Income Tax Bill 2025: Changes under the new bill that taxpayers must know. Check FAQs
The Simplified Income Tax Bill 2025, introduced by Finance Minister Nirmala Sitharaman, will replace the outdated Income Tax ...
Newspoint on MSN1d
New Income Tax Bill 2025: Why is the 64-year-old tax law changing; What changes have happened in gratuity, pension and VRS?
To simplify the 64-year-old Income Tax Act 1961 and eliminate unnecessary provisions in it, Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday. In ...
Tax Guru11d
Budget 2025: Block Assessment Amendments in Income Tax Search Cases
Summary: Effective from September 1, 2024, the Budget 2025 amendments introduce block assessment procedures for search cases under Sections 158B to 158BI of the Act. A block period now includes six ...
CNET14d
There Are 22 Types of 1099 Tax Forms. Here's How to Know Which Ones You'll Get
Zooey Liao/CNET; Mykola Sosiukin/EyeEm via Getty It's tax season, and if you've received an unfamiliar income form this year ... The Tax Cuts and Jobs Act of 2017 added a new section to ...
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
Budget 2025 Expectations Highlights: FM Sitharaman to give income tax relief to salaried taxpayers? GDP growth, record capex in focus
life insurance premiums fall under Section 80C of the Income Tax Act, which has a combined limit. There can be separate tax benefits / deduction limit specifically for life insurance premiums.
Forbes20d
Donald Trump Signs Laken Riley Act—First Law Of Presidency
President Donald Trump signed the Laken Riley Act—an immigration enforcement law named for a 22-year-old college student who was murdered last February—into law on Wednesday, making it the ...
The New York Times21d
Laken Riley Act Is an Effort to Target Migrants Accused of Crimes
The Laken Riley Act, as the law is known, directs the authorities to detain and deport immigrants who are accused — not yet convicted — of specific crimes, if they are in the country illegally.
Philippine Daily Inquirer21d
PH seen stuck in middle income trap until 2050
MANILA, Philippines — The Philippines might only be able to break free from the “middle-income trap” in 2050 as it struggles to corner more job-generating foreign investments, Nomura said in ...
India Today21d
Trump pushes to abolish income tax: Tax foreign nations, enrich our people
Trump argues period with tariff-based economic system was US's wealthiest US President proposes abolishing income tax to boost disposable income Asserts US should tax foreign nations to enrich ...
The Financial Express22d
Budget 2025: Annual income up to Rs 10 lakh to be tax-exempt? Higher deductions, new 25% slab on taxpayers’ wishlist
Also read: Budget 2025: Govt may replace Income Tax Act, 1961 with THIS new law! What it means for taxpayers With the government aiming to further increase the 72% of taxpayers currently under the ...