Dividend options regain traction among mutual fund investors on income tax relief
Mutual fund investors are increasingly opting for the dividend option due to income tax relief of ₹12 lakh provided under the new tax regime.
Tag: New Income tax regime
New Income Tax Bill Unlikely To Be Introduced In Budget 2025: Report
The Finance Ministry is reportedly unlikely to introduce the new Income-Tax Bill during the Budget 2025 session of Parliament. Finance…
Income Tax Act Review Put On Fast-Track With January Deadline
The revenue department in the Finance Ministry is seeking to fast-track the comprehensive review of the Income-Tax Act 1961, as it aims to complete it by January, ahead of the Union Budget in the following month, officials privy to the discussion said.
CBDT forms committee to review Income Tax Act, will eliminate ‘sunset’ clauses
An internal committee under the CBDT has been established to review the Income Tax Act of 1961. The committee will be led by VK Gupta, Chief Commissioner of Income Tax.
Panel report on I-T Act rejig by December
The finance ministry has set up a five-member committee to revamp the Income Tax Act, 1961, an official source said, adding the panel is expected to finalise its report by December.
New Tax Code To Replace Six-Decade-Old Income Tax Act Within Six Months: Sitharaman
Union Finance Minister Nirmala Sitharaman has announced that a new tax code or Income Tax Act will be introduced within the next six months to replace the current Income Tax Act of 1961.
Govt should allow salaried employees to choose tax regime for TDS on salary again for FY2024-25
The government changed the income tax laws under the new tax regime in the July 2024 Budget, increasing its attractiveness compared to the old tax regime.
10 big income tax rule changes from 1 April 2023 for taxpayers: Details here
There are many changes in the income tax rules effective from this financial year. Changes in income tax slabs to…
Income Tax Calculator – old regime vs new regime
Income tax portal has published a income tax calculator to show tax saving in new regime. https://incometaxindia.gov.in/Pages/tools/115bac-tax-calculator-finance-bill-2023.aspx
Govt. considers Reducing Tax Rates to Make New Direct Tax Regime More Attractive: Sources
1. Finance Ministry considers reducing tax rates to make new direct tax regime more attractive. 2. Govt. likely to reduce…