The Bill is expected to omit references to the old tax regime, officially making the new tax regime the default. However, ...

Very soon the new Income Tax Act-1961 will be replaced by a new Income Tax Act in the country. For this, the Income Tax ...

India’s formal income tax system was first introduced in 1860 by the British to recover losses from the 1857 rebellion. The Income Tax Act was enacted in 1886 and has since undergone multiple ...

Illustration: Dominic Xavier/Rediff.com India's tax system is set for a major overhaul with the introduction of the Direct Tax Code (DTC) 2025, which will replace the decades-old Income Tax Act of ...

Remember, the Government of India has made the new income tax regime a default regime for taxpayers, with the option to choose the old regime. The Income Tax Act of 1961 provides taxpayers various ...

Cryptocurrency traders in India may face significant tax penalties on previously undisclosed profits under new amendments to the country’s tax laws. Cryptocurrencies will be included under ...

The Bill will include the recent changes in income tax rates, slabs and TDS (Tax Deducted at Source) provisions will also be ...

Reliance’s ability to legally avoid corporate income taxes for 30 years demonstrates the company's strategic financial acumen ...

Key changes affecting NRIs include greater scrutiny of foreign-earned income. The Indian government will implement enhanced data-sharing agreements with countries involved in Double Tax Avoidance ...

Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through ...

In a major relief to millions of taxpayers, the government has raised income tax exemption limits ... creation, India has had to continue a delicate balancing act between pushing economic growth ...