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Budget 2025: No income tax payable on income up to Rs 12 lakh

Budget 2025: No income tax payable on income up to Rs 12 lakh

by AIP Online Bureau | Feb 1, 2025 | Eco/Invest/Demography, Indian News, Policy, Wealth Management/ Philanthropy

Finance Minister Nirmala Sitharaman In the new tax regime, the revised tax rate structure is Rs 0-4 lakh (zero tax), Rs 4-8 lakh (5 per cent), Rs 8-12 lakh (10 per cent), Rs 12-16 lakh (15 per cent), Rs 16-20 lakh (20 per cent), Rs 20-24 lakh (25 per cent), and above...

90k salaried individuals withdraw wrongful tax deductions: Rs 1,070 cr

by AIP Online Bureau | Jan 16, 2025 | Indian News

During investigation, it was revealed that such individuals are employees of organisations operating in diverse fields including PSUs, big corporations, MNCs, LLPs, Private Ltd Companies, etc, sources said. Also, most of them who claimed wrongful deductions were...

Govt plans to simplify its income tax filing rules in new Budget

by AIP Online Bureau | Jan 8, 2025 | Eco/Invest/Demography, Indian News, Policy

The possible changes involve simplifying the language and rationalizing information by using formulas and tables, and won’t include any adjustments to tax rates and policy, the people said New Delhi: India’s government plans to simplify its income tax filing rules to...

GST Council to decide on insurance premium tax; major rate rejig unlikely

by AIP Online Bureau | Dec 20, 2024 | Eco/Invest/Demography, Health, Indian News, Life, Non-Life, Policy

A final decision of the insurance taxation under GST is likely on Saturday as most states are in favour of lowering taxes on premium. New Delhi: The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance...

UK employers warn tax rise will hit investment and pay

by AIP Online Bureau | Dec 1, 2024 | Eco/Invest/Demography, International News, Workplace/Employee Benefits

Prime Minister Keir Starmer and his finance minister Rachel Reeves – who say speeding up economic growth is their top priority – argue the move will allow them to spend more on public services including the National Health Service British employers have been caught...
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