Budget 2024

It is time India started indexing tax slabs and exemptions with inflation

TheSpuzz Desk4 days ago07 mins

Source: Live Mint NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. The personal income tax collection (excluding securities transaction tax) stood at ₹4,52,286 crore in April-August 2024-25, up 25.5% from ₹3,60,381 crore in the year-ago period. Hopefully, it should lead to…

Stock market news: This income tax rule to be implemented next month | Mint

TheSpuzz Desk2 months ago05 mins

Source: Live Mint Starting October 1, 2024, significant changes will be implemented in the taxation of share buybacks, shifting the tax burden from companies to shareholders. Companies are taxed at 23.296 per cent on buyback transactions, covering surcharges and cess, while shareholders face no tax on the buyback proceeds. Under the new rules, buyback proceeds…

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It is time India started indexing tax slabs and exemptions with inflation