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New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

Union Finance Minister Nirmala Sitharaman is expected to introduce a new Income Tax Bill in Parliament today that will replace the existing Income Tax Act of 1961. The purpose of this new bill is to simplify the language and provisions of the current tax law, making it easier to understand and more accessible for taxpayers. The bill is part of the government’s ongoing efforts to reform and modernize the Indian tax system. The new bill will streamline various processes, eliminate complex

Finance & Economics

14 Feb 2025 06:36 AM 1.73k views

New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

Union Finance Minister Nirmala Sitharaman is expected to introduce a new Income Tax Bill in Parliament today that will replace the existing Income Tax Act of 1961. The purpose of this new bill is to simplify the language and provisions of the current tax law, making it easier to understand and more accessible for taxpayers. The bill is part of the government’s ongoing efforts to reform and modernize the Indian tax system. The new bill will streamline various processes, eliminate complex

Finance & Economics

Choosing Between the Old and New Income Tax Regime: Which One Fits You

The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

Business

06 Feb 2025 06:28 AM 2.71k views

Choosing Between the Old and New Income Tax Regime: Which One Fits You

The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

Business

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

General

02 Feb 2025 06:17 AM 1.69k views

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

General

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

Business

30 Jan 2025 04:06 AM 1.4k views

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

Business

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

Between April and November 2024, the Indian government dispersed Rs 3.08 lakh crore in income tax refunds, reflecting a significant 46% increase compared to the same period last year. As of November 22, about 98.35% of Income Tax Returns (ITRs) filed have been e-verified, with a record-breaking 69.93 lakh ITRs submitted on a single day, July 31. The total number of ITRs filed by November 22 stands at 8.50 crore, a 7.32% increase from the previous year. The introduction of innovation

General

24 Dec 2024 11:06 AM 1.42k views

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

Between April and November 2024, the Indian government dispersed Rs 3.08 lakh crore in income tax refunds, reflecting a significant 46% increase compared to the same period last year. As of November 22, about 98.35% of Income Tax Returns (ITRs) filed have been e-verified, with a record-breaking 69.93 lakh ITRs submitted on a single day, July 31. The total number of ITRs filed by November 22 stands at 8.50 crore, a 7.32% increase from the previous year. The introduction of innovation

General

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

The article highlights the significant increase in the number of wealthy individuals in India, specifically those reporting taxable incomes exceeding Rs 1 crore annually. Over 220,000 people now fall into this high-income bracket, with more than 100,000 of them joining in just the past three years. This sharp rise is attributed to the rapid economic growth in India, particularly in sectors such as technology, finance, and entrepreneurship. These industries have driven the creation of substant

Finance & Economics

12 Nov 2024 02:02 AM 1.29k views

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

The article highlights the significant increase in the number of wealthy individuals in India, specifically those reporting taxable incomes exceeding Rs 1 crore annually. Over 220,000 people now fall into this high-income bracket, with more than 100,000 of them joining in just the past three years. This sharp rise is attributed to the rapid economic growth in India, particularly in sectors such as technology, finance, and entrepreneurship. These industries have driven the creation of substant

Finance & Economics

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Koratala Siva, a renowned filmmaker in the Telugu film industry, recently drew attention with his remarks about taxpayer privileges during a podcast hosted by former IAS officer Jayaprakash Narayanan. Known for his successful directorial career, Siva shared a personal anecdote about an incident at the airport where he felt entitled to special treatment due to his high tax contributions. During the podcast, Siva recounted an experience where, due to a tight schedule,

General

17 Aug 2024 08:12 AM 1.29k views

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Koratala Siva, a renowned filmmaker in the Telugu film industry, recently drew attention with his remarks about taxpayer privileges during a podcast hosted by former IAS officer Jayaprakash Narayanan. Known for his successful directorial career, Siva shared a personal anecdote about an incident at the airport where he felt entitled to special treatment due to his high tax contributions. During the podcast, Siva recounted an experience where, due to a tight schedule,

General

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#income

New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

Choosing Between the Old and New Income Tax Regime: Which One Fits You

Choosing Between the Old and New Income Tax Regime: Which One Fits You

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Andhra Pradesh CM Announces Work from Home Initiative for Women Under IT & GCC Policy 4.0

Livermore Named 2nd Safest Suburb In California, Ranks 37th Safest City In U.S.

ED Raids Trigger High Drama in Kolkata as Mamata Banerjee Walks Out With Files

President Clears SHANTI Bill, Unlocks India’s Nuclear Power Sector For Private Firms

US stocks rally as ceasefire with Iran lifts market sentiment

Shyam Benegal (1934-2024): A Cinematic Icon Bids Goodbye

AI market faces shakeout as Bill Gates warns of overvalued companies

U.S. Hits Steel and Aluminum Imports with 25% Tariffs—Global Markets React

Amit Shah’s Chennai Visit Sparks Speculation Over Tamil Nadu BJP Leadership Change

Mysticism and Spiritual Experiences

Popular Cities

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Andhra Pradesh CM Announces Work from Home Initiative for Women Under IT & GCC Policy 4.0

Livermore Named 2nd Safest Suburb In California, Ranks 37th Safest City In U.S.

ED Raids Trigger High Drama in Kolkata as Mamata Banerjee Walks Out With Files

President Clears SHANTI Bill, Unlocks India’s Nuclear Power Sector For Private Firms

US stocks rally as ceasefire with Iran lifts market sentiment

Shyam Benegal (1934-2024): A Cinematic Icon Bids Goodbye

AI market faces shakeout as Bill Gates warns of overvalued companies

U.S. Hits Steel and Aluminum Imports with 25% Tariffs—Global Markets React

Amit Shah’s Chennai Visit Sparks Speculation Over Tamil Nadu BJP Leadership Change

Mysticism and Spiritual Experiences

#income

New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

New Income Tax Bill May Affect NRIs with Income Over 15 Lakhs

Choosing Between the Old and New Income Tax Regime: Which One Fits You

Choosing Between the Old and New Income Tax Regime: Which One Fits You

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Union Budget 2025: Comprehensive Announcements for Economic Growth, Tax Relief, and Infrastructure Development

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

Direct Tax Code to Be Introduced Separately, Not with Union Budget 2025

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

Rs 3.08 Lakh Crore Income Tax Refunds Disbursed in FY 2025, Up 46%

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

"India Sees Surge in High-Income Earners: 220,000+ Earning Over Rs 1 Crore"

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Koratala Siva Sparks Debate on Taxpayer Privileges After Airport Incident

Andhra Pradesh CM Announces Work from Home Initiative for Women Under IT & GCC Policy 4.0

Livermore Named 2nd Safest Suburb In California, Ranks 37th Safest City In U.S.

ED Raids Trigger High Drama in Kolkata as Mamata Banerjee Walks Out With Files

President Clears SHANTI Bill, Unlocks India’s Nuclear Power Sector For Private Firms

US stocks rally as ceasefire with Iran lifts market sentiment

Shyam Benegal (1934-2024): A Cinematic Icon Bids Goodbye

AI market faces shakeout as Bill Gates warns of overvalued companies

U.S. Hits Steel and Aluminum Imports with 25% Tariffs—Global Markets React

Amit Shah’s Chennai Visit Sparks Speculation Over Tamil Nadu BJP Leadership Change

Mysticism and Spiritual Experiences

Popular Cities