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Income Tax Bill aims to achieve tax certainty, minimise fresh interpretation: I-T department

Income Tax Bill aims to achieve tax certainty, minimise fresh interpretation: I-T department

Thu, Feb 13, 2025

Finance Minister Nirmala Sitharaman, while introducing the Bill in the Lok Sabha, had said that "substantial changes" have been made in the Bill. The number of words have been halved from 5.12 lakh, and sections reduced from 819 to 236. Following introduction, the Bill was referred to the select committee of the Lok Sabha and mandated to submit its report by March 10.

Budget's goal is to propel growth, boost private investments: Finance Minister

Budget's goal is to propel growth, boost private investments: Finance Minister

Thu, Feb 13, 2025

"There are no models that you can build and understand how the trends will be because they are very dynamic... Despite that, we have tried keeping the assessments as close as possible, keeping India's interests as topmost...This immense uncertainty is still playing out and many Indian imports which are very critical for our economy to grow are also going to be left with uncertainty," she said.

Finance Minister tables Income Tax Bill 2025 in Parliament today; sections, tax year and other key things to know

Finance Minister tables Income Tax Bill 2025 in Parliament today; sections, tax year and other key things to know

Thu, Feb 13, 2025

The legislation will replace the Income Tax Act, 1961, which has grown extensively due to numerous modifications carried out over six decades. The new law is expected to take effect on April 1, 2026.

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New Income Tax Bill: Finance Minister Nirmala Sitharaman introduces I-T Bill 2025 in Parliament today; here's what you need to know

New Income Tax Bill: Finance Minister Nirmala Sitharaman introduces I-T Bill 2025 in Parliament today; here's what you need to know

Thu, Feb 13, 2025

The present Income Tax Act contains 52 chapters and 1,647 pages. The revised bill is projected to be far shorter, with only 23 chapters, 536 sections, and 622 pages.

New income tax bill likely to be tabled in Parliament on February 13; to be effective from April 1, 2026

New income tax bill likely to be tabled in Parliament on February 13; to be effective from April 1, 2026

Wed, Feb 12, 2025

The new income tax bill is made up of 622 pages, and words have been reduced from six lakh words to three lakh words.

What New Income Tax Bill Could Bring? How it could impact taxpayers?

What New Income Tax Bill Could Bring? How it could impact taxpayers?

Mon, Feb 10, 2025

New Income Tax Bill : The current Income Tax Act (Income Tax Act 1961) has been in force since 1961. Now it will be completely abolished and a new law will be brought, which will be updated as per the current times. sources told that A new 'tax year' may also be implemented. The government is considering merging the assessment year and financial year. With this, the rules of tax filing will become easier and streamlined.

Action to be taken if gold auction norms violated by banks, NBFCS: Finance Minister

Action to be taken if gold auction norms violated by banks, NBFCS: Finance Minister

Mon, Feb 10, 2025

There is a process for giving enough number of notices to bank account holders to say their servicing is not up to the mark. In the eventuality of a borrower not coming back to pay, the bank or NBFC will be forced to go for an auction, the minister said.

India with Budget 2025: New Income Tax Law cleared by Cabinet, says Finance Minister

India with Budget 2025: New Income Tax Law cleared by Cabinet, says Finance Minister

Sat, Feb 08, 2025

India with Budget 2025: The new income tax law, which will replace the six-decade-old Income Tax Act, is expected to be introduced in the Lok Sabha next week, according to Finance Minister Nirmala Sitharaman's statement on Saturday.

Budget 2025-26 sets to revolutionise country's infrastructure landscape: IIFCL MD

Budget 2025-26 sets to revolutionise country's infrastructure landscape: IIFCL MD

Sun, Feb 02, 2025

With this year's budget, it is evident that the government has embarked on an ambitious journey to revolutionise the country's infrastructure landscape, India Infrastructure Finance Company Limited (IIFCL) Managing Director PR Jaishankar said on Sunday.

Union Budget 2025: What is the plan on capital expenditure?

Union Budget 2025: What is the plan on capital expenditure?

Sun, Feb 02, 2025

Zee Business spoke to the most important member of the budget team, Manoj Govil, Secretary, Expenditure Department. Know what things Manoj Govil, Secretary, Expenditure Department of the Union Finance Ministry, focused on while preparing Budget 2025?

Nirmala Sitharaman cuts taxes for middle class in 'People's Budget'

Nirmala Sitharaman cuts taxes for middle class in 'People's Budget'

Sat, Feb 01, 2025

Finance Minister Nirmala Sitharaman on Saturday announced significant income tax cuts for the middle class and unveiled a blueprint for next generation reforms for Viksit Bharat as she treaded a fine line between fiscal prudence and providing a thrust to growth.

