Income Tax Reform
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New Income Tax Rules Take Effect April 1: What Taxpayers Need To Know
Key changes include easier language, streamlined ITR forms, the introduction of a clear "Tax Year" concept, and reduced ambiguity in provisions.
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'India Proved Doubters Wrong...': IMF Chief's Praise In Global Economy Meet
IMF chief Kristalina Georgieva praised India's 'bold economic and structural reforms' - from revised direct and indirect tax laws to the mass rollout of a digital payments ecosystem - on the first day of a meeting of world financial leaders.
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After PM Modi's GST Utsav Call, M Kharge's "Band-Aid On Deep Wounds" Jab
Prime Minister Narendra Modi today termed the lowering of Goods and Services Tax (GST) rates as the beginning of "GST Utsav", presenting the reforms as a "double bonanza" to households already benefitting from recent income tax exemptions.
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Britain's Reform Party Makes 'Britannia Card' Policy To Appease The Rich
Britain's populist Reform UK party unveiled plans to offer wealthy, often foreign newcomers a "Britannia Card" to gain exemption from tax on international wealth, income or gains for 10 years for a one-off payment.
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Opinion | Budget 2025: What's Better Than Reforms? Execution
The success of the Centre's ambitious measures under Union Budget 2025 will depend on swift and effective implementation. Reforms that remain on paper do little to improve economic efficiency or investor confidence.
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Union Budget 2025: What Budget May Bring For Individuals? An Expert View
The Union Budget 2025, set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, is highly anticipated by individual taxpayers, who are hoping for tax reforms that will increase their disposable income and stimulate economic gro
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Union Budget 2025: Tax Deduction Terms You Should Know Ahead Of Budget
Tax Deductions: A tax deduction is an expense or expenditure that can be subtracted from an individual's or business's total income, resulting in a lower taxable income.
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South Korea Delays Levying 20 Percent Crypto Tax By Three Years
South Korea has decided to delay the imposition of a 20 percent tax on crypto earnings till 2025. The announcement was made as part of the nation’s 2022 tax reform plan on Thursday, July 21. Seoul’s initial plan to levy a 20 percent tax on yearly crypto gains exceeding $1,900 (roughly Rs. 1.50 lakh), however, remains unchanged.
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After Supreme Court Rap, Centre's Notification On Tribunals Appointments
The government on Thursday issued a notification regarding rules for appointments to 12 tribunals, or quasi-judicial bodies, in various fields, including the Income Tax Appellate Tribunal and the National Company Law Tribunal.
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Centre Clears Appointments To Tribunals After Supreme Court's Ultimatum
Five days after Supreme Court expressed its displeasure over the way the Centre had enacted Tribunals Reforms Act, Centre cleared the appointment of judicial and technical members to National Company Law Tribunal and Income Tax Appellate Tribunals.
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Budget 2020: What's In It For You
Finance Minister Nirmala Sitharaman's Budget speech today hovered broadly on a handful of themes, some of which include ease of living, structural reforms, digital revolution and inclusive growth. Her Budget speech - the second in less than a year - was also the longest in India's history at two hours and 41 minutes, beating her own record of last ...
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India To Be High Middle Income Economy In 30 Years: World Bank CEO
Days after India jumped 30 places in the World Bank's ease of doing business ranking, its CEO Kristalina Georgieva today said the Goods and Services Tax (GST) and reforms push by the government will catapult the country to high middle income economy by 2047.
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Shaking Up Elections, Corporate Tax: What India's 3-Year Plan Looks Like
Any talk of taxing farm incomes turned out to be a political hot potato but NITI Aayog's three-year action agenda - discussed between Prime Minister Narendra Modi and the Chief Ministers last week - has set out several ambitious goals.
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No Income Tax For Saudi Citizens, Says Minister As Reforms Raise Concerns
Saudi Arabia's finance minister said on Sunday that citizens would not pay taxes on income and Saudi companies would not see their profits taxed under sweeping economic reforms being introduced in the oil-rich kingdom.
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How Much Black Money, Asks Opposition As Notes Ban Data Still Missing
The opposition has criticised the centre for not releasing data on how much of the banned 500 and 1,000 notes are back in the banking system, eight days after the deadline to deposit old notes in banks expired.
