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NEW DELHI: The government has introduced four amendments to the Income Tax Act, 1961, relevant for FY 2025-26, but included in the Income Tax Bill, 2025, applicable for FY 2026-27, Union Finance Minister Nirmala Sitharaman has said. The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and pension funds investing in infrastructure from April 1, 2020, to December 31, 2030, subject to notification. The Public Investment Fund (PIF) ...Read More >
Lok Sabha passes two major legislation in a consequentail sitting, the Income-Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025 amid protest by opposition members over SIR. In a brief but consequential sitting on Monday, the Lok Sabha passed two major financial legislations the Income-Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025 amid loud protests by opposition members over the Special Intensive Revision (SIR) of electoral rolls. The Bills were moved by Union Finance M ...Read More >
Imphal, Aug 8 (PTI) Manipur Congress president Keisham Meghachandra on Friday said the Goods and Services Tax (GST) regime poses significant challenges for the state as its economic and infrastructural conditions differ vastly from the rest of the country. In a post on X, Keisham said, "GST -- A One-Nation Tax That Overlooks Manipur's Unique Realities. Manipur is likely to face grave difficulties following the passage of the amendment to the State GST in Parliament yesterday." "The GST regime h ...Read More >
'India should look to add an extra bowler' IMAGE: Ajinkya Rahane has a piece of advice for head coach Gautam Gambhir and captain Shubman Gill- play an extra bowler in the fourth Test at Old Trafford. Photograph: BCCI/X As India gear up for the fourth Test at Old Trafford, former captain Ajinkya Rahane has raised a tactical alarm: the team's all-rounder-heavy approach might be hurting their chances. His solution? A fourth specialist bowler -- even if it comes at the cost of batting depth. Now ...Read More >
New Delhi: Amidst rising inflation, the ultimate goal of people is to earn money. People make various efforts to earn money. People consider it appropriate to earn money by investing in banks as well as post offices, for which they try their best. A few days ago, the bank shocked people by reducing the interest rates on FDs. People have now started moving towards the time deposit scheme of the post office by avoiding banks. There are some specialities of the time deposit scheme of the OST offic ...Read More >
Lucknow, Jul 17 (PTI) To curb illegal mining and transportation, the Uttar Pradesh government is deploying advanced technologies under the Integrated Mining Surveillance System (IMSS), a release said on Thursday. Mining activities are already being monitored through drones, geo-fencing, RFID tags, and AI-powered check gates. Now, the state is set to introduce 'Weigh-In-Motion' (WIM) technology to accurately track vehicle overloading. Also Read | 'Arvind Kejriwal Used Government Funds to Buy Mo ...Read More >
New Delhi: The Income Tax Bill 2025, set to be moved in the monsoon session of Parliament to simplify the direct tax law, will set the stage for another round of reforms which will be more substantive in nature in subsequent years, said two people informed about the discussions in the government The finance ministry is of the view that once the over-six-decade-old Income Tax Act, 1961 is simplified and made more readable, targeted reforms can be achieved in taxation of personal and corporate in ...Read More >
PRNewswire Chandigarh [India], July 15: Chandigarh University, India leading private university, in collaboration with job platform Apna and investment firm Venture Catalysts (VCats) have launched Campus Tank, India first university-led Startup launch-pad for young innovators below the age of 30 to pitch their ideas and get funding of $1 Million to launch their startups along with expert venture guidance, strategic ecosystem alliances and immersive startup incubation. APNA which is India larges ...Read More >
India's tax engine is revving harder than ever. But are there enough drivers? India's tax system has undergone significant improvements in recent years. Taxpayers are paying advance tax on time and receiving refunds as early as seven days after filing their returns. But while India's tax engine is revving harder, are there enough drivers? Finance Minister Nirmala Sitharaman, in a conclave with the principal chief commissioners of the Central Board of Direct Taxes on June 23, said that the gove ...Read More >
Bengaluru: Small businesses across Karnataka -- including tea stalls, bakeries, salons, and local eateries -- have raised concerns after receiving GST notices based on their UPI transaction volumes. The Commercial Tax Department has issued these notices to entities whose annual digital receipts exceeded ₹40 lakh for goods or ₹20 lakh for services, even if they are not GST-registered. Tax consultants are urging affected traders to respond to the notices within the stipulated deadline to avoid pe ...Read More >
NEW DELHI: Growth in gross direct tax collections moderated to 3.2% in the fiscal year up to July 10, from 4.9% three weeks ago, driven by a slowdown in non-corporation tax. Latest data released by govt estimated gross collections of Rs 6,64,807 crore between April and July 10.Net direct tax collections - which means after refunds - are estimated to have declined 1.3% to Rs 5,62,827 crore on account of a 38% jump in refunds to Rs 1,01,980 crore. Up to June 19, when data was last released, refund ...Read More >
New Delhi [India], July 10 (ANI): The central government has granted tax-saving status to PSU renewable projects financing company IREDA Ltd's bonds under Section 54EC of the Income Tax Act. This will facilitate low-cost fundraising for renewable energy and offer capital gains tax exemption to investors. The Central Board of Direct Taxes (CBDT) under the Ministry of Finance has notified bonds issued by the Indian Renewable Energy Development Agency Ltd. (IREDA) as 'long-term specified asset' u ...Read More >
