‘Income Tax Bill likely to be taken up in Feb 7’s cabinet meeting’: Govt sources

‘Income Tax Bill likely to be taken up in Feb 7’s cabinet meeting’: Govt sources

The Union Cabinet is expected to approve the new Income Tax Bill on Friday, February 7, which could result in its introduction in the Lok Sabha early next week, government sources told Business Today. The purpose of the new Income Tax Bill is to simplify and streamline the tax process by replacing the current Income … Read more

ITR 2024-25: Are the latest Budget 2025 tax slabs applicable for tax filing in AY 2025-06? Details here

ITR 2024-25: Are the latest Budget 2025 tax slabs applicable for tax filing in AY 2025-06? Details here

Income tax returns: In the Budget 2025, middle-class taxpayers have received some relief. Under the new tax regime announced by Finance Minister Nirmala Sitharaman, individuals earning up to Rs 12 lakh annually will no longer be required to pay any income tax. The exemption limit has been raised, and tax slabs have been adjusted to provide … Read more