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  Budget 2025: When was Income Tax introduced in the Union Budget? Know here

  Budget | January 31, 2025 7:56 IST

  Budget 2025: With Union Budget 2025 around the corner, discussions on income tax slabs, exemptions, and potential reforms are once again in focus, as taxpayers eagerly await announcements that could impact their financial planning for the coming year.

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  Budget 2024: 'Can't say if there will be a sunset', says Nirmala Sitharaman on old tax regime

  Budget | July 23, 2024 18:12 IST

  Nirmala Sitharaman stated that no decision has been made on scrapping the old regime, emphasising the government's intention to simplify the tax system. The revised New Tax Regime aims to provide annual tax savings for individual taxpayers, effective from April 1, 2024.

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  Union Budget 2024: 'Simplified taxation, revenue mobilisation in focus,' says Nirmala Sitharaman

  Budget | July 23, 2024 17:03 IST

  Union Finance Minister Nirmala Sitharaman, during a press conference on the Union Budget 2024, announced a simplified approach to taxation aimed at boosting investment, with the average taxation reduced to 12.5 per cent. She also emphasised the need to widen the tax net and highlighted the increase

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  Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime

  Budget | July 23, 2024 19:18 IST

  Budget 2024: Finance Minister Nirmala Sitharaman said the government will launch three employment-linked schemes. These schemes will be based on enrolment in Employees' Provident Fund Organization (EPFO).

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  Budget 2023: Govt increases income tax rebate to Rs 7 lakh per annum | 5 major announcements

  Budget | February 01, 2023 17:53 IST

  Budget 2023: In a big relief for the common man, the Modi government on Wednesday made five major announcements in the personal income tax space including increasing rebate up to Rs 7 lakh per annum.

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  Union Budget 2023: Govt likely to raise income tax exemption limit from Rs 2.5 lakh to 5 lakh

  Budget | January 23, 2023 12:51 IST

  Budget 2023: As of now, the maximum slab of income which is exempted from the purview of income tax is Rs 2.5 lakh.

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  Income Tax Return: Settling The Old vs New Tax Regime debate

  Business | February 05, 2020 15:52 IST

  Finance Minister Nirmala Sitharaman announced a new simplified tax regime for personal taxpayers. The rates under the new tax regime have the option for HUFs to pay their taxes as per the new rules with no exemptions and reduced tax rates. The new tax rates proposed by the ministry of finance are aimed at boosting the Indian economy.

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  Personal Income Tax Slab revised. But wait, there's a twist

  Business | February 01, 2020 16:51 IST

  Income tax slab revised Latest News: Ushering in a new income tax regime, Union Finance Minister Nirmala Sitharaman announced cuts on Saturday as she presented Union Budget 2020. But there's a catch. Under the new proposed regime, which is optional, you will not be able to avail any deductions or exemptions that earlier allowed you to lower the amount of your salary that was taxed.

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  Good news: This Diwali, govt may gift you a cut in personal income tax

  Business | October 01, 2019 19:06 IST

  The government has a Diwali gift for us all. A cut in personal income tax rate is what appears to be on the cards, according to a report. It is said that the government is considering rationalising personal income tax rates. This is being done to increase disposable incomes, especially among the middle class, and drive consumption, resulting in growth.

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  Massive cuts in personal income tax soon? Task force recommends

  Business | September 23, 2019 19:21 IST

  According to the report, the submission was made on August 19, 2019. The task force said income tax rates could be cut for individuals in order to boost consumption.

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  Earning between Rs 5 lakh to Rs 10 lakh? You may have to pay 10 pc income tax as per new rules

  Business | August 29, 2019 0:02 IST

  Sources close to developments have revealed that the task force has recommended five tax brackets of 5 per cent, 10 per cent, 20 per cent, 30 per cent and 35 per cent, against the prevailing structure of 5 per cent, 20 per cent and 30 per cent.

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  No change in income tax slab; individuals with income upto Rs 5 lakh to get tax rebate, not tax exemption

  Budget | February 02, 2019 10:08 IST

  Despite the budget announcements, the individuals with annual income upto Rs 5 lakh will have to pay taxes as per old rates in the Financial Year 2019-20 as well, but they will be eligible for full refund.

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  Budget 2018: Modi govt extends sops to poor, squeezes middle class, Cong terms healthcare scheme 'jumla'; India Inc hails 'populist' Budget

  Budget | February 02, 2018 7:20 IST

  To pay for seeming bout of generosity towards poor, albeit with vote-banks in mind, the finance minister has mopped up huge sums through three or four simple steps, mostly aimed at the middle class.

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  India Union Budget 2018 Key Highlights: No change in income tax slabs, new standard deduction introduced

  Budget | February 01, 2018 16:52 IST

  Presenting the Union Budget 2018-19, the finance minister however proposed a marginal releif to tax payers by introducing new standard deduction of Rs 40,000 cr for salaried taxpayers.

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  Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Jaitley

  National | April 20, 2014 20:58 IST

  Amritsar: BJP leader Arun Jaitley today demanded a raise in the Income Tax ceiling from Rs two lakh to Rs five lakh, which he claimed will benefit thirty million people.Advocating low tax structure, the BJP