Income Tax Bill News LIVE: The Union Cabinet is expected to approve the new Income Tax Bill, potentially leading to its introduction in the Lok Sabha early the following week. This bill is part of a larger effort to reform the tax system and aims to overhaul the existing tax structure to make it more…
Imagine getting a salary bump, only to find that your tax bill eats up most—if not all—of your raise. While the new tax regime in Budget 2025 promises no tax on incomes up to â‚ą12 lakh, it doesn’t necessarily mean that earning a little more is always beneficial. Thankfully, marginal relief has your back, ensuring…
The Union Budget 2024 endorses the government’s policy of an apparent tilt to the New Tax Regime over the previous one, as evident from a slew of efforts to make it a more attractive proposition for taxpayers. The government’s push for the New Tax Regime became evident last year when the income threshold limit for…
New income tax vs. old income tax slabs: Finance Minister Nirmala Sitharaman presented the Narendra Modi 3.0 government’s first budget on July 23. In sops for the middle class, FM hiked the standard deduction by 50 per cent to â‚ą75,000 and tweaked tax slabs under the new income tax regime to provide more money for…
