The proposed changes aim to simplify the tax system by ensuring that the new code is written in clear and accessible language. Sitharaman assured during her address at the 165th Income Tax Day celebrations.
Taxing the Economically Weaker Sections ( <8LPA) and then claiming to help them.
The bill widens income tax slabs for individuals. Income between Rs 2 to Rs 5 lakh will be taxed at 10%, between Rs 5 and Rs 10 lakh at 20%, and over Rs 10 lakh at 30%.
Yes, we are all fools to believe this after you reduce the tax exempt income from 2.5L to 2.0L. As if the inflation was not enough, now they are increasing the tax burden.
Removes several tax breaks and deductions currently allowed for companies but retains most deductions available to individuals.
The new Income Tax bill is set to introduce the concept of 'Tax Year'. This will replace the current concept of assessment year (or previous year) from the Income Tax Act. The "tax year" has been...
This website uses affiliate links. This means that if you click on a link and make a purchase, we may receive a commission. This does not affect the price you pay for the product.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.