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 ...
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 ...
New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer ...
Reliance’s ability to legally avoid corporate income taxes for 30 years demonstrates the company's strategic financial acumen ...
India's personal ... of the existing tax framework. The intention is to simplify compliance for taxpayers by reducing the complexity of the current Income Tax Act of 1961. It was announced that ...
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 ...
The Indian government has taken a stricter stance on crypto taxation norms in the Budget 2025 announcement. The government has introduced a new Section-285BAA under the Income Tax Act of 1961 ...
Finance Minister Nirmala Sitharaman on Saturday said that she was hoping to bring the Income Tax Bill in the coming week and thereafter it will go to a parliament committee. Talking to reporters ...
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Meet 27 Finance Ministers Of India Since Independence: A Look Back At The Union Budget From 1947 To 2025On February 1, 2025, Finance Minister Nirmala Sitharaman is scheduled to deliver her eighth consecutive Union Budget. Under ...
is set to replace the current Income Tax Act, 1961, according to government sources cited by news agency PTI. The main objective of the bill is to streamline and modernise India's tax system by ...
The issue arose due to a conflict between two business tax laws in India: Income Tax Act: Determined the company ... Sunil Mittal, creates history by making first video call from ...
According to sources, the new income tax bill will now be introduced in the Parliament next week and would be sent to Parliament's Standing Committee on Finance. NEW DELHI: The Union Cabinet on ...
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