Advance tax: March 15 is deadline of last instalment; what penalty will you pay if you miss it

Advance tax: March 15 is deadline of last instalment; what penalty will you pay if you miss it

The Income Tax Department has issued a reminder that the final installment of advance tax for the financial year 2024-25 must be settled by March 15, 2025. This means that only three days, including today, remain until the payment is completed. It is mandatory to settle all outstanding advance tax obligations by the specified date. … Read more

IPL Auction 2025: How Rishabh Pant, Mitchell Starc, Vaibhav Suryavanshi will be taxed on their latest IPL salaries

IPL Auction 2025: How Rishabh Pant, Mitchell Starc, Vaibhav Suryavanshi will be taxed on their latest IPL salaries

IPL Auction 2025: The IPL is widely regarded as the most lucrative domestic T20 cricket league in the world, attracting top talent with whopping salaries. With significant sponsorships and broadcast deals, IPL franchises spare no expense in securing the services of top players. Two days back, Rishabh Pant made history by becoming the most expensive … Read more

Income Tax changes: Rs 17,500 savings, tax exemption till Rs 7.75 lakh. Here’s what taxpayers would get under New Tax Regime

Income Tax changes: Rs 17,500 savings, tax exemption till Rs 7.75 lakh. Here’s what taxpayers would get under New Tax Regime

Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday brought in some relief for the taxpayers under the New Tax Regime. After increasing the Standard Deduction limit from Rs 50,000 to Rs 75,000, FM Sitharaman revised the tax slabs for the New Tax regime. She said salaried employee will now stand up to save Rs … Read more

42nd GST Council meeting begins, opposition FMs to resist move on borrowing by states

42nd GST Council meeting begins, opposition FMs to resist move on borrowing by states

The 42nd goods and services tax (GST) Council meeting headed by finance minister Nirmala Sitharaman began today via video conferencing, and is likely to be a turbulent one with states pushing against Centre’s proposals on borrowing to meet GST compensation shortfall. The rift between BJP ruled and opposition led states may widen with the former … Read more

Opposing for posing’s sake: Successive governments have been held in thrall by a few state governments

Opposing for posing’s sake: Successive governments have been held in thrall by a few state governments

Plato, in Euthydemus, complains that the philosophers known as the sophists are indifferent to what is actually true or false, but are interested only in winning arguments. In other words, they are no different from our modern political class on the current agriculture reforms, where many of them are only trying to spread bovine faeces … Read more

Easing FRBM limit by 50bps not adequate, say Kerala, Punjab, criticising Centre’s borrowing options

Easing FRBM limit by 50bps not adequate, say Kerala, Punjab, criticising Centre’s borrowing options

New Delhi: Kerala is set to reject both borrowing options put on the table by the Centre to meet the GST compensation shortfall for FY21, even as other states questioned the tinkering of loan limits prescribed in the Fiscal Responsibility and Budget Management (FRBM) Act. Bihar, on the other hand, may go for the borrowing … Read more