Diabytes
Income Tax slab News
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With Prime Minister Narendra Modi and President Droupadi Murmu hailing the middle-class in their speeches, the taxpayers must be looking at the budget keenly.
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The PHDCCI delegation has presented the pre Budget memorandum to Finance Minister Nirmala Sitharaman.
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As per reports in the media, FM Sitharaman may announce to reduce personal tax rate for individuals earning Rs 10 lakh per year.
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In an explanatory tweet, finance ministry has said that some misleading information related to new tax regime is being spread on some social media platforms.
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Super tax is levied against people who earn high incomes.
The topics of equity and fairness are central to the super tax discussion.
Bill Gates has stated that he wants the ultra-rich to pay more taxes.
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Income tax in India is calculated based on factors like gross income, deductions, and tax slabs, supporting government initiatives.
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Finance Ministry announced to offer a marginal tax relief to small taxpayers under the new tax regime. This relief will be available from April 1, 2023 for the financial year of 2023-24.
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Now if your earning is 7 lakh or less then no tax will have to be paid. The Finance Minister said that the government has reduced the compliance burden on the taxpayers. In this budget, many announcements have been made by Finance Minister Nirmala Sitharaman.
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Union Budget 2023 LIVE Updates: An individual with income of Rs 15 lakh will have to pay Rs 1.5 lakh tax, down from Rs 1.87 lakh under new tax structure, FM Sitharaman has announced.
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Union Budget 2022-23 was presented today. Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament. The biggest thing about this budget is that no change has been made in the income tax slab.
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For those earning less than Rs 2 crore per annum, there was no change in tax rates and the slabs also remained unchanged.
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If you are confused as to how much income tax you need to pay from your earnings, here's a list of details that you should remember.
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Finance Minister gave reprieve on income tax for those earning up to Rs 5 lakh.
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To restrict any rise in the commodity prices post goods and services tax (GST) implementation, Centre has proposed an 'anti-profiteering' measure to ensure that trade and industry pass the benefits of reduction in tax rates to consumers.
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