New Delhi [India], July 10 (ANI): The central government has granted tax-saving status to PSU renewable projects financing company IREDA Ltd's bonds under Section 54EC of the Income Tax Act. This will facilitate low-cost fundraising for renewable energy and offer capital gains tax exemption to investors. Also Read | Ad Legend Prasoon Pandey Turns Film Director: MovieVerse Studios and Ellipsis Entertainment To Produce His Mythological Thriller. The Central Board of Direct Taxes (CBDT) under th ...Read More >
New Delhi, July 4 (SocialNews.XYZ) The Finance Ministry announced on Friday that the tax benefits available under the National Pension Scheme (NPS) will apply mutatis mutandis to the Unified Pension Scheme (UPS), as it is an option under the former. The measure aims to provide further impetus to the UPS. These provisions ensure parity with the existing NPS structure and provide substantial tax relief and incentives to employees opting for the UPS, according to the Finance Ministry statement. T ...Read More >
New Delhi [India], July 4 (ANI): The Finance Ministry has announced that all tax benefits available under the National Pension System (NPS) will also apply to the Unified Pension Scheme (UPS). The announcement is a significant move that will make UPS more attractive for central government employees. Also Read | Israeli Strikes Kill 15 in Gaza, While Shootings Kill 20 People Waiting for Aid, Authorities Say. The Unified Pension Scheme was introduced earlier this year as an option under NPS for ...Read More >
NEW DELHI: In a move aimed at 'cleaning the political space', the Election Commission on Thursday initiated proceedings for delisting 345 regisered unrecognised political parties (RUPPs) that had failed to fulfil the statutory obligation of contesting even a single election in the last six years and the offices of which could not be located at the address mentioned in their registration documents.These 345 RUPPs are registered in different states and Union territories across the country.The Comm ...Read More >
New Delhi, June 27: The Election Commission of India (ECI), under the Chairmanship of Chief Election Commissioner, Gyanesh Kumar along with Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi, has started proceedings for the delisting of 345 Registered Unrecognised Political Parties (RUPPs) which have failed to fulfil the essential condition of contesting even a single election for the last six years since 2019 and the offices of these parties could not be physically located anywhere. A ...Read More >
New Delhi, Jun 26 (PTI) The Election Commission on Thursday said it has started proceedings for delisting of 345 registered unrecognized political parties (RUPPs) which have failed to fulfil the essential condition of contesting even a single election for the last six years since 2019. The offices of these parties could also not be physically located anywhere, the EC said. These RUPPs are from different states and UTs across the country, it said. Since 2001, the EC has carried out exercise of ...Read More >
New Delhi, June 26: The Election Commission of India (ECI) has launched a major cleanup exercise targeting dormant political entities, starting proceedings to delist 345 Registered Unrecognised Political Parties (RUPPs) across the country. These parties, according to the Election Commission, have failed to contest a single election since 2019 and are untraceable at their registered addresses. The move comes under the leadership of Chief Election Commissioner Gyanesh Kumar, along with Election C ...Read More >
India Budget: The Union Budget 2025-26 should prioritise giving tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from ₹3 lakh to ₹5 lakh and lowering tax rates, according to Ernst & Young India (EY India), a global consulting firm. EY India also recommended delaying the tax deduction at source (TDS) on provident fund (PF) interest above ₹2.5 lakh until the withdrawal stage to reduce the compliance burden on taxpayers. Also Read: India to simplify decade ...Read More >
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the ...Read More >
Mumbai (Maharashtra) [India], December 18: The term insurance vs savings plan has already brought a lot of comparisons many people continue to face in the dynamic world of financial planning. Indeed, both are very useful, but they serve two different purposes. Term insurance is used to offer your dependents protection financially while saving plans are useful in accumulating money for use at some later time. In this blog, we have covered the term plan vs savings plan differences, their benefits, ...Read More >
PNN Mumbai (Maharashtra) [India], December 18: The term insurance vs savings plan has already brought a lot of comparisons many people continue to face in the dynamic world of financial planning. Indeed, both are very useful, but they serve two different purposes. Term insurance is used to offer your dependents protection financially while saving plans are useful in accumulating money for use at some later time. In this blog, we have covered the term plan vs savings plan differences, their bene ...Read More >
The United States 10-year government bond yield reached a low of 3.6% in September but has rapidly creeped up to 4.2%, erasing all the rate cut impact. The primary cause is the out-of-control public spending and the lack of confidence among bond investors in the government's ability to manage its public finances. Therefore, it is logical that investors fear an inflation bounce. The United States' government is obsessed with doping GDP with government spending and bloating job figures with publi ...Read More >
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