New Delhi: India is firming up a new scheme-Pradhan Mantri Kaushal Mudra Yojana (PMKMY)- to fund skilling of the country’s growing workforce, marking a major push to make financing a key part of the skills ecosystem. The scheme is likely to be announced in the upcoming Budget 2026-27 in February and could be spread over … Read more
The next phase of the market rally is likely to be led by the IT and banking sectors, supported by their strong Q3 performance and favourable valuations, says Ravi Singh, SVP – Retail Research, Religare Broking. “The banking sector, in particular, stands to benefit from a positive Union budget for FY26 and the Reserve Bank … Read more
The Union Cabinet is expected to approve the new Income Tax Bill on Friday, February 7, which could result in its introduction in the Lok Sabha early next week, government sources told Business Today. The purpose of the new Income Tax Bill is to simplify and streamline the tax process by replacing the current Income … Read more
Union Finance Minister Nirmala Sitharaman on Monday attacked Congress MP Rahul Gandhi over his “stupid self-confidence.” Her remarks came just hours after the Leader of Opposition in Lok Sabha claimed that China “is sitting inside the country” due to the failure of the Make-In-India initiative. Congress MP and Leader of Opposition in Lok Sabha, Rahul … Read more
Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old Regime continues to provide tax benefits through various exemptions and deductions. The proposed income tax slabs in the Union Budget 2025 … Read more
New Delhi: The proposed new income tax law will be “user-friendly” and easy to comprehend, without redundant provisions of the six-decade old Act, said Central Board of Direct Taxes (CBDT) chairman Ravi Agrawal. In an interview to ET on Sunday, a day after finance minister Nirmala Sitharaman announced the new legislation in her budget speech, … Read more
Chartered accountants V. Bhagyateja and Gopi Devarakonda at a meeting organised on the Union Budget in Tirupati on Sunday. PRSI president K. Srinivasa Rao and Secretary D. Chandramohan are seen. | Photo Credit: K.V. Poornachandra Kumar Speakers at the ‘Discussion on annual budget 2025’ organised by the Tirupati chapter of Public Relations Society of India … Read more
An alternative tax regime was introduced by the Union Budget 2020 (“New Tax Regime”). Since then, India has two taxation regimes for individuals. The Government intends to make ‘New Tax Regime’ more and more lucrative to individuals which is evident from the Budgetary proposals over the years. The main tax regime (as existing prior to introduction … Read more
This budget is more than a declaration of intent-it’s one with heart, mind, and soul that drives India forward with purpose. It’s anchored by four key engines-consumption, investment, simplification, and innovation-each aimed at driving inclusive development. The budget packs in more proposals and greater diversity than ever before, with a simplified tax regime, which can … Read more
Finance Minister Nirmala Sitharaman today stated that the income tax rebate announced in the Budget will benefit the Indian economy. “The rebate on income has gradually increased from ₹2.5 lakh to ₹5 lakh per annum. Now, the government has decided that if someone earns ₹1 lakh per month, they will receive a tax rebate. This … Read more