Page 3 - Latest Updates on Income tax
A change of heart on taxes and tariffs
There is much to commend in the Budget, especially the substantial increase in capital expenditure
Tax proposals a mixed bag
Unlike recent Budgets, this year most taxpayers are in for a pleasant surprise with rationalisation of rates and slabs, which reduce the effective tax burden. In balance, it's a mixed bag
Up but not out of the woods: Pain points & what's on offer in Budget
There was a 7 per cent year-on-year decline in the January numbers reported by the country's largest manufacturer Tata Motors
 "Up but not out of the woods: Pain points & what's on offer in Budget")
From capex outlay to tax slab rejig, seven big wins from the Budget
The government's focus on ease of doing business and the expanded corpus for the credit guarantee scheme will mean MSMEs have a lot to gain from this Budget
 "From capex outlay to tax slab rejig, seven big wins from the Budget")
Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24
Collections from Customs duty are expected to rise by 11% to Rs 2.33 trillion, from Rs 2.10 trillion in the revised estimates
 "Govt projects 10.5% growth in revenue from taxes to Rs 18.23 trn in FY24")
Budget 2023-24: Relief to middle class set to spur private consumption
The government plans to collect just over Rs 9 trillion via personal income tax in FY24
 "Budget 2023-24: Relief to middle class set to spur private consumption")
Budget 2023 a roadmap for resurgent India; aims to get fiscal house in order
Budget 2023: This budget may galvanize an effective AI ecosystem necessary to nurture buoyancy in GST revenues and improve taxpayer morale and trust in the system
 "Budget 2023 a roadmap for resurgent India; aims to get fiscal house in order")
I-T benefits in union budget to propel deposit growth: Bandhan Bank MD
Speaking on the budget proposal for simplifying the KYC process, Ghosh hailed it as a noble effort
 "I-T benefits in union budget to propel deposit growth: Bandhan Bank MD")
Compute your income tax liability after Budget 2023 changes here
No tax will have to be paid for income up to Rs 3 lakh
 "Compute your income tax liability after Budget 2023 changes here")
Budget 2023-24: Where does the rupee come from, and where does it go?
Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings
 "Budget 2023-24: Where does the rupee come from, and where does it go?")
Budget 2023 proposals will put India firmly back on the FII's radar
The measures, overall, will push private capex higher at a time when the global economy is facing recessionary headwinds, says Andrew Holland
 "Budget 2023 proposals will put India firmly back on the FII's radar")
Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
 "Tax sops, Capex push, Adani rout: Why Sensex swayed 2,000pts on Budget day?")
Rebates to slabs: Budget's key changes in Income Tax regime explained
This move indicates that the old regime will slowly be wound up
 "Rebates to slabs: Budget's key changes in Income Tax regime explained")
Budget delivers a big boost for consumption-related stocks: Analysts
The Budget has put more money in the hands of the people through relief from Income Tax, which is a very positive step, analysts said
 "Budget delivers a big boost for consumption-related stocks: Analysts")
Budget 2023: Income tax slabs changed under new tax regime. Details here
Income Tax Rates and Slabs: Under the new tax regime, the highest tax rate of 30% will be levied on income above Rs 15 lakh
 "Budget 2023: Income tax slabs changed under new tax regime. Details here")
FM should cut cess, taxes on fuels and surcharge on income tax: Chidambaram
Finance minister must find out answers as to why India Inc. is not investing, says Congress leader
 "FM should cut cess, taxes on fuels and surcharge on income tax: Chidambaram")
Tax harvesting: Strategy for offsetting losses that needs careful planning
Equity investors should go for the strategy before March 31 and reduce their liability on capital gains
 "Tax harvesting: Strategy for offsetting losses that needs careful planning")
Finance Ministry contemplating sops for middle class in upcoming Budget
The government has not raised income tax exemption limit from Rs 2.5 lakh which was fixed in 2014 by the then Finance Minister Arun Jaitley in his first Budget
 "Finance Ministry contemplating sops for middle class in upcoming Budget")
Centre expected to introduce new income tax slabs in Budget 2023: Report
Currently, there are six slabs in the new personal income-tax regime, starting with the Rs 2.5-5 lakh income bracket taxed at 5 per cent
Budget 2023: Salaried class wants higher tax-free slab as inflation bites
From a tax-free slab of Rs 5 lakh to a higher exemption limit under Section 80C, here is what experts are hoping for in Budget 2023
 "Budget 2023: Salaried class wants higher tax-free slab as inflation bites")
