Mary Currie: Tax Changes to Take Note of This Year
5 Articles
5 Articles
New Income Tax Bill 2025: 3 key changes that could make ITR filing easier
The committee submitted its report to Parliament on 21 July. It’s over 4,500 pages long and includes 285 suggestions to improve the draft New Income Tax Bill, 2025, which is meant to replace the old 1961 Act.
New Income Tax Bill: Relief Likely On Tax Treatment For LLPs As Government Set To Fix Drafting Errors
The government is likely to rectify key “drafting errors” in the proposed new Income Tax Bill, top sources told NDTV Profit. The move aims to bring clarity and ease the confusion around certain tax treatments involving partnership firms and deduction on dividends. The correction assumes significance as the draft Bill had proposed expanding the scope of the Minimum Alternative Tax (MAT) to LLPs, making them liable to pay a higher long-term capita…
ITR: Tax-Free Income Up to ₹12 Lakh – New Regime Explained in Simple Terms
The season of filing Income Tax Returns (ITR) has begun. More than 1 crore taxpayers have filed their returns. Many taxpayers are trying to find out which of the old and new income tax regimes is beneficial for them. The main reason for this is a big announcement made by the government in the Union Budget 2025. The government had said in the budget presented in February this year that taxpayers with income up to Rs 12 lakh will not have to pay t…
Income Tax Rules: Important News for Taxpayers! Know these things before getting tax exemption up to Rs 12 lakh under new tax regime - Business League
Income Tax Rules: The truth is that the rule of exemption from tax on income up to Rs 12 lakh per annum will be applicable from the financial year 2025-26. This means that this decision will not be applicable on the income earned from April 1, 2024 to March 31, 2025. Income Tax Rules: The season of filing Income Tax Returns (ITR) has begun. More than 1 crore taxpayers have filed their returns. Many taxpayers are trying to find out which of the o…
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