Reader Friendly, Tables For Calculation Among Key Features Of New Income Tax Bill
The simplified Income Tax Bill 2025, which brings in the concept of 'tax year' and abolishes the archaic and complicated ...
New Income Tax Bill: From 'tax year' to special provision for capital gains computation, what's new?
Finance Minister Nirmala Sitharaman urged the Lok Sabha Speaker to refer the Income Tax Bill, 2025, to the Select Committee ...
Tax calculations: Taxable income vs gross income vs net income - know how to calculate your actual tax outgo
In the Budget 2025, there have been new income tax slabs introduced in the new tax system. Finance Minister Nirmala ...
Income Tax Bill 2025: Will your salary, income earned from April 2025 be taxed as per the Income Tax Act 1961 or new bill?
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 ...
HMRC issues warning to anyone who receives letter in the post in coming weeks
The letters are typically sent out between June and March and declare if you are due a refund or need to pay more tax ...
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Tax Tips: Tax exemption on income of ₹ 12 lakh is a rebate and not an exemption, what is the difference between the two?
The central government has given a big relief to the employed citizens in this year's budget. Income up to Rs 12 lakh has ...
Understanding Gift Tax In India In 2025 – Rules, Exemptions, Tax Calculation
Gifting is a heartfelt way to express love and affection towards our dear ones. In 1958 by Parliament of India, the gift tax ...
10 takeaways in new Income Tax Bill for taxpayers: Tax year, TDS compliance, number of sections and more
The Income Tax Act 2025 will replace the current Income Tax Act 1961. As the current income tax laws will change, many ...
HMRC warns thousands of Brits will be sent letters in the next 12 months
Taxpayers are being cautioned that they might soon receive a letter from HMRC, known as Simple Assessment Letters or Tax ...
HMRC to send letters to millions of households with '60 days to appeal'
For more details on how to check your simple assessment tax bill, visit the government website. If you disagree with the ...
HMRC letters posted out to UK households who may owe tax with '60 days to appeal'
It is used as an alternative to self assessment, where you would need to fill in a tax return, if HMRC cannot collect the tax ...