New Income Tax Bill 2025: For common man, better understanding of law and smoother tax compliances expected
The language used in the Bill at many places is extremely lucid and is reader friendly as it has tables and formulas as ...
New Income Tax Bill, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?
The Income Tax Bill 2025, has 57 tables, compared to 18 in the existing I-T Act of 1961 and removed 1,200 provisos and 900 ...
devdiscourse6d
New Income-tax Bill, 2025 Introduced: A Major Leap Toward Simplified Tax Laws
The Income-tax Bill, 2025 exemplifies the Government’s resolve to enhance the ease of doing business and create a transparent ...
Canada13d
Personal income tax
Who should file a tax return, how to get ready for taxes, filing and payment due dates, reporting your income and claiming deductions, and how to make a payment or check the status of your refund.
CNET14d
No, a Tax Return and Tax Refund Are Not the Same
A tax return is the form — typically the 1040 — that you file with the IRS each year and that provides an overview of your finances, such as adjusted gross income (AGI), expenses and other ...
The Indian Express16d
With zero tax upto Rs 12 lakh, you will take home the same as someone with income of Rs 12.71 lakh. Here’s why
The announcement of Nil tax for those with taxable income of up to Rs 12 lakh has brought cheer to all who fall in that category. However, many who are marginally above that ceiling will end up taking ...
Indiatimes18d
Budget 2025 income tax: Raise 30% income tax slab; provide flat 30% deductions on gross income - here’s why
Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...
Indiatimes20d
Will Budget 2025 give any income tax relief under old tax regime?
Changes in individual income tax laws announced since Budget 2020 In 2020, the finance minister unveiled a simplified tax regime, also known as new tax regime, which offered taxpayers the option to ...
Yahoo Finance21d
What is passive income, and how do I generate it through investing?
"Certain types of investment products can get you some tax-free income, like government bonds," said Colvin. "The tax benefits you get from federal or municipal bonds are a nice perk, but they won ...
Indiatimes21d
Budget 2025 income tax new versus old regime: Top 7 expectations of taxpayers from FM Sitharaman
For the initial few years there was not much uptake of the new income tax regime amongst the taxpayers. This resulted in another amendment of making the new income tax regime as the ‘default ...
moneycontrol.com21d
Income Tax Expectations Highlights (January 28): Will Union Budget 2025 scrap old tax regime?
The Central Government has introduced the Unified Pension Scheme (UPS) as an option under the National Pension System (NPS) for Central Government employees. The Pension Fund Regulatory and ...
Hindustan Times21d
Budget 2025: Why the government is reluctant to reduce personal income tax
They have to comply with multiple sections of the income tax law and other tax and commercial laws and maintain records. Mr Garg said their burden can be eased with a presumptive tax regime ...