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

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

Finance Ministry notifies final Cost Inflation Index for FY25 at 363: Key Updates for AY 2025-26

Finance Ministry notifies final Cost Inflation Index for FY25 at 363: Key Updates for AY 2025-26

The Ministry of Finance has notified the final Cost Inflation Index (CII) for FY25 (Assessment Year 2025-26) at 363.   The ministry through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2024, detailing the Cost Inflation Index (CII) for the financial year 2024-25 i.e. Assessment Year 2025-26.   The notification … Read more