Over 44.3 mn income tax returns filed till December 25 for 2020-21

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Personal Income Tax Rate

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<div>
	Personal income tax is a taxation system that the government imposes on income generated by individuals. By law, taxpayers must file an income tax return annually to determine their tax obligations. The revenues from here are an important source of income for the government of India.</div>
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	This type of income tax is levied on an individual&#39;s wages, salaries, and other types of income such as pensions, interest, and dividends.</div>

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	<br />
	The benchmark India uses refers to the Top Marginal Tax Rate for individuals, including health and education cess on tax and surcharge.</div>
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	According to the Ministry of Finance, the Personal Income Tax Rate in India stands at 35.88 per cent. In 2015, the rate stood at 33.99 per cent.</div>
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	In Union Budget 2020, Finance Minister Nirmala Sitharaman introduced a new concessional income tax regime with reduced tax rates for those willing to forgo 70 tax-exemptions and deductions. This new system has been made optional and continues to co-exist with the old one that comprises three tax rates and various tax exemptions. The new income tax slabs and rates came into effect from April 1, 2020, for FY 2020-21.</div>
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	&nbsp;</div>
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	Here are the income tax rates and slabs under the new tax regime:</div>
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	&nbsp;</div>
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	Total income (Rs): Income tax rate</div>
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	&nbsp;</div>
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	Up to 250,000: Nil</div>
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	&nbsp;</div>
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	250,001 to 500,000: 5%</div>
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	500,001 to 750,000: 10%</div>
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	750,001 to 10 lakh: 15%</div>
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	10,00,001 to 12.5 lakh: 20%</div>
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	12,50,001 to 15 lakh: 25%</div>
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	&nbsp;</div>
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	Above 15 lakh: 30%</div>
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	&nbsp;</div>
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	Individuals with a net taxable annual income of up to Rs 500,000 will be able to avail tax rebate of Rs 12,500 under section 87A. This means that individual taxpayers with net taxable income of up to Rs 500,000 will continue to pay zero tax in both the tax regimes.</div>
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	&nbsp;</div>
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	However, individuals who have opted for the new tax regime would not be able to avail of common tax breaks such as deductions under section 80C for a maximum of Rs 150,000 by investing in specified instruments, section 80D for medical insurance, house rent allowance, etc.</div>

Personal Income Tax Rates - Know all about latest personal income tax rates as per the ongoing budget presented in month of February every year with business-standard.com

Personal Income Tax Rates | Indivdual Taxes on Income | Taxes on personal income

What is Personal Income Tax Rate?

Latest Updates on Personal Income Tax Rate

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Sensex, Nifty, stock brokers

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

Analysts at Jefferies, believe that the time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.

Eicher Motors, motorcycle ,Royal Enfield, Royal Enfield bikes,

Stocks to watch on Tuesday, September 26, 2023: Shares of bank, mainly state-run, are likely to be in focus amid reports that the government may spend up to Rs 60,000 crore to provide subsidised loans

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International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Asian Games 2023 Day 1 Highlights: The Indian team won five medals in rowing and shooting while it secured a medal by qualifying for final in women's cricket

Asian Games Day 1 Highlights. Photo: Team India

Asian Games Day 1 Highlights

Lt Governor VK Saxena on Saturday reviewed the cleanliness and the infrastructure at various places in Delhi and flagged the poor condition of some roads and drains.
In an interview to PTI earlier this month, Saxena had said the beautification of other parts of Delhi would also be carried out. He has already started carrying out inspections of areas that need beautification.
Saxena spoke to PTI ahead of the G20 Summit. Vast stretches of the national were redeveloped for the mega event.
"Starting from Yudhisthir Setu at ISBT, reviewed cleanliness and civic infra across GT Road-Shastri Park, Dilshad Garden and Kakardooma," Saxena said in a post on X.
"Roads in disrepair, chocked drains, heaps of garbage, unpruned trees and encroachments mar the area. Will personally monitor a revamp from tomorrow," he said.

then Khadi and Village Industries Commission (KVIC) Chairman Vinai Kumar Saxena launches the unique plastic-mixed eco-friendly handmade paper carry bags on the occasion of Swachhata Diwas, at Connaught place in New Delhi. Saxena appointed as new Lt.

Vinai Kumar Saxena

Israeli airstrikes hit a militant site in Gaza on Saturday for the second time in as many days, the Israeli army said, after Palestinian militants sent incendiary balloons into Israeli farmland and Palestinian protesters threw stones and explosives at soldiers at the separation fence.
There were no reported casualties from the strikes in Gaza. Earlier Saturday, the Israeli military shot and wounded three Palestinians who were rallying at the separation fence along the Israeli frontier with the crowded enclave. It's a familiar tactic for Palestinians in Gaza protesting a 16-year blockade imposed by Israel with Egypt's help. Israel says the blockade is needed to prevent the ruling Hamas militant group from arming itself.
It was the latest in a series of violent protests over the past week that has raised the specter of an escalation for the first time since a brief round of conflict last May between Israel and the Palestinian Islamic Jihad militant group. It comes at a fraught time, ..

