The FinTech Hub
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 recently announced budget introduced significant personal finance changes impacting taxpayers and investors. One of the key updates involved Unit Linked Insurance Plans (ULIPs). It has been clarified by the Finance Ministry that if the annual premium exceeds ₹2.5 lakhs the redemption becomes subject to capital gains tax. ULIPs that are held for…
Source: Live Mint The Union Budget’s announcement of the new ₹12,00,000 tax slab has created quite a buzz, bringing cheer to many taxpayers. Alongside this, several tax rule changes are set to reshape personal finances. TCS rates on foreign trips, education loans, and other remittances have been simplified, offering some relief. From take-home salary adjustments…
Source: Live Mint Budget 2025 has moved in a path that at once caters to the immediate requirements of the economy, while continuing on the path to investing for future growth, even while ensuring a tight leash on the fiscal deficit. Tax slab rationalisation to boost consumption, ease of taxation via higher thresholds for tax…
Source: Live Mint The Union Budget 2025-26 did not introduce any significant relief for cryptocurrency investors, maintaining the 30 per cent tax on crypto gains and the 1 per cent TDS on transactions. However, Finance Minister Nirmala Sitharaman proposed an amendment to the Income Tax Act, mandating that a designated reporting entity disclose transaction details…
Source: Live Mint In addition to lowering income tax payable by individuals, Budget 2025 gave citizens relief by raising the threshold for tax deducted at source (TDS) and removing conditions on declaring a second house as self-occupied for tax purposes. The changes on TDS will benefit senior citizens as the paperwork they need to complete…
Source: Live Mint The Union Budget 2025 is just around the corner, and taxpayers are keeping a close watch. Over the years, the middle class has shouldered a big part of the tax burden, with individual tax collections doubling from ₹4.8 lakh crore in FY21 to ₹10.4 lakh crore in FY24. This year, many are…
Source: Live Mint Budget 2023 introduced a 10% tax deducted at source (TDS) on coupon payments from listed bonds. While the intention was to ensure tax compliance, it created unforeseen complications for individuals—especially small investors and retirees who rely on predictable coupon income. TDS is a system that collects tax at the source of income…
Source: Live Mint I am a resident Indian promoter of an Indian private limited company that manufactures and exports antique furniture. In 2015, my company allotted a small percentage of shares to a non-resident individual who assisted in securing export orders. I am now buying back his shares in my company. Will the payment made…
Source: Live Mint We are purchasing a property from an NRI, and the registration is scheduled for next week. As per the requirements, we need to deduct and deposit the TDS for this transaction, for which one needs to have a TAN (Tax Deduction Account Number). We do not have a TAN. Is there any…
