Budget Tax

In her first Budget, Finance Minister Nirmala Sitharaman made no changes in the income tax structure. However, she announced a slew of new income tax proposals that could impact many taxpayers. "We are thankful to the taxpayers who play a major role in nation building by paying their taxes. However, in view of rising income levels, those in the hig...

Budget 2019: Under NPS scheme, a government employee contributes towards pension from monthly salary along with matching contribution from the employer. The funds are then invested in earmarked investment schemes through pension fund managers.

In today's Budget announcement, Ms Sitharaman announced no changes in the income tax structure.

Currently, the lower rate of 25 per cent is only applicable to companies having annual turnover up to Rs 250 crore.

The proposed tax deduction at source (TDS) could be deposited using an individuals permanent account number (PAN) only.

PAN has so far been mandatory for filing Income Tax Returns. After Aadhaar was introduced, it became mandatory to link PAN and Aadhaar for this purpose.

In the interim Budget, the government had proposed a rebate on all payable taxes if an individual's taxable income is up to Rs 5 lakh per annum

Finance Minister Nirmala Sitharaman will announce her first budget today, outlining the priorities of Prime Minister Narendra Modi in his second term after a massive election victory. Nirmala Sitharaman, India's first full-time woman finance minister, is widely expected to boost spending and provide tax relief in the much-anticipated Union Budget. ...

According to the industry body, further rationalisation of taxes and simplification of registration process among others will usher in GST 2.0.

Rationalisation of various GST rates is one of the demands of the hospitality/tourism sectors.