Gaza violence

Union Minister Dharmendra Pradhan on Saturday said the BJP-led NDA will secure more than 350 seats in the 2024 Lok Sabha polls and return to power at the Centre under the leadership of Prime Minister Narendra Modi.
Pradhan also asserted that the BJP would form the government in Odisha next year but he refused to divulge who would be the party's face here.
The NDA will complete its 25th anniversary in 2024 and it will secure more than 350 seats in the Lok Sabha polls, Pradhan said at an interactive session of the Odisha Literary Festival.
Asked about the Odisha Assembly elections due next year, he said the "BJP will form the government" in the state.
He said the saffron party had won elections in states like Maharashtra, Haryana and other places without making any announcement on the party's chief ministerial candidate before the polls.
Here (Odisha) also, we will win polls in the same manner, Pradhan said, adding that he would not divulge more on the BJP's strategies on the public

Union Education Minister, Dharmendra Pradhan

Lauding Prime Minister Narendra Modi, Uttar Pradesh Chief Minister Yogi Adityanath said on Saturday that it should be learnt from the PM how development schemes are made and effectively implemented for the benefit of every section of society.
He was speaking at the closing ceremony of the Kashi Sansad Sanskritik Mahotsav-2023 at the Rudraksh International Cooperation and Convention Centre here.
The chief minister said that "whenever the prime minister comes to Kashi, he comes after giving something great to the country and to the world", and highlighted the Chandrayaan-3 lunar mission, the G20 Summit, the women's reservation bill and the Aditya L-1 mission to study the sun.
"How to make development schemes for every section of society and implement them effectively, we learn this from your (Prime Minister Modi) leadership capability," Adityanath said.
Prime Minister Modi represents Varanasi, also known as Kashi, in the Lok Sabha.
The chief minister said that this is the fourth ...

Uttar Pradesh Chief Minister Yogi Adityanath

Yogi Adityanath

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

Shree Renuka Sugars on Tuesday said it has entered into an agreement to acquire a 100 per cent stake in Anamika Sugar Mills for Rs 235.5 crore.
Renuka Sugars is one of the leading sugar firms in the country.
In a regulatory filing, Shree Renuka Sugars informed that it has "entered into a binding agreement i.e., the Share Purchase Agreement, dated 26th September 2023, with Anamika Sugar Mills Pvt Ltd for acquisition of 100 per cent of the equity shares of Anamika".
The company intends to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of north and east India.
"Acquisition of Anamika would enable the Company to gain access to existing sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to skilled/unskilled labour," it added.
The company said it might expand and modernise the plant.
Anamika will become a wholly-owned subsidiary of the company.
Shree

Sugar

Competition Commission of India (CCI) on Tuesday cleared Carlsberg Breweries' proposed acquisition of an additional 33.33 per cent stake in Carlsberg South Asia Pte Ltd.
The deal has been cleared under the green channel route.
The proposed transaction entails Carlsberg Breweries A/S (CBAS) buying an additional 33.33 per cent of equity share capital (on a fully-diluted basis) in Carlsberg South Asia Pte Ltd (CSAPL).
CBAS is involved in the business of manufacturing, marketing, and distributing alcoholic beverages under numerous brands worldwide.
The company is present through Carlsberg India Pvt Ltd (CIPL) and does not have any other direct or indirect business presence in the country.
CSAPL is the holding company of South Asian Breweries Pte Ltd, Singapore, which, in turn, is the holding company of CIPL.
"There are no horizontal overlaps, vertical/complementary links between the activities of the parties and their respective groups/affiliates," CCI said.
"The proposed transactio

carlsberg

Around 250 passengers had to wait inside an Air India aircraft for more than three hours at the Mumbai airport on Tuesday evening as the plane suffered a technical glitch, according to sources.
The Dreamliner aircraft was stranded on the taxiway for a long time and later towed to the parking bay.
A passenger onboard the aircraft told PTI that the flight, which was scheduled to take off at around 4 pm, was delayed, and finally, passengers boarded at around 5:30 pm.
There was no proper briefing by the crew except for the message that there was a technical glitch. The passengers were inside the plane for more than three hours, and there was also no clarity about alternative arrangements, the passenger said.
Sources at Air India said the aircraft suffered a technical glitch soon after pushback and was on the taxiway before it was towed to the parking bay. There were around 250 passengers onboard the plane, they added.
They said passengers have been deboarded, and after thorough checks

Airports, nearby areas may not get 5G network services anytime soon

Airlines, airport, aviation, flights

Cosmos would have 170 branches in seven states across India

Bank

In complaint filed in federal court in Seattle Tuesday, the FTC and 17 states accused Amazon of engaging in a course of conduct to exclude rivals in online marketplace services and stifle competition

Personal Income Tax Rate

Latest Updates on Personal Income Tax Rate

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Shree Renuka to acquire 100% stake in Anamika Sugar Mills for Rs 235 cr

CCI clears Carlsberg's acquisition of additional 33.33% stake in CSAPL

Air India plane with 250 passengers suffers tech glitch at Mumbai airport

Cosmos Coop Bank merges Sahebrao Deshmukh Co-op Bank with itself

US FTC sues Amazon in landmark antitrust lawsuit over marketplace

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Ambani's children will get no salary, only fee for attending board meetings

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Moody's rpt on Aadhaar made assertions without citing any evidence: UIDAI