Page 3 - Latest Updates on Income tax
Push for new income-tax regime: Pain points & what's on offer in Budget
India's taxation rates had been higher than others like the US or Brazil, though lower than other peers
 "Push for new income-tax regime: 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")
Want to make exemption-free tax regime attractive for people: FM Sitharaman
Sitharaman said large macroeconomic considerations had been kept in mind, and fiscal consolidation had not been ignored
 "Want to make exemption-free tax regime attractive for people: FM Sitharaman")
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
A change of heart on taxes and tariffs
There is much to commend in the Budget, especially the substantial increase in capital expenditure
'Reward the rich' politics
With a 10% tax cut for the super-rich, has the Modi government lost it? If this is what we believe, we are still caught in oldthink in our political economy
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")
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")
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 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")
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")
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")
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")
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
