Liberalised Remittance Scheme

Income Tax in FY26: New tax slabs, raised rebate limits, removal of equalisation levy — new tax rules effective April 2025

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Income Tax in FY26: New tax slabs, raised rebate limits, removal of equalisation levy — new tax rules effective April 2025

Effective April 1, 2025, new income tax regulations have been introduced following the enactment of the Finance Act 2025. One of the significant changes is the increased income limit for individuals opting for the new Income Tax regime to avail rebates under Section 87A. The threshold has been raised from Rs 7 lakh to Rs … Read more

Income tax clearance mandatory to leave India? Centre issues a clarification. Here’s what it says

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Income tax clearance mandatory to leave India? Centre issues a clarification. Here’s what it says

The Central Board of Direct Taxes (CBDT) has issued a  clarification regarding Section 230 of the Income Tax Act, 1961 over reports that claimed a mandatory tax clearance was needed before leaving the country.  Responding to the reports, which created a significant stir, the CBDT said Section 230 does not mandate every individual domiciled in … Read more