Budget 2021 Tax Highlights: In a major tax relief for senior citizens, Finance Minister Nirmala Sitharaman while presenting Budget 2021 announced that citizens aged 75 years and above, who only have pension and interest income are now exempted from filing the tax returns. In last year's budget, a major cut in the tax rates for the salaried class was announced, which, ...
Budget 2021: Experts believe that COVID cess may be made applicable to higher income brackets individuals or business with specified turnovers
Budget 2021: Individual taxpayers and the middle-class expect reduced GST rates in various sectors, and increased deduction for the interest on home loans from the taxable income
The government in last year's Union Budget announced a new and simplified personal tax regime consisting of revised income tax slabs and tax rates
The government has made some drastic changes in income tax rules over the years, ranging from changes in income tax rates to reintroduction of standard deduction and a higher income threshold for rebate
Any contribution by employers towards these social security schemes beyond Rs 7.5 lakh per annum would be treated as perquisite of the employee and taxed accordingly.
New Tax Slab: Every year, speculations on major income tax changes in Union Budget - potentially sending more money to the pockets of the common man - drive investment decisions for many individuals, say financial planners.
New Income tax Slab: Union Finance Minister Nirmala Sitharaman in her Budget 2020-2021 speech emphasized that entrepreneurship has always been the "strength of India."
Long-Term Capital Gains Tax: This tax is applicable on profits arising from sale of applicable assets held for more than one year from the date of purchase.
Union Budget 2020: Finance Minister Nirmala Sitharaman will present the first full-year Union Budget of Prime Minister Narendra Modi's government in Parliament on February 1.