A higher tax exemption limit, a revamped central KYC system and the govt’s greater emphasis towards ‘ease of doing business’ in an expected lower interest rate regime are likely to boost investments into mutual funds, directly or through the systematic investment plan (SIP) route, fund industry players said.“The rollout of the revamped Central KYC registry…
The new tax regime proposed in Budget – with a tax rebate of Rs 60,000 on income up to Rs 12 lakh (and Rs 12.75 lakh for salaried people) – leaves the old tax regime, with three slabs of 5%, 20%, an 30%, with little appeal, even with all the deductions against investments in tax…
NEW DELHI: Finance minister Nirmala Sitharaman on Saturday gave a big relief to the middle class as she announced zero income tax for up to Rs 12 lakh under the new tax regime.For salaried employees, this nil tax limit will be Rs 12.75 lakh per annum, after taking into account a standard deduction of Rs…
Latest Income Tax Slabs FY 2025-26 Latest income tax slabs FY 2025-26: Finance Minister Nirmala Sitharaman announced sweeping changes in the new income tax regime, announcing revamped income tax slabs and income tax rates for the salaried taxpayers, individual taxpayers, common man and middle class. The biggest announcement was that people earning up to Rs…
Budget 2025 income tax: It is anticipated that with the thrust of the Government on the adoption of the new tax regime, there may be no changes to the old tax regime. (AI image) By Parizad SirwallaBudget 2025 income tax expectations: Ever since the last Union Budget was presented in July 2024, the world has…
Budget 2025 income tax: According to government data, the new income tax regime has gained substantial acceptance. (AI image) Budget 2025 income tax expectations: Individual and salaried taxpayers want Finance Minister Nirmala Sitharaman to lower the personal tax rates, according to a Grant Thornton Bharat pre-budget survey for Budget 2025.The survey findings indicate that individual…
Latest income tax slabs FY 2024-25: Finance Minister Nirmala Sitharaman has changed the income tax slabs effective FY 2024-25 under the new income tax regime as announced in Budget 2024. The standard deduction under the new income tax regime has also been hiked from the present Rs 50,000 to Rs 75,000. According to FM Nirmala…
Income Tax Expectations Budget 2024: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on July 23, 2024 and the Budget is being looked at for relief to salaried, middle class taxpayers and also the common man. What can you expect from the Modi 3.0 government’s Budget 2024? What are the top expectations from…
By Parizad SirwallaBudget 2024 income tax expectations: The Finance Minister (FM) will present the full Union Budget for Financial Year (FY) 2024-25 in Parliament on July 23rd. The Budget is of significant interest to individual taxpayers as they have a long wish list of the desired announcements on the personal tax front from the newly…
New Versus Old Tax Regime: Salaried taxpayers have a crucial decision to make in the next 10 days regarding their income tax regime for the current financial year 2024-25. Companies are urging employees to choose the tax structure for 2024-25 at the beginning of the new financial year.This choice is a one-time decision for taxpayers,…
