Page 18 - Latest Updates on Income tax
Budget session LIVE updates: Congress protests against Anurag Thakur in LS
Budget 2020 Live: Finance Minister Nirmala Sitharaman today presented the annual Union Budget 2020-21 in Parliament. Follow Business Standard for LIVE updates
 "Budget session LIVE updates: Congress protests against Anurag Thakur in LS")
Budget 2020: NRI tax to only impact India earnings, govt clarifies
The Union Budget had proposed on Saturday that NRIs have to pay up taxes on global earnings, if they're not paying in any other jurisdiction or country, generating much debate
 "Budget 2020: NRI tax to only impact India earnings, govt clarifies")
Budget: Those taking I-T exemptions will gain if they shift, says AB Pandey
The new regime is simple, one has to see the exemptions one was taking earlier and compare the new tax rates without those exemptions, the Revenue Secretary said
 "Budget: Those taking I-T exemptions will gain if they shift, says AB Pandey")
Budget 2020: Need for an independent council to mediate with taxpayers
It is important to introduce an efficient dispute resolution mechanism to ease the pain of an overburdened dispute resolution machinery
 "Budget 2020: Need for an independent council to mediate with taxpayers")
Increase SIPs if markets fall
Though boring, these instruments work well if there is a broad bear market
Glide path for direct tax
Exemption-free option a good move, but clarity needed
 "Glide path for direct tax")
After foreign companies, budget gives income tax exemption to ISPRL
Tax changes on ISPRL will be effective April 1
 "After foreign companies, budget gives income tax exemption to ISPRL")
FM defends new tax regime, says it will benefit taxpayers in some brackets
She defended the new scheme by saying that it will benefit some taxpayers falling in certain brackets, if not all
 "FM defends new tax regime, says it will benefit taxpayers in some brackets")
Nirmala Sitharaman's Budget 2020: Trust, the new mantra in tax policy
The Centre's commitment to reduce harassment of a sound taxpayer reaffirmed
 "Nirmala Sitharaman's Budget 2020: Trust, the new mantra in tax policy")
Budget 2020: Centre kicks off immunity scheme to settle income tax disputes
Waiver from interest and penalty if paid by March 31; estimated value of contested money over Rs 5 trillion
 "Budget 2020: Centre kicks off immunity scheme to settle income tax disputes")
Budget 2020: Now, Amazon orders to cost more if this amendment is enacted
In order to provide relief to small businessman, it is proposed to provide exemption to an individual and Hindu Undivided Family who receives less than Rs 5 lakh and furnishes PAN/Aadhaar
 "Budget 2020: Now, Amazon orders to cost more if this amendment is enacted")
Budget 2020: NRIs not paying tax in other countries will be taxed in India
This means if an Indian citizen is not a resident of any country, they will now be deemed an Indian resident and their income will be taxed here
 "Budget 2020: NRIs not paying tax in other countries will be taxed in India")
Budget 2020: Lower tax rate is great but do we need 'minimum govt'?
Is PPP the magic bullet for everything the government wants to do?
Budget 2020 ready reckoner: 10 questions you always wanted to ask
Income tax rates have been slashed, but can be availed only if the taxpayer lets go of most exemptions
 "Budget 2020 ready reckoner: 10 questions you always wanted to ask")
New I-T regime to curb investments, will impact market negatively: Experts
The Union Budget for 2020-21 has proposed new income tax slabs and reduced the tax rate for different slabs
Budget 2020: A K Bhattacharya on major takeaways for the Indian economy
What did the finance minister have in the Budget for the Indian economy? Listen to the podcast to know
 "Budget 2020: A K Bhattacharya on major takeaways for the Indian economy")
Taxpayers opting for new tax slabs to forego deductions on PF, tuition fee
As per the Budget document, an individual taxpayer opting for the new tax regime will not be entitled for deduction under 80C of the Income Tax.
 "Taxpayers opting for new tax slabs to forego deductions on PF, tuition fee")
Govt intends to remove all income tax exemptions in the long run: FM
Speaking at a press conference after presenting her second budget in the Lok Sabha, she said income tax cuts follow reduction in corporate tax rates in September last year
 "Govt intends to remove all income tax exemptions in the long run: FM")
Income Tax slabs to fiscal deficit, all the key points from Budget 2020
Govt estimates economic growth this fiscal year, which ends on March 31, will slip to 5% - its weakest pace since the global financial crisis of 2008-09
 "Income Tax slabs to fiscal deficit, all the key points from Budget 2020")
Budget introduces 5 tax slabs, lower rates for those foregoing exemptions
Under the proposal, people with an annual income of Rs 5 lakh to Rs 7.5 lakh will have to pay a reduced tax rate of 10 per cent; between Rs 7.5 lakh and Rs 10 lakh 15 per cent
 "Budget introduces 5 tax slabs, lower rates for those foregoing exemptions")
