Page 7 - Latest Updates on Income tax
'Bihar bias, ignored key sectors': P Chidambaram slams Union Budget 2025
Former Finance Minister P Chidambaram accused the government of favouring taxpayers and voters in Bihar in Union Budget 2025
 "'Bihar bias, ignored key sectors': P Chidambaram slams Union Budget 2025")
Best of BS Opinion: India's Budget menu: Bold flavours or comfort food?
Our Editorial comment and columnists dissect the Union Budget 2025 to see what makes it tick, and what doesn't
 "Best of BS Opinion: India's Budget menu: Bold flavours or comfort food?")
Charting a new growth path: New tax regime eases middle-class burden
Share of middle class in income tax increased till 2023-24 while TDS has been rationalised by reducing the number of rates and adjusting threshold limits
 "Charting a new growth path: New tax regime eases middle-class burden")
Union Budget 2025-26: A blueprint for sustainability and certainty
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates
 "Union Budget 2025-26: A blueprint for sustainability and certainty")
Noble intentions, but questions remain: Budget's allocations fall short
This was an opportune moment to get rid of the old tax system entirely and move fully to the new one. A broad-based, low-rated, and less differentiated tax structure is the need of the hour
Of tax relief, transparency and promises: A Budget focused on clarity
The regret about this Budget is that it once again shies away from renewing its commitment to strategic disinvestment
 "Of tax relief, transparency and promises: A Budget focused on clarity")
Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh
Old tax system remains unchanged
 "Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh")
Budget boost for AIFs: Securities reclassified as capital assets
Securities sales to attract capital gains tax, not business income tax
 "Budget boost for AIFs: Securities reclassified as capital assets")
Here's how income tax rate tweaks will boost middle class spending
India's economic growth is expected to slow to a four-year low this fiscal year due to weak demand, particularly in urban areas where the cost of living has soared
 "Here's how income tax rate tweaks will boost middle class spending")
Budget 2025: FM Sitharaman's tax rebate decision sparks meme-fest online
Budget 2025: Stills from movies like Krrish, Welcome, and television series were being shared widely to encapsulate the sentiment of the taxpayers
 "Budget 2025: FM Sitharaman's tax rebate decision sparks meme-fest online")
Transformative direct tax reforms in Budget 2025 for middle class empowerment
The reforms are part of the Government's broader strategy to stimulate consumption, enhance ease of doing business and boosting economic growth
 "Transformative direct tax reforms in Budget 2025 for middle class empowerment")
Tax bonanza: What Budget 2025 means for India's beleaguered middle-class
No tax on income up to ₹12 lakh, revised tax slabs, senior citizen benefits, and homeowner relief announced by FM Nirmala Sitharaman to ease the financial burden on the middle-class
 "Tax bonanza: What Budget 2025 means for India's beleaguered middle-class")
Tax relief for middle-class and big gifts for Bihar: Budget 2025 highlights
Budget 2025 revises FY25 capex, promises incentives for EVs, social security for gig workers, and major infrastructure projects in Bihar, including a greenfield airport and a Makhana Board
Budget 2025: Nirmala Sitharaman to unveil new Income Tax Bill next week
Sitharaman reiterated the Finance Ministry's commitment to a taxpayer-friendly approach, stating, "The tax department will trust first, scrutinise later," as she announced the upcoming income tax code
 "Budget 2025: Nirmala Sitharaman to unveil new Income Tax Bill next week")
Budget 2025: Will middle-class gain relief with tax slabs from Rs 5 lakh?
Budget 2025 expectations: This year, speculation revolves around whether tax slabs will be altered or new relief measures introduced
 "Budget 2025: Will middle-class gain relief with tax slabs from Rs 5 lakh?")
Industry expects tax regime simplification in Budget: Ficci survey
Expressing concerns over muted demand in the economy, companies have called for a review of the direct tax structure
 "Industry expects tax regime simplification in Budget: Ficci survey")
SC dismisses PIL seeking scrapping of 'tax deducted at source' framework
A two-judge bench of the Supreme Court remarked that the petition was poorly drafted and unsuitable for consideration, advising the petitioner to move the PIL to the Delhi High Court
 "SC dismisses PIL seeking scrapping of 'tax deducted at source' framework")
Budget 2025: Old versus new tax regime sparks debate on which one to choose
A tax rebate is available on income up to Rs 7 lakh under the new tax regime and up to Rs 5 lakh under the old regime
 "Budget 2025: Old versus new tax regime sparks debate on which one to choose")
Income tax department raids Pushpa 2 director Sukumar's office in Hyderabad
The Income Tax Department raided Pushpa 2 director Sukumar's house and office in Hyderabad today. The director was escorted by IT officials from Hyderabad airport
 "Income tax department raids Pushpa 2 director Sukumar's office in Hyderabad")
Supreme Court agrees to hear income tax dept's appeal in Vodafone case
The Bombay High Court had rejected the PCCIT's move to issue a reassessment notice
 "Supreme Court agrees to hear income tax dept's appeal in Vodafone case")
