A taxpayer whose deductions and exemption claims are less than Rs 3.75 lakh annually would be advised to opt for the new income tax regime and pay less tax than they gave in the old regime, a senior finance ministry officer said on Wednesday. The Income Tax Department has arrived at the figure after making due calculations for ensuring a "hassle-free and less tax rate" filing regime for the assessees, he said. Union Finance Minister Nirmala Sitharaman, while presenting the Budget for 2023-24, said the government has made the new income tax regime more attractive for taxpayers bringing "substantial changes" in its structure for the benefit of the middle class.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers your home loan queries.
The Trinamool Congress (TMC) on Sunday alleged that Dinesh Trivedi, who resigned from the Rajya Sabha on Friday, took the 'House for a ride' and was 'allowed' to use the floor of the House for his 'devious political ends'.
Former Tata Group chairman Ratan Tata on Thursday questioned, in the Supreme Court, the government's motