During her speech, the Finance Minister announced that individuals earning up to Rs 12 lakh will be exempt from paying taxes.

The Union Budget 2025, presented in the Parliament Session on February 1, 2025, introduced major reforms in exemptions and deductions under the new tax regime for the Financial Year (FY) 2025-26 and ...

Several redundant Chapters and Sections in the 1961 Act are omitted. The Tax Administration should endeavour to maintaining ...

The Indian economy is likely to get a boost from rural demand picking up and a government-announced tax relief that is ...

Additionally, international cooperation is critical, as DeFi transactions often cross borders. Double taxation risks arise when multiple jurisdictions attempt to tax the same income. India could adopt ...

The concept of Previous Year and Assessment Year, thus, were creating confusion in the minds of taxpayers as they represented two different years.

For property bought prior to July 23 2024, the tax on LTCG is computed as lower of 12.5% (without indexation) or 20% (with ...

The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely ...

FM tables the Income Tax Bill, 2025, which aims to simplify tax laws, enhancing clarity. Experts say it is a serious attempt to simplify and remove ambiguity ...

This new bill, tabled in Lok Sabha by Finance Minister Nirmala Sitharaman, seeks to replace the existing Income Tax Act, 1961 ...

Chidambaram said at the India Today-Business ... for earning income. And income subjected to special tax rates, such as ...