tax rates

Gold investment: What do you need to know when you are selling your gold jewellery, Gold ETFs

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Gold investment: What do you need to know when you are selling your gold jewellery, Gold ETFs

The capital gains taxation rules on gold saw significant alterations from July 23, 2024. These changes affect all asset classes, including gold, mutual funds, and real estate, substantially impacting investors and sellers of gold jewellery. The adjustments were introduced to harmonise tax treatments across various investment categories, bringing clarity and uniformity to the taxation process … Read more

Tax relief: You’ll get rebate even if capital gains push your total income more than Rs 12.75 lakh, points out Finance Bill, 2025

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Tax relief: You’ll get rebate even if capital gains push your total income more than Rs 12.75 lakh, points out Finance Bill, 2025

In Budget 2025, Finance Minister Nirmala Sitharaman unveiled significant income tax savings, giving taxpayers more funds and introducing modifications to the way they compute their obligations. A noteworthy point is that individuals with earnings up to Rs 12 lakh are exempt from paying income tax in the updated taxation system. During her speech, the Finance … Read more

Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

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Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

The newly introduced Income Tax Bill 2025 aims to simplify the existing provisions of the Income-Tax Act, of 1961. The provisions of the New Tax Regime outlined in Section 115BAC of the Income-Tax Act, 1961 will be moved to Section 202 in the new Income-Tax Bill 2025, effective from April 1, 2026. The bill includes … Read more

New Income Tax Bill 2005 soon: Here are top points on taxpayers, tax deadlines, pension, investors, cryptos

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New Income Tax Bill 2005 soon: Here are top points on taxpayers, tax deadlines, pension, investors, cryptos

The Income Tax Bill of 2025, scheduled to be tabled in Parliament on Thursday, is expected to be a significant milestone in India’s tax framework as it is poised to replace the existing bill from 1961. Upon approval, the bill is expected to take effect on April 1, 2026. The objective of the new income … Read more

GST cuts likely soon, rationalising of rates possible: FM Nirmala Sitharaman in Rajya Sabha

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GST cuts likely soon, rationalising of rates possible: FM Nirmala Sitharaman in Rajya Sabha

Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday that a reduction in goods and services tax (GST) can be expected. She stated that the GST Council is currently working on streamlining the rate slabs for Goods and Services Tax. Additionally, the finance minister highlighted that there has been a significant decrease in GST … Read more

Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

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Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

Tax calculation: In Budget 2025, the Finance Minister announced that no income tax is payable up to an annual income of Rs 12 lakh, providing a tax rebate for individuals earning up to this amount. The tax slabs for different income brackets have been updated, with those earning between Rs 4-7 lakh now required to pay … Read more

Tax-Budget 2025: Tweaks in New Tax Regime – How much more you will earn in FY26 vs FY25 if your salary is Rs 12 lakh/year?

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Tax-Budget 2025: Tweaks in New Tax Regime – How much more you will earn in FY26 vs FY25 if your salary is Rs 12 lakh/year?

Tax Budget 2025: The introduction of Budget 2025 has resulted in significant changes that align with the expectations of the middle class. Notably, the Finance Minister has raised the tax-free income threshold to Rs 12 lakh, translating to Rs 12.75 lakh for salaried individuals after considering the standard deduction. A key highlight this Budget for middle-class … Read more

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

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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

Budget 2025: How can FM Nirmala Sitharaman soothe middle-class taxpayers this time?

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Budget 2025: How can FM Nirmala Sitharaman soothe middle-class taxpayers this time?

Budget expectations: On February 1, 2025, Union Budget will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha. Income taxpayers are expecting significant tax breaks. The taxpayers may expect some big changes as PM Narendra Modi and President Draupadi Murmu hinted at some major shakeup.  Ahead of the Budget 2025, President Draupadi Murmu suggested … Read more

Budget 2025: Higher deductions, lower tax outgo – taxpayers, experts expect revised tax slabs, tax relief

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Budget 2025: Higher deductions, lower tax outgo – taxpayers, experts expect revised tax slabs, tax relief

Budget expectations: Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025, a highly anticipated event for taxpayers nationwide. The segment on income tax is of particular interest, as individuals eagerly await any potential changes that could offer relief. Speculation for this year’s budget centers around possible modifications to tax … Read more