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Source: Live Mint Budget 2025 introduced a number of changes including the new tax slab rates under the new tax regime wherein taxpayers are not supposed to pay any income tax up to ₹12 lakh a year. This has undoubtedly made the new tax regime quite tempting for the middle-class taxpayers. In FY 2023-24, around 74 percent…
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 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 Thanks to Budget 2025, new tax regime has become even more lucrative now. With no income tax for those who earn up to ₹12 lakh a year, taxpayers have one more reason to abandon choose new regime over old tax regime. This means more and more taxpayers will now choose the new…
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…
Source: Live Mint In the Union Budget 2025, Finance Minister Nirmala Sitharaman mentioned that the ‘nil income tax’ slab would be raised to ₹12 lakh; however, it is often misunderstood as a tax exemption or tax deduction. Here’s what it really means. What did FM Nirmala Sitharaman say? “To taxpayers up to Rs12 lakh of…
Source: Live Mint Union Budget 2025: The budget has introduced immense clarity on the tax treatment of the Unit Linked Insurance Policies. Specifically those ULIP’s that don’t fall or qualify for the exemptions provided under Section Section 10(10D) of the Income Tax Act. What are ULIPs? A Unit Linked Insurance Plan (ULIP) joins investment and…
Source: Live Mint Did you miss reporting a particular income while filing your income tax return (ITR) a few years ago — say three years ago? You do not need to fret over this anymore since you can file a fresh tax return under the head of ITR(U) to report that unreported income and pay the…
Source: Live Mint I applied for Portugal Golden Visa with my children’s education in mind. I was been granted one and now live in Portugal where I have my own business. Since I’m an Indian citizen, how will my NPS annuity be taxed in India? Will it change if I apply for Portuguese citizenship in…
Source: Live Mint Budget Technical Outlook: The Indian stock market faced sharp losses in early trade on Monday, February 3, with the Sensex tumbling over 700 points and the Nifty 50 dropping below 23,250, amid weak global cues. The Sensex fell 750 points to hit an intraday low of 76,791.09. Similarly, the Nifty 50 also…
