'Among corporates, about 60% of income is now reported under the new tax regime.'
Young Indian Grandmaster Nihal Sarin emerged champion at the Tata Steel Chess India tournament on Friday, clinching the Rapid title just a day after the passing of his maternal grandfather, who had introduced him to the sport.
Five-time world champion Viswanathan Anand recovered from an early setback to register two victories and emerge as joint leader with Nihal Sarin after six rounds of the Tata Steel Chess India Rapid, in Kolkata, on Thursday.
Tata Steel Chess: Anand, Niemann in joint lead after three rounds of Rapid
The Budget announcement of zero tax for earnings upto Rs 12 lakh per annum and the rejig of tax slabs across the board should prompt more than 90 per cent of individual taxpayers to embrace the new tax regime as compared to the about 75 per cent as of now, CBDT Chairman Ravi Agrawal said. Agrawal also highlighted the government's focus on "non-intrusive" tax administration through enhanced use of Artificial Intelligence (AI) and simplified tax processes for common taxpayers. He emphasized the benefits of the new tax regime (NTR), which offers simple calculations and allows taxpayers to file their ITR without professional help. The CBDT chief stated that the Budget provisions related to income tax payment benefit all income earners, not just those earning Rs 12 lakh per annum, creating a positive sentiment in the economy and propelling growth. The department is also harnessing technology, including AI and data analytics, to widen and deepen the tax base, resulting in increased compliance and tax revenue. Agrawal further highlighted the positive impact of data availability and simplified tax processes on compliance rates, citing examples of taxpayers filing revised returns and paying taxes after being prompted by the department's data analysis.
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
Gukesh is currently sharing the 8th spot on 1.5 points along with Abdusattorov and Duda.
The Central Bureau of Investigation (CBI) conducted searches at the residence of former Chhattisgarh Chief Minister Bhupesh Baghel in Raipur and Bhilai on Wednesday. The agency also searched the residences of a senior police officer and a close associate of the former chief minister. The CBI is tight-lipped about the matter in which the searches are taking place. Further details are awaited. Recently, the Enforcement Directorate had conducted searches at Baghel's residence in connection with an alleged liquor scam case.
'Going forward, the encouragement would be to move to the new tax regime.'
Temasek is nearing a deal to acquire a 10% per cent stake in Haldiram Snacks Foods, valued at $10 billion.
The ED said Das stated that his first statement given to the agency on November 3 last year in which he cited Baghel's name was "true and correct".
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
The party fielded Maneka Gandhi from Sultanpur, while Uttar Pradesh minister Jitin Prasada has replaced Varun Gandhi in Pilibhit.
The curtailed squad that is now travelling to the Mexican capital include Rakshitta Ravi, Bommini Mounika Akshaya and Amulya Guruprasad among girls while Harshavardhan GB, Pranav Anand, Dushyant Sharma and
The BJP has dropped C T Ravi, a leader from Karnataka, Dilip Saikia, a Lok Sabha MP from Assam, as its general secretaries, and Vinod Sonkar, Harish Dwivedi, both Lok Sabha MPs from Uttar Pradesh, and Sunil Deodhar as secretaries.
Readers tell us how they are celebrating the Tiranga on the 75th Independence Day.
Esports to breakdancing, Hangzhou will set the trend for future of sport
The BJP's defeat in Delhi could turn into a larger national swing, but Prime Minister Modi and his party have enough time to tweak the party's policy agenda and project a more humble, secular, and inclusive image, say Ravi Agrawal and Harmeet Shah Singh
Prime Minister Narendra Modi's real test will be whether he can bring a longer-term vision to India's foreign policy planning, says Ravi Agrawal.
India's shooters clinched a gold and two silver medals on Thursday, the second day of competition, to remain on top of the standings in the 12th Asian Airgun Championships, in Taoyuan, Taipei. Ravi Kumar and Elavenil Valarivan won silver in the senior 10 metres air rifle mixed team event while it was a 1-2 for India in the corresponding junior event on yet another profitable day.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
India's hopes in the Under-18 Open brightened as R Praggnanandhaa outclassed compatriot P Iniyan in the highly-anticipated battle between two Indian Grand Masters in the World Youth Chess Championship, in Mumbai.
An inside look at the FDCI x Lakme Fashion Week.
R Praggnanandhaa emerged as unconquered king in the World Youth Chess Championship, in Mumbai, claiming the gold in the Under-18 Open category on Saturday.
The remark by Agrawal was expunged by the chair even as it came for a strong condemnation from the BJP.
'If I had earned money as an MLA, I would have been sad to lose my seat.' 'But I have not earned money. Instead, I have earned respect.'
India coach Rahul Dravid has indicated that the team management may take some tough selection decisions going forward and emphasised on the need to have clear communication with the players.
It would be a chance lost if India cannot learn from and lean more on China to kick-start trade, infrastructure programmes, and increased ties, says Ravi Agrawal
Magsaysay award-winner ' Rajendra Singh and two others on Saturday quit the National Ganga River Basin Authority, chaired by Prime Minister Manmohan Singh, protesting the government's "negligence" of the river. Besides Singh, two other NGRBA members -- Ravi Chopra and R H Siddiqi -- also submitted their resignation letters to Dr Singh, expressing solidarity with noted environmentalist G D Agrawal, who is on a fast-unto-death to press for the cleansing of Ganga.
India are well-placed to pocket a few medals in the World Youth Chess Championship, with Grand Master R Praggnanandhaa all but likely to lead the charge with a gold medal.
It will not be an easy task for a struggling Punjab side to stand up to the challenge thrown by a RCB team
The development followed the arrest of chartered accountant Rajesh Kumar Agrawal by the ED.
Opposition parties on Thursday launched a vociferous attack on the Centre over its handling of the farmers' agitation, callings its dialogues with the protestors 'monologues', even as the ruling Bharatiya Janata Party defended the new laws asserting that its government is committed to the welfare of peasants and increase their incomes.
It was the relentless pursuit of justice over a decade by a group of senior citizens that resulted in the Supreme Court's order for demolition of the illegal 40-storey twin towers of a real estate group in Noida.
Revenue Minister Brijmohan Agrawal, Home Minister Ramvichar Netam and Health Minister Amar Agrawal proposed the name, which was supported by all others. All newly elected legislators were present at the meeting.
Only two Indians have scored a 50 in the first innings of a debut Test outside India: Sunil Gavaskar in 1971 and Mayank Agrawal in 2018.
Rajya Sabha MP and Lalu Prasad Yadav's daughter, along with her husband Shailesh Kumar, are alleged to have entered into benami deals for purchase of a farm house in Delhi.
'Under the more strident Modi version of Hindutva, Nehru has almost become a contemporary political figure.' 'The ruling party knows that without total erasure and distortion of Nehru, their fantasies will always be wobbly.'
Three expert members -- Rajendra Singh, Ravi Chopra and Rashid Siddiqui -- have resigned from the National Ganga River Basin Authority.
Given the controversy over Uttar Pradesh's population control moves, Hemant Shivsaran/Rediff.com digs deep to find out how many children BJP MLAs in UP have.
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