What is new Income Tax Bill announced by Finance Minister Nirmala Sitharaman and why it will replace the Income Tax Act
The new income tax bill received clearance from the Union Cabinet last week. Soon, the FM will likely table the same in the Parliament. The new income tax bill, once passed by the Parliament, will ...
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Income tax rates for individuals
These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...
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Do I qualify for the Earned Income Tax Credit?
The Earned Income Tax Credit (EITC) was signed into law and is designed to “lift many financially challenged families out of ...
Social Security Bill Could See End to 'Double Tax' on Recipients
A bill brought to the House of Representatives by Republican lawmakers would amend the tax code to remove taxes on Social ...
Budget 2025: Why the rebate under Section 87A is groundbreaker for taxpayers. Here's what it means
In accordance with the proposed Finance Bill 2025, the rebate under Section 87A is now applicable up to a total income of Rs ...
Capital Gains Tax: The government's share of your profit from property, shares, mutual funds and more
Whether you’re selling shares or a family property, knowing how capital gains tax works can help you keep more of your ...
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15 Self-Employment Tax Deductions to Know
Deductions, also sometimes called tax write-offs, are eligible expenses that you can deduct on your return to lower the amount of income that gets taxed. There are many valuable self-employment ...
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section 54EC
Exemption Under Section 54EC of Income Tax Act, 1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place Finance: Understand real estate tax changes post-Budget 2024 ...
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Budget 2025: Income Tax Cut Likely; Know Tax Deductions Available Under Old Tax Regime For FY25
“The new Income Tax law will be introduced in the Budget session of Parliament. It will be a new law and not an amendment to the existing Act. Currently, the draft law is being vetted by the law ...
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Budget 2025: Govt May Introduce New Income Tax Bill To Simplify I-T Law; All You Need To Know
“The new Income Tax law will be introduced in the Budget session of Parliament. It will be a new law and not an amendment to the existing Act. Currently, the draft law is being vetted by the law ...
India Today20d
Budget 2025: Will government introduce direct tax code to replace Income Tax Act?
The Income Tax Department has received more than 6,500 suggestions from stakeholders to streamline the law. A CBDT led committee is working on removing outdated provisions and easing compliance ...
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Union Budget 2025: Will Nirmala Sitharaman Replace Income Tax Act With Direct Tax Code?
Will Finance Minister Nirmala Sitharaman replace the present Income Tax Act with the Direct Tax Code? As the country is gearing up for Union Budget 2025, businesses, individuals and all other ...