middle-class benefits

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

Income Tax 2024: More relief for salaried taxpayers this Budget, should you move to New Tax Regime?

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Income Tax 2024: More relief for salaried taxpayers this Budget, should you move to New Tax Regime?

Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget 2024-25 in the Parliament on Tuesday, wherein she introduced some changes to the direct taxes.  FM Sitharaman made notable adjustments in the Income Tax Regulations to benefit the middle-class sector. One significant change is the 50% increase in the Standard Deduction, now … Read more