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Source: Live Mint Income Tax Bill News LIVE: The Union Cabinet has approved the new Income Tax Bill on Friday, February 7, potentially leading to its introduction in the Lok Sabha early next week. This bill is part of a larger effort to reform the tax system and aims to overhaul the existing tax structure…
Source: Live Mint However, the relaxations have reduced the tax advantages of equity investments for small and medium investors, especially those with annual incomes of up to ₹24 lakh. Historically, investors often chose equity investments like arbitrage funds and hybrid funds like balanced advantage funds for their preferential tax treatment compared to regular income. The…
Source: Live Mint Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital gain, should we take the market value as of 2003 (date of inheritance) or the market value as of 2010 (date…
Source: Live Mint In Budget 2025, Finance Minister Nirmala Sitharaman revised the income slabs under the new tax regime, thus offering relief to the middle-class taxpayers. Now, there is no income tax payable for those earning up to ₹12 lakh. However, if you have seen the tax slabs, you must have noticed that there is…
Source: Live Mint In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small taxpayers were – until then – accustomed to claiming exemptions and deductions against the investments they made during the financial…
Source: Live Mint An important piece of law – encapsulating 298 sections – which determines the major sources of income for the fifth largest economy in the world was passed in 1961. In the next 64 years, the Income Tax Act has undergone a flurry of changes almost every year. From tweaks in the tax rates…
Source: Live Mint Micro, Small and Medium Enterprises (MSMEs) have been provided with new credit cards in the Budget 2025 by the Finance Minister Nirmala Sitharaman. This is considered as a significant financial change as per experts, according to a detailed report by ANI. MSME credit card scheme Announced to the citizens during the budget speech…
Source: Live Mint Union Budget 2025: Finance Minister of India Nirmala Sitharaman recently announced Grameen credit score scheme. This is a framework evolved to help Self Help Groups (SHGs) and the citizens in rural India. The primary responsibility of developing this scheme is going to be enshrined in the Indian public sector banking system. The details…
Source: Live Mint Finance Minister Nirmala Sitharaman announced on Saturday that Indians with incomes up to ₹12 lakh will effectively pay no income tax. They still need to pay the tax, but will receive a rebate (refund) of ₹60,000 under Section 87A of the Income Tax Act. However, certain types of income, including capital gains…
Source: Live Mint Stock Market Outlook: Brokerage house Emkay Global Financial Services, in its latest India Strategy Report, projected that the Nifty index is likely to attain the 25,000 level by December 2025. The brokerage attributed this optimism to fiscal stimulus through tax cuts in the FY26 Union Budget, which is expected to support consumption…
