Finance Minister Nirmala Sitharaman urged the Lok Sabha Speaker to refer the Income Tax Bill, 2025, to the Select Committee ...

In the Budget 2025, there have been new income tax slabs introduced in the new tax system. Finance Minister Nirmala ...

The finance ministry said the rebate for individuals under the new regime should be increased so that they do not pay tax if their total income is up to ₹ 12 lakh.

Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs ...

The simplification of rules will help taxpayers easily file their income tax returns without any calculation as they can claim the value of any two houses as zero. The deemed calculation of house will ...

Budget 2025 LIVE: In a major boost for middle-class taxpayers, Finance Minister Nirmala Sitharaman, in the Union Budget 2025, ...

The new bill seeks to streamline terminology in tax calculations by introducing the term 'tax year' to replace 'financial year' and 'assessment year'. This term will denote the period during which an ...

As per existing provisions (Clause (ii) of Explanation 1) in section 153 of the Income Tax Act,1961 following period shall be excluded in computation of time limits in respective sections: – “the ...

Gifting is a heartfelt way to express love and affection towards our dear ones. In 1958 by Parliament of India, the gift tax ...