Union Finance Minister Nirmala Sitharaman will present the new Income Tax Bill 2025 in the Lok Sabha today. This bill, designed to make tax regulations more accessible to the general public, will replace the existing Income Tax Act of 1961. The bill will then be referred to the Parliamentary Standing Committee on Finance, which will … Read more
Unified Pension System: The Narendra Modi-led government has approved a new pension scheme, the Unified Pension Scheme, which will come into effect in the next fiscal year, i.e. FY2025-26. After facing much criticism for removing the Old Pension Scheme, the NDA government has introduced the Unified Pension Scheme, which amalgamates the advantages of the previous … Read more
The Tripura government has announced its decision to appeal a high court order that allowed gratuity benefits to the Anganwadi workers. Social Welfare and Social Education Minister Tinku Roy said the state government disagrees with the directive and has decided to take the matter to the top court. The high court of Tripura, in a … Read more
New Delhi: The government is considering various strategies to ensure a nationwide rollout of the four labour codes even though some states and Union territories are yet to come out with draft rules under one or more of these codes.The ministry of labour and employment is considering several options including a gradual repeal of the … Read more
Since the Centre made the New Tax Regime the default tax system in 2023, there has been many reports on which tax system is better and what to choose. The government introduced a new tax regime, known as Section 115BAC, as an alternative to the old tax regime. This new regime was optional and started … Read more
New Tax Regime: The Centre introduced the New Tax Regime under Section 115BAC as a new optional alternative to the Old Tax Regime from April 1, 2020 (FY 2020-21) for individuals and the Hindu undivided family (HUF). But after three years, Union Finance Minister Nirmala Sitharaman during the Union Budget 2023 announced that the New … Read more
Along with other prudent costs of up to ₹5.33 crore and a revenue gap of ₹64 crore, KPTCL had urged the commission to recover ₹2,803 crore from Escoms which would be passed onto the consumer tariffs. In a public hearing called by the Karnataka Electricity Regulatory Commission (KERC) on Monday, Karnataka Power Transmission Corporation Limited (KPTCL) … Read more
NEW DELHI: The labour ministry may widen the scope of gratuity to include contract workers, gig workers, seasonal workers and fixed-term employees by reducing the threshold on the minimum work requirement of five years to be eligible for it and reducing the component of gratuity for different categories of workers. The various options being considered … Read more