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Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

11 Aug 2025 09:55 AM 643 views

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

07 Jul 2025 08:30 AM 538 views

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

26 Jun 2025 10:15 AM 538 views

Check These Points Before Filing Your ITR With Form 16

Filing your Income Tax Return (ITR) can be a complex task, especially if you're doing it without professional help. For salaried individuals, Form 16 is a crucial document that simplifies the process by providing details of salary earned and the tax deducted at source (TDS). If you've received your Form 16 and are preparing to file your ITR, it's important to first review the form thoroughly to ensure accuracy.

Finance & Economics

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

As the new financial year commences on April 1, 2025, several significant income tax changes have officially come into effect, directly impacting salaried individuals, senior citizens, investors, and taxpayers across the country. Announced during Budget 2025, these updates aim to simplify compliance, improve transparency, and provide substantial relief to the middle class. From revised tax slabs to increased deduction limits and changes in TDS thresholds, here’s a complete breakdown of

Business

02 Apr 2025 01:41 AM 1.72k views

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

As the new financial year commences on April 1, 2025, several significant income tax changes have officially come into effect, directly impacting salaried individuals, senior citizens, investors, and taxpayers across the country. Announced during Budget 2025, these updates aim to simplify compliance, improve transparency, and provide substantial relief to the middle class. From revised tax slabs to increased deduction limits and changes in TDS thresholds, here’s a complete breakdown of

Business

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency. Here’s a simple breakdown of the key changes that come into effect starting April 1. 1. Higher Income Tax Exemption Limit

Finance & Economics

01 Apr 2025 03:32 AM 1.16k views

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency. Here’s a simple breakdown of the key changes that come into effect starting April 1. 1. Higher Income Tax Exemption Limit

Finance & Economics

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying a property in India can be challenging in itself, but when the seller is a non-resident Indian (NRI), the process becomes even more complex. While location, pricing, and negotiation remain critical, buyers must also navigate a web of tax compliance and documentation requirements. A single error in the transaction can result in steep penalties, especially when it comes to Tax Deducted at Source (TDS) under Section 195 of the Income Tax Act. Unlike typical real estate deals bet

NRI News

28 Mar 2025 02:28 AM 1.19k views

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying a property in India can be challenging in itself, but when the seller is a non-resident Indian (NRI), the process becomes even more complex. While location, pricing, and negotiation remain critical, buyers must also navigate a web of tax compliance and documentation requirements. A single error in the transaction can result in steep penalties, especially when it comes to Tax Deducted at Source (TDS) under Section 195 of the Income Tax Act. Unlike typical real estate deals bet

NRI News

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Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Check These Points Before Filing Your ITR With Form 16

Check These Points Before Filing Your ITR With Form 16

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

How Nail Biting Damages Fingers, Teeth And Mental Health; Causes, Risks And Ways To Stop

Driver falls asleep and crashes into Amazon truck in Mineral Wells

Trump Invites Zelensky for Critical Minerals Deal, Suggests Russia-Ukraine War Could End in Weeks

"Air Marshal Amar Preet Singh Appointed as Next Chief of Air Staff"

"Nico Williams Withdraws from Spain Squad for Nations League Matches Due to Injury"

Austin Man’s Smartwatch Warning Leads to Life-Saving Heart Diagnosis

Climate Change and Extreme Weather Events: Rising Global Temperatures and Their Consequences

Seagull With Chinese GPS Device Found Near Naval Base In Karnataka Sparks Investigation

US proposes five-year social media checks for visa-free foreign travellers

Google Cloud Outage Disrupts Gmail, Spotify, OpenAI Services

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How Nail Biting Damages Fingers, Teeth And Mental Health; Causes, Risks And Ways To Stop

Driver falls asleep and crashes into Amazon truck in Mineral Wells

Trump Invites Zelensky for Critical Minerals Deal, Suggests Russia-Ukraine War Could End in Weeks

"Air Marshal Amar Preet Singh Appointed as Next Chief of Air Staff"

"Nico Williams Withdraws from Spain Squad for Nations League Matches Due to Injury"

Austin Man’s Smartwatch Warning Leads to Life-Saving Heart Diagnosis

Climate Change and Extreme Weather Events: Rising Global Temperatures and Their Consequences

Seagull With Chinese GPS Device Found Near Naval Base In Karnataka Sparks Investigation

US proposes five-year social media checks for visa-free foreign travellers

Google Cloud Outage Disrupts Gmail, Spotify, OpenAI Services

#tds

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Check These Points Before Filing Your ITR With Form 16

Check These Points Before Filing Your ITR With Form 16

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

New Income Tax Rules from April 1, 2025: Revised Slabs, Deductions, TDS Thresholds Explained

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

New Financial Year 2025 Begins: Major Changes in Tax, Banking, and Investment Rules from April 1

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

Buying Property from an NRI? Here's What Every Indian Buyer Must Know

How Nail Biting Damages Fingers, Teeth And Mental Health; Causes, Risks And Ways To Stop

Driver falls asleep and crashes into Amazon truck in Mineral Wells

Trump Invites Zelensky for Critical Minerals Deal, Suggests Russia-Ukraine War Could End in Weeks

"Air Marshal Amar Preet Singh Appointed as Next Chief of Air Staff"

"Nico Williams Withdraws from Spain Squad for Nations League Matches Due to Injury"

Austin Man’s Smartwatch Warning Leads to Life-Saving Heart Diagnosis

Climate Change and Extreme Weather Events: Rising Global Temperatures and Their Consequences

Seagull With Chinese GPS Device Found Near Naval Base In Karnataka Sparks Investigation

US proposes five-year social media checks for visa-free foreign travellers

Google Cloud Outage Disrupts Gmail, Spotify, OpenAI Services

Popular Cities