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Source: Live Mint Union Minister Finance Minister Nirmala Sitharaman presented the new Income Tax Bill 2025 in the Lok Sabha on Thursday, February 2025. The proposed bill aims to eliminate intricate language in the existing Act, remove redundant and repetitive provisions, and logically reorganise sections, according to the Finance Ministry. FM Nirmala Sitharaman urged Lok…
Source: Live Mint The bill is culmination of amendments incorporated in successive budgets since the idea of a Direct Tax Code 2010 was floated in 2009. It aims to maintain relative stability in the well understood provisions of existing income-tax law while simplifying it after a comprehensive review making it “concise, lucid, easy to read…
Source: Live Mint New Income Tax Bill 2025: The simplified Income Tax Bill, half the size of the 1961 Income Tax Act, seeks to achieve tax certainty by minimising the scope of litigation and fresh interpretation, said the Income Tax (I-T) department on Thursday, February 13. According to the I-T department, the tax bill aims…
Source: Live Mint If you are planning to raise a personal loan or applying for a credit card, remember that the lender would assess your credit score to determine your creditworthiness. A credit score, as you would know, is a three digit number that shows the creditworthiness of the borrower based on your credit history. It…
Source: Live Mint The answer isn’t straightforward. While Mr. A has the choice to opt out, Mr. B doesn’t—thanks to the rules governing EPF eligibility. The fine print of opting out Most new employees can opt out of EPF if their basic salary, as defined by the EPF Act, exceeds ₹15,000 per month. However, those…
Source: Live Mint In the last few months, many banks have reduced the benefits of their credit card rewards program and introduced fees for transactions in specified categories like rent, education fees, utilities, etc. They also have a long list of exclusions for earning reward points, and the list is steadily increasing. However, American Express…
Source: Live Mint I am 65 years old. I retired from a private job and live with my wife in Delhi. My primary source of income is earnings from the stock market and fixed deposits. Can a pension plan help me optimize my tax-adjusted returns compared to a mutual fund or fixed deposit? -Name withheld…
Source: Live Mint Income Tax Bill 2025: Finance Minister Nirmala Sitharaman tabled the new direct tax code or the Income Tax Bill 2025 in Lok Sabha on Thursday. The Income Tax Bill, 2025, will now be referred to Select Committee of Lok Sabha for further review. The Lok Sabha proceedings have been adjourned till March…
Source: Live Mint Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday, 13 February. The much-anticipated new Bill will replace terminology like assessment and the previous year with the easier-to-understand ‘tax year’ as part of a move to simplify language while removing provisos and explanations. The bill is…
Source: Live Mint To navigate the world of credit cards and loans in India it is important to understand your credit score. It is a three digit number that represents your creditworthiness, thus influencing loan eligibility and interest rates. Still, with multiple credit bureaus and scoring models this can be confusing. Types of credit scores…
