It is time India started indexing tax slabs and exemptions with inflation
As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and ...
Tax Guru4d
Income tax slabs for Individuals – FY 2024-25 (New and old tax regime)
Introduction: The Budget, 2024 has introduced significant changes to individual income tax slabs, making the new tax regime more appealing. While the new regime offers fewer deductions and exemptions, ...
Despite Covid crisis, India growing at 7-8%, says Dharmendra Pradhan
Though several developed economies suffered badly due to the Covid crisis, India continued to grow at 7 to 8 per cent during ...
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Decoding Income Tax Forms: Which ITR Form Is Right For You? Check Here
Filing taxes may appear overwhelming due to the various slabs, exemptions and the different Income Tax Return (ITR ... All You Need to Know Designed for individuals residing in India with a total ...
Uniparts India Standalone September 2024 Net Sales at Rs 145.15 crore, down 22.14% Y-o-Y
Net Sales at Rs 145.15 crore in September 2024 down 22.14% from Rs. 186.42 crore in September 2023. Quarterly Net Profit at Rs. 38.53 crore in September 2024 up 186.17% from Rs. 13.46 crore in ...
CTC vs take-home salary: How do the old and new tax regimes specifically impact FMCG and retail employees; key details
The inaugural Budget of the Modi 3.0 administration, presented by Finance Minister Nirmala Sitharaman in July 2024, included significant revisions to the tax regime, with a particular focus on the New ...
Indiatimes4d
INCOME TAX CALCULATOR 2024 (FY 2024-25)
The revisions include new income tax slabs for the fiscal year 2024-25. The standard deduction, which reduces the taxable income, has been increased from Rs. 50,000 to Rs. 75,000. Additionally, the ...
BankBazaar2d
Income Tax in India
In the Union Budget 2024, the Finance Minister of India announced changes to the income tax slab for the new regime. However, the new income tax regime is optional, and individuals can opt for it or ...
BankBazaar2d
Income Tax Slab Rates for FY 2023-24 (AY 2024-25)
7% of Income tax where total income is more than ₹1 crore 12% of Income tax where total income is more than ₹10 crores ...
Tax Guru13d
Impact of the New Income Tax Regime on Salaried Employees
The alternative new income tax regime in India launched in the Financial Year (FY ... By being more inclusive of different tax slabs and having lower tax rates, the regime seeks to eliminate this. The ...
Forbes India29d
Direct and Indirect Tax in India: Differences, types
“There are two things certain in life, said Benjamin Franklin once, “death and taxes”. Taxation is an essential part of our lives, shaping how governments function and providing the ...
Non-disclosure of foreign property invites Rs 10 lakh penalty per year
Rental income from a foreign property is taxed under the head "Income from House Property". This income must be declared in ...