Tamil Nadu Finance Minister Thangam Thennarasu presented the MK Stalin government’s budget for 2025-26 in the legislative assembly on March 14, amid the ruling DMK’s war of words with the BJP-ruled centre. This is the fifth Budget of the present DMK government since it stormed to power in 2021. The Budget assumes significance as Tamil…
Tamil Nadu Finance Minister Thangam Thennarasu will present the state budget for 2025-26 on Friday amid the ruling DMK’s war of words with the BJP-ruled centre. This will be fifth Budget of the present DMK government since led by Chief Minister MK Stalin since storming to power in 2021.Ā The Budget speech will begin at…
The second leg of Parliamentās Budget session will begin today, March 10. The session is expected to begin on a stormy note, with the Opposition planning to corner the Union government on issues like US trade tariffs, alleged manipulation of electoral rolls, the Waqf bill, delimitation and the three-language rule in National Education Policy (NEP)….
Indians have long had a confrontational relationship with the nationās tax office, whose adversarial approach has crushed countless small businesses and international investors. This was meant to be the year the government fixed all that and repaired relations with taxpayers. A few weeks ago, Indiaās federal budget cut taxes for many middle-class Indians. It also…
The āmodel BIT” referred to is the one released by the government in 2016 to overhaul Indiaās approach to BITs. While India had signed over 80 BITs between 1994 to 2011, it terminated 68 of them in 2016-17. Other countries did likewise, as the 1990s model followed globally was widely seen as outdated. Indiaās reworked…
Union Finance Minister Nirmala Sitharaman on Feb 13 tabled the new Income Tax Bill in the Parliament. This was a landmark move as the entire 64-year-old income tax law was overhauled and the older complex provisions were made simpler and lucid amid much fanfare. One of the key arguments given by the Finance Minister was…
Though the announcement was widely welcomed, it failed to address a critical question ā does income from capital gains affect a personās eligibility for the rebate? In other words, if a person with a ā¹12 lakh salary earns an additional ā¹1 lakh from capital gains, will they lose the rebate or will they only have…
In Budget 2025, Finance MinisterĀ Nirmala Sitharaman announced that taxpayers withĀ income upto ā¹12 lakh do not need to pay any income tax. Aside from this,Ā salaried taxpayers will be entitled to take an additional benefit of no tax by virtue of ā¹75,000 standard deduction. Notably, these changes will come into effect from April 1 2025, which means…
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…
Its key proposals highlight the governmentās commitment to ensure a transparent and business-friendly tax environment. A more concise and structured law: One of the most notable aspects of the Bill is its reduced volume. The legislation cuts the section count from 819 effective ones to 536, significantly reducing the word count by half. This comes…
