In Budget speech, FM Sitharaman said this will reduce tax burden & leave more money in their hands. The govt also raised TDS exemption limit & TCS threshold on foreign remittances.
Income tax is such a steady and reliable revenue stream, and an increasingly vital one, that the government simply cannot afford to do anything that would curtail it.
Slump in corporate sector, overall slowdown in economy are key reasons, but analysts assure the slowdown is not likely to impact govt's fiscal projection for the year.
The I-T dept Thursday released time-series data on direct tax collections between 2000-01 & 2023-24, showing an increasing reliance on direct taxes versus indirect taxes.
Rules will apply only to people involved in serious financial irregularities, or those with significant income tax dues pending, according to a change proposed by govt last week.
Given the weakness in consumption and elevated inflation, Budget 2024 was expected to provide a cushion to individual taxpayers. Some comfort has been provided to those who opt for the new tax regime.
July 2024 was first time no official release on GST collections was issued. Collections were Rs 1.74 lakh crore in June & average collections this fiscal yr are highest ever, it is learnt.
Madhya Pradesh government paid Rs 79.07 lakh towards income tax of its ministers in 2023-24, it is learnt, and figure for the past five years cumulatively stood at Rs 3.17 crore.
A government can afford to make tough decisions in its early days. Resisting populist concerns, we need long-term reform such as broadening the tax base and removing deductions.
Mamdani’s politics feels unusual compared to India’s current climate. He unapologetically foregrounds Muslim identity at a time when doing so in India invites scrutiny.
On 4 November 2025, NCLAT bench, comprising Chairperson Justice Ashok Bhushan and Member Arun Baroka, noted that WhatsApp and Meta are distinct legal entities.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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