Income Tax Slabs Budget 2025 Live: No income tax up to Rs 12 lakh income! 30% tax slab now after Rs 24 lakh - big income tax relief for middle class
Finance Minister Sitharaman announced a substantial tax benefit, ensuring that individuals earning up to Rs 12 lakh annually ...
No tax for up to Rs 12.75 lakh income for salaried under new tax regime as Section 87A tax rebate hiked in Budget 2025
Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through the tax rebate than changing the tax slabs. This is because to get this tax ...
Big gain for NRIs: Finance Bill 2025 widens IFSC tax exemptions to include FPIs, boosting foreign investments
The Income-tax Act's section 10(4E) previously limited exemptions on income from derivative transactions to non-residents ...
Tax Guru19h
Society not entitled to exemption under sections 11 and 12 due to non-filing of return of income
ITAT Raipur held that exemption under section 11 and section 12 of the Income Tax Act not admissible to assessee society due to non-furnishing of return of income as required u/s. 12A (1) (b) of the ...
Tax Guru17h
10 Important changes in Union Budget 2025 – Simplified – Direct taxes
Period of registration of smaller trusts or institutions – To reduce the compliance burden for the smaller trusts or institutions, it is proposed to increase the period of validity of registration of ...
ULIP profit to be taxed as capital gains, like equity mutual funds
Issuing a clarification on income on redemption of ULIPs, finance minister Nirmala Sitharaman on Saturday announced that ULIPs that do not qualify for the exemption under clause (10D) of section 10 wi ...
New income tax slabs for FY 2025-26 in Budget 2025: 30% tax now starts at Rs 24 lakh, 25% tax rate introduced for incomes between Rs 20-Rs 24 lakh
The new tax regime is the default tax regime. The highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh. However, the new tax regime offers limited deductions to the taxpayer.
How Budget 2025 makes studying abroad, travelling less tedious
Finance Minister Nirmala Sitharaman revised the Tax Collected at Source (TCS) rates on foreign remittances on Saturday. The ...
87A rebate will fail to make your tax nil despite income below Rs 12 lakh in these cases, Budget 2025
No Section 87A tax rebate on special rate incomes like short term capital gains, long term capital gains, and others, said ...
Returns from ULIP investment to be taxed as capital asset in these conditions, clarifies Budget 2025
T he Finance Minister has clarified that Unit Linked Insurance Plans (ULIPs) on whom clause (10D) of section 10 does not apply is a capital asset. Accordingly any profit and gains ...
EpicQuest Education Group International Limited: EpicQuest Education Announces Fiscal Year 2024 Financial Results and an Operations Update
Revenue Increased by a Robust 43% as International Student Enrollment Continues to Climb MIDDLETOWN, Ohio, Jan. 31, 2025 /PRNewswire/ -- EpicQuest Education Group ...
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8 tax deductions for homeowners to lower their income tax
You don't buy a house for the tax deductions. It's just a nice side benefit. And usually very much appreciated, considering all the extra expenses associated with homeownership. Here are eight tax ...