-
New Income Tax Rules Take Effect April 1: What Taxpayers Need To Know
Key changes include easier language, streamlined ITR forms, the introduction of a clear "Tax Year" concept, and reduced ambiguity in provisions.
-
'India Proved Doubters Wrong...': IMF Chief's Praise In Global Economy Meet
IMF chief Kristalina Georgieva praised India's 'bold economic and structural reforms' - from revised direct and indirect tax laws to the mass rollout of a digital payments ecosystem - on the first day of a meeting of world financial leaders.
-
After PM Modi's GST Utsav Call, M Kharge's "Band-Aid On Deep Wounds" Jab
Prime Minister Narendra Modi today termed the lowering of Goods and Services Tax (GST) rates as the beginning of "GST Utsav", presenting the reforms as a "double bonanza" to households already benefitting from recent income tax exemptions.
-
Britain's Reform Party Makes 'Britannia Card' Policy To Appease The Rich
Britain's populist Reform UK party unveiled plans to offer wealthy, often foreign newcomers a "Britannia Card" to gain exemption from tax on international wealth, income or gains for 10 years for a one-off payment.
-
Opinion | Budget 2025: What's Better Than Reforms? Execution
The success of the Centre's ambitious measures under Union Budget 2025 will depend on swift and effective implementation. Reforms that remain on paper do little to improve economic efficiency or investor confidence.
-
Union Budget 2025: What Budget May Bring For Individuals? An Expert View
The Union Budget 2025, set to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, is highly anticipated by individual taxpayers, who are hoping for tax reforms that will increase their disposable income and stimulate economic gro
-
Union Budget 2025: Tax Deduction Terms You Should Know Ahead Of Budget
Tax Deductions: A tax deduction is an expense or expenditure that can be subtracted from an individual's or business's total income, resulting in a lower taxable income.
-
South Korea Delays Levying 20 Percent Crypto Tax By Three Years
South Korea has decided to delay the imposition of a 20 percent tax on crypto earnings till 2025. The announcement was made as part of the nation’s 2022 tax reform plan on Thursday, July 21. Seoul’s initial plan to levy a 20 percent tax on yearly crypto gains exceeding $1,900 (roughly Rs. 1.50 lakh), however, remains unchanged.
-
After Supreme Court Rap, Centre's Notification On Tribunals Appointments
The government on Thursday issued a notification regarding rules for appointments to 12 tribunals, or quasi-judicial bodies, in various fields, including the Income Tax Appellate Tribunal and the National Company Law Tribunal.
-
Centre Clears Appointments To Tribunals After Supreme Court's Ultimatum
Five days after Supreme Court expressed its displeasure over the way the Centre had enacted Tribunals Reforms Act, Centre cleared the appointment of judicial and technical members to National Company Law Tribunal and Income Tax Appellate Tribunals.
-
Budget 2020: What's In It For You
Finance Minister Nirmala Sitharaman's Budget speech today hovered broadly on a handful of themes, some of which include ease of living, structural reforms, digital revolution and inclusive growth. Her Budget speech - the second in less than a year - was also the longest in India's history at two hours and 41 minutes, beating her own record of last ...
-
India To Be High Middle Income Economy In 30 Years: World Bank CEO
Days after India jumped 30 places in the World Bank's ease of doing business ranking, its CEO Kristalina Georgieva today said the Goods and Services Tax (GST) and reforms push by the government will catapult the country to high middle income economy by 2047.
-
Shaking Up Elections, Corporate Tax: What India's 3-Year Plan Looks Like
Any talk of taxing farm incomes turned out to be a political hot potato but NITI Aayog's three-year action agenda - discussed between Prime Minister Narendra Modi and the Chief Ministers last week - has set out several ambitious goals.
-
No Income Tax For Saudi Citizens, Says Minister As Reforms Raise Concerns
Saudi Arabia's finance minister said on Sunday that citizens would not pay taxes on income and Saudi companies would not see their profits taxed under sweeping economic reforms being introduced in the oil-rich kingdom.
-
How Much Black Money, Asks Opposition As Notes Ban Data Still Missing
The opposition has criticised the centre for not releasing data on how much of the banned 500 and 1,000 notes are back in the banking system, eight days after the deadline to deposit old notes in banks expired.
