language in the existing Act, remove redundant and repetitive provisions, and logically reorganise sections, according to the Finance Ministry. FM Nirmala Sitharaman urged Lok Sabha Speaker Om…
Finance Minister Nirmala Sitharaman on Wednesday asked tax officers to use simple words in income tax communication that they send to taxpayers and use their power judiciously. Nirmala Sitharaman, speaking at the 165th Income Tax Day celebrations in the national capital, said after adopting the faceless regime, tax officers must now aim to be more…
Budget 2024: In a shock to investors, Finance Minister Nirmala Sitharaman, in her presentation of the Union Budget for FY 2024-25, announced several key tax changes impacting capital gains and trading activities. FM announced that the long-term capital gains tax rate on all financial and non-financial assets will rise from 10% to 12.5%, with an…
Budget 2024: With an aim to recognise first-time employees, Union Finance Minister Nirmala Sitharaman on Tuesday announced three employment-linked incentive schemes for employers and employees based on enrolment in the Employees’ Provident Fund Organisation (EPFO). These three schemes, including Scheme A (one month’s salary for freshers), Scheme B (job creation in manufacturing), and Scheme C…
Budget 2024: Finance Minister Nirmala Sitharaman on July 23 announced the Union Budget 2024. During her speech, the Finance Minister announced that the standard deduction to be increased to âš75,000 in new tax regime. The government also lowered its fiscal deficit target to 4.9 percent of GDP for the financial year ending March 2025. What…
