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Personal Finance

Personal Finance

The present income tax slabs were last revised in 2015, when the basic exemption limit was increased to Rs 2.5 lakh from Rs 2 lakh, which was revised in 2013.

Budget 2023: Will FM Sitharaman revise the long-term pending income tax exemptions limit?

Jan 24, 2023

The rising inflationary concerns, looming fears of inflations (REPEAT) and lay-off season has kept the citizens on tenterhooks, hoping that Sitharaman will leave more purchasing power in their hand to boost the consumption.

Budget 2023: Crypto industry calls for rationalised tax policy; but will the demand go unheard?

Budget 2023: Crypto industry calls for rationalised tax policy; but will the demand go unheard?

Jan 18, 2023

Crypto trading volumes at the homegrown exchanges took a big hit after rolling out a heavy taxation policy, which jolted millions of crypto investors in India.

The government is of the opinion that there is a need to relook the entire personal income tax system and come out with a single regime with larger slabs and a smaller number of exemptions

BT EXCLUSIVE: Centre considering incentivising alternative tax regime for FY24

Jan 17, 2023

The government is of the opinion that there is a need to relook the entire personal income tax system and come out with a single regime with larger slabs and a smaller number of exemptions

Industry experts are seeking raising the deduction limit on home loan interest

Budget 2023: Homebuyers may expect higher tax benefits

Jan 09, 2023

Increasing deduction limits is one of the key agenda of real estate developers this season.

Section 10 under the Income Tax Act is very crucial for all salaried emplpyees. It covers a wide range of allowances offered to the employees.

Budget 2023: Salary allowances which can reduce your tax burden

Jan 06, 2023

These allowances are offered on a monthly basis and have to be filled up when filing income tax returns (ITR).

The income tax people pay is based on the slab system introduced by the Finance ministry, which is made taking into account the average income of the taxpayers.

Budget 2023: What’s the difference between old tax regime and 2020 tax regime?

Jan 05, 2023

Income tax: Here's a close look at the two available income tax regimes offered by the Finance Ministry, and which one can be more suitable.

Both direct and indirect tax collections have been buoyant in 2022 in clear indication of revival of the economy after the pandemic and also as a result of government efforts to plug tax leakages

Union Budget 2023: Buoyant tax collections cushion Govt on fiscal front, Income Tax Return reforms likely this year

Dec 28, 2022

Both direct and indirect tax collections have been buoyant in 2022 in clear indication of revival of the economy after the pandemic and also as a result of government efforts to plug tax leakages

To achieve simplicity and bring efficiency to all categories of taxpayers, the government could make changes to the tax rates/ deductions. Here are some suggestions

Govt’s focus should be on widening the tax base

Dec 29, 2022

To achieve simplicity and bring efficiency to all categories of taxpayers, the government could make changes to the tax rates/ deductions. Here are some suggestions

Taxpayers are eager for a simplified tax regime and the government should look into it this Budget session

Union Budget 2023: The Finance Ministry should simplify and rationalise personal tax laws

Jan 03, 2023

Taxpayers are eager for a simplified tax regime and the government should look into it this Budget session