Income Tax

Central Board of Direct Taxes (CBDT) chairman Nitin Gupta has said that he expects at least 50-66 per cent (two-thirds) of the taxpayers to switch over to the new tax regime in the next financial year itself.

"It is election time," Bihar Chief Minister Nitish Kumar said, sarcastically, on Thursday when asked if the Union Budget's proposal to raise the personal income tax rebate limit would bring relief to the middle class.

The new tax regime has been made the default system for everyone. The old tax regime will be available on request, the finance minister announced

There is a rebate that is available under Section 87A of the Income Tax Act. This reduces the tax that you have to pay if the taxable income is below a certain limit.

The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal.

The Union Budget on Wednesday proposed removing the exemption from paying income tax by news agencies.

In the last full Budget before Prime Minister Narendra Modi seeks a third term, the government Wednesday unveiled a slew of measures aimed at appeasing India's middle class.

Finance Minister Nirmala Sitharaman today announced big relief for taxpayers and a mega push for capital spending and infrastructure as she unveiled the government's last Budget before the 2024 national election.

Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.

Automotive Component Manufacturers Association President Sunjay J Kapur said the budget is a blueprint of a digitally enabled Aatmanirbhar Bharat, coupled with measures that will drive sustainable yet inclusive growth at a rapid pace.

In Finance Minister Nirmala Sitharaman's budget, relief in income tax was expected to be the protagonist.

Budget 2023: Prime Minister Narendra Modi wooed hundreds of millions of middle class voters and women with incentives such as tax rebates and savings plans to ensure their backing in national elections next year.

The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages.

To promote the cooperative sector, the government on Wednesday announced a slew of measures, including a concessional tax of 15 per cent to promote new societies focusing on manufacturing and a higher limit of Rs 3 crore for TDS on cash withdrawal.

Delhi Chief Minister Arvind Kejriwal on Wednesday said despite paying more than Rs 1.75 lakh crore income tax last year, the city was allocated only Rs 325 crore in the Union Budget 2023-24.

Central Board of Direct Taxes (CBDT) chairman Nitin Gupta has said that he expects at least 50-66 per cent (two-thirds) of the taxpayers to switch over to the new tax regime in the next financial year itself.

"It is election time," Bihar Chief Minister Nitish Kumar said, sarcastically, on Thursday when asked if the Union Budget's proposal to raise the personal income tax rebate limit would bring relief to the middle class.

The new tax regime has been made the default system for everyone. The old tax regime will be available on request, the finance minister announced

There is a rebate that is available under Section 87A of the Income Tax Act. This reduces the tax that you have to pay if the taxable income is below a certain limit.

The government on Wednesday projected a 10.5 per cent growth in revenues from corporate and individual income tax to Rs 18.23 lakh crore in the next fiscal.

The Union Budget on Wednesday proposed removing the exemption from paying income tax by news agencies.

In the last full Budget before Prime Minister Narendra Modi seeks a third term, the government Wednesday unveiled a slew of measures aimed at appeasing India's middle class.

Finance Minister Nirmala Sitharaman today announced big relief for taxpayers and a mega push for capital spending and infrastructure as she unveiled the government's last Budget before the 2024 national election.

Finance Minister Nirmala Sitharaman on Wednesday said the government has made the new income tax regime more attractive for taxpayers and has thus brought about 'substantial changes' in its structure for the benefit of the middle class.

Automotive Component Manufacturers Association President Sunjay J Kapur said the budget is a blueprint of a digitally enabled Aatmanirbhar Bharat, coupled with measures that will drive sustainable yet inclusive growth at a rapid pace.

In Finance Minister Nirmala Sitharaman's budget, relief in income tax was expected to be the protagonist.

Budget 2023: Prime Minister Narendra Modi wooed hundreds of millions of middle class voters and women with incentives such as tax rebates and savings plans to ensure their backing in national elections next year.

The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages.

To promote the cooperative sector, the government on Wednesday announced a slew of measures, including a concessional tax of 15 per cent to promote new societies focusing on manufacturing and a higher limit of Rs 3 crore for TDS on cash withdrawal.

Delhi Chief Minister Arvind Kejriwal on Wednesday said despite paying more than Rs 1.75 lakh crore income tax last year, the city was allocated only Rs 325 crore in the Union Budget 2023-24.