Budget 2025 Reactions: From economists, political leaders, corporates to market analysts, how India is viewing FM's announcements

Sat, Feb 01, 2025

India Union Budget 2025 Reactions: Following the Budget announcement, reactions have been mixed. Some are praising it, while others are criticising it. Here's how industry experts, political leaders, and market analysts are reacting to the Finance Minister's Budget announcements:

Budget 2025 Announcement: Finance Minister removes import duties on 25 critical minerals, 36 drugs for rare diseases

Budget 2025 Announcement: Finance Minister removes import duties on 25 critical minerals, 36 drugs for rare diseases

Sat, Feb 01, 2025

Budget 2025 Announcement: Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.

Budget 2025-26: Finance Minister announces measures for making India a global toy hub

Budget 2025-26: Finance Minister announces measures for making India a global toy hub

Sat, Feb 01, 2025

Budget 2025 Announcement: Union Finance Minister Nirmala Sitharaman, presenting the eighth consecutive Budget of the NDA government, shared the blueprint of a 'Viksit Bharat' and made key announcements, centering primarily on four key segments -- women, youth, farmers, and the poor.

Infrastructure Development: Finance Minister Sitharaman announces Rs 1.5 lakh crore outlay for interest-free loans to states in Union Budget 2025

Infrastructure Development: Finance Minister Sitharaman announces Rs 1.5 lakh crore outlay for interest-free loans to states in Union Budget 2025

Sat, Feb 01, 2025

Budget 2025 Announcement: Finance Minister Nirmala Sitharaman said Rs 1.5 lakh crore will be provided towards 50-year interest free loans to states, for infrastructure development.

Budget 2025: National mission on high-yielding seeds to be launched, says Finance Minister

Budget 2025: National mission on high-yielding seeds to be launched, says Finance Minister

Sat, Feb 01, 2025

Budget 2025 Announcement: India will launch a national mission on high-yielding seeds, Finance Minister Nirmala Sitharaman said on Saturday.

Budget 2025 Memorable Moments: From Finance Minister Nirmala Sitharaman holding tablet in red pouch to major announcement - Here are the key moments of this year's Union Budget

Budget 2025 Memorable Moments: From Finance Minister Nirmala Sitharaman holding tablet in red pouch to major announcement - Here are the key moments of this year's Union Budget

Sat, Feb 01, 2025

Budget 2025 Memorable Moments: From Finance Minister Nirmala Sitharaman holding the tablet in a red pouch to major announcements during the speech - here are the key moments of this year's union budget

Union Budget 2025 : Priyank Kharge Expresses Zero Expectations Ahead of Union Budget 2025

Union Budget 2025 : Priyank Kharge Expresses Zero Expectations Ahead of Union Budget 2025

Sat, Feb 01, 2025

Congress leader Priyank Kharge shared his thoughts on the upcoming Union Budget 2025, stating that he has zero expectations. Watch the video for his full statement and views on the budget.

Union Budget 2025: Meet the key experts behind Finance Minister Nirmala Sitharaman’s team

Union Budget 2025: Meet the key experts behind Finance Minister Nirmala Sitharaman’s team

Sat, Feb 01, 2025

Union Budget 2025: Under the Narendra Modi-led NDA 3.0 government, Finance Minister Nirmala Sitharaman is set to present her eighth consecutive budget in the Lok Sabha on Saturday, February 1. Ahead of the budget speech, take a look at the key figures who have been instrumental in preparing the upcoming Budget:

Union Budget 2025: When R.K. Shanmukham Chetty, ex-Diwan of Cochin Kingdom and country's 1st Finance Minister, presented Independent India's 1st budget

Union Budget 2025: When R.K. Shanmukham Chetty, ex-Diwan of Cochin Kingdom and country's 1st Finance Minister, presented Independent India's 1st budget

Fri, Jan 31, 2025

Union Budget 2025: Nirmala Sitharaman is set to present her record 8th consecutive budget on February 1, 2025. She will come closer to the record of Morarji Desai, who presented 10 budgets in inconsecutive terms. But it was R.K. Shanmukham Chetty who presented Independent India's first budget in November 1947.

Union Budget 2025: Stock markets to remain open for special trading session on Saturday; check out full schedule

Union Budget 2025: Stock markets to remain open for special trading session on Saturday; check out full schedule

Thu, Jan 30, 2025

Meanwhile, MCX will also hold a special trading session on Union Budget Day. MCX said trading will take place from 9:00 AM to 5 PM A special session will be conducted from 8:45 AM to 8:59 AM, while the client code modification session will be available until 5:15 PM.

18% GST is charged on Health Insurance !

18% GST is charged on Health Insurance !

Wed, Jan 29, 2025

Currently, maximum tax exemption of up to Rs 50 thousand is available on health insurance in section 80D, 18% GST is levied on health insurance, GST on health insurance should be removed, the exemption limit in section 80D should be increased.

Budget 2025 Expectations: Industry body CII hopeful for steps to augment investment, consumption demand

Budget 2025 Expectations: Industry body CII hopeful for steps to augment investment, consumption demand

Tue, Jan 28, 2025

Budget 2025 Expectations: With the Union Budget 2025 announcement just around the corner, all eyes are on Nirmala Sitharaman as she prepares to present her eighth consecutive budget on February 1. Amid these expectations, CII has shared its priorities for the upcoming budget to augment investment and consumption demand.

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