New Income Tax Bill 2025 New Income Tax Bill 2025 The Income Tax Act, 1961, has governed India’s direct tax system for over six decades. However, with evolving economic conditions, technological advancements, and changes in taxpayer behavior, the need for a simpler, streamlined tax law has become essential. To address this, Finance Minister Nirmala Sitharaman … Read more
Government Collects ₹9,118 Crore from Over 90 Lakh Updated ITRs in Four Years ITRs in Four Years The Indian government’s initiative to promote voluntary tax compliance through Updated Income Tax Returns (ITR-U) has yielded significant results. Over the past four years, more than 90 lakh updated ITRs have been filed, contributing ₹9,118 crore in additional … Read more
Key Changes and Reforms to Watch Out For The upcoming Union Budget 2025 is expected to introduce significant reforms aimed at boosting economic growth, enhancing compliance, and simplifying taxation. Here are the key expectations for Budget 2025: Income Tax Reforms Increased Basic Exemption Limit: The current basic exemption limit of ₹2.5 lakh under the old … Read more
What Is Form 16? Filing your Income Tax Return (ITR) is a crucial financial responsibility for individuals whose income exceeds the basic exemption limit. Timely and accurate ITR filing ensures compliance with tax laws and helps avoid fines or legal complications. Understanding Form 16 is essential for salaried employees to simplify the filing process and … Read more
Income Tax Calculator 2025 Income Tax Calculator 2025 As the ITR filing season for 2025 approaches, taxpayers must decide between the old and new tax regimes to minimize their tax liability. Understanding which regime suits you best can help you save significantly on taxes. Income Tax Calculator 2025 To simplify this decision, the Income Tax … Read more
