The Income Tax Bill 2025 is a big step forward in making India’s tax system friendlier but there are areas that need review. Constructive stakeholder consultations will be key to refine its provisions ...

Auto dealerships employ a wide range of workers and often maintain a variety of complex pay plans, which can make compliance with federal wage ...

Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

Finance Minister Nirmala Sitharaman has made the new tax regime more attractive by making income up to Rs 12 lakh tax-free in ...

In 2014, taxpayers were exempt from tax on income up to Rs 2 lakh. Budget 2025 has significantly expanded this relief to Rs ...

On the other hand, if the taxpayer's age is 60 years or more but below 80 years, then he/she will be considered a senior citizen, and income up to Rs 3 lakh will be exempt from tax ... having ...

India extends customs duty exemption on ship making inputs for another 10 years to boost domestic shipbuilding and ... She proposed 10,000 fellowships under PM Research Fellowship scheme in the next ...

Under the old tax regime, Income from Rs 2.5-5 lakh attracts 5 per cent tax, and 20 per cent for income between Rs 5 lakh and Rs 10 lakh ... former offers a host of exemptions and deductions ...