Page 27 - Latest Updates on Income tax
Govt mulls modified valuation norms for taxing foreign investments in cos
The Department is likely to come out with modified valuation rules under the I-T Act for ascertaining FMV of shares of unlisted companies for the purpose of levying tax on non-resident investments
 "Govt mulls modified valuation norms for taxing foreign investments in cos")
New tax regime to benefit middle class; leave more money in their hands: FM
She said it is not necessary to induce individuals to invest through government schemes but give him an opportunity to make a personal decision regarding investments
 "New tax regime to benefit middle class; leave more money in their hands: FM")
Customs duty cut, I-T slab rejig to boost consumer durable stocks: Analysts
With revised customs duty across consumer electronics' manufacturers, analysts believe this measure would reduce costs for manufacturing mobile phones, TV panels, and kitchen chimneys
 "Customs duty cut, I-T slab rejig to boost consumer durable stocks: Analysts")
New tax regime to leave higher disposable income with people: Sitharaman
The Union Budget 2023-24, astutely balances the requirement for India's development imperatives within the limit of fiscal prudence, Finance Minister Nirmala Sitharaman tells Lok Sabha
 "New tax regime to leave higher disposable income with people: Sitharaman")
New and old: How two tax regimes work for home loan interest benefit
You can benefit under the new tax regime but there are a few caveats
 "New and old: How two tax regimes work for home loan interest benefit")
From savings to spending: What new IT rules tell us about govt's intentions
The new IT regime will be the default one but those tax payers wanting to continue with the old one can still do so
 "From savings to spending: What new IT rules tell us about govt's intentions")
Trustees will be liable in case of non-payment of exit tax: CBDT chief
CBDT chief says there's no reason to provide differential treatment for filing I-T returns
 "Trustees will be liable in case of non-payment of exit tax: CBDT chief")
Govt expects 'fabulous' response to revamped I-T regime: CBDT chief
The 2023-24 Budget has proposed changes to the new optional tax regime which provides that no tax would be levied on annual income of up to Rs 7 lakh
 "Govt expects 'fabulous' response to revamped I-T regime: CBDT chief")
Budget 2023: New tax regime (II) can help you save more in taxes
But high-income individuals who avail of a variety of deductions will still prefer the old regime
 "Budget 2023: New tax regime (II) can help you save more in taxes")
Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023
Our equity strategists view the budget as positive for infrastructure and capex-sensitive sectors, says Goldman Sachs
 "Capex push, tax rationalisation: Brokerages give a thumbs-up to Budget 2023")
Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST
Budget 2023: The Centre has also made a distinction between 'games of skill' and 'games of chance' in the Finance Bill, signalling that both might get a separate tax structure in future
 "Budget 2023: Gaming industry welcomes TDS change, awaits clarity on GST")
Old income tax regime vs new income tax regime: Which one is better?
New income tax regime: The taxpayers can avail of several deductions under the old income tax regime using section 80C etc. But under the new tax regime, no such deductions are allowed
 "Old income tax regime vs new income tax regime: Which one is better?")
Rebates to slabs: Budget's key changes in Income Tax regime explained
This move indicates that the old regime will slowly be wound up
 "Rebates to slabs: Budget's key changes in Income Tax regime explained")
Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
 "Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?")
Push for new income-tax regime: Pain points & what's on offer in Budget
India's taxation rates had been higher than others like the US or Brazil, though lower than other peers
 "Push for new income-tax regime: Pain points & what's on offer in Budget")
From capex outlay to tax slab rejig, seven big wins from the Budget
The government's focus on ease of doing business and the expanded corpus for the credit guarantee scheme will mean MSMEs have a lot to gain from this Budget
 "From capex outlay to tax slab rejig, seven big wins from the Budget")
Want to make exemption-free tax regime attractive for people: FM Sitharaman
Sitharaman said large macroeconomic considerations had been kept in mind, and fiscal consolidation had not been ignored
A change of heart on taxes and tariffs
There is much to commend in the Budget, especially the substantial increase in capital expenditure
'Reward the rich' politics
With a 10% tax cut for the super-rich, has the Modi government lost it? If this is what we believe, we are still caught in oldthink in our political economy
Budget 2023-24: Relief to middle class set to spur private consumption
The government plans to collect just over Rs 9 trillion via personal income tax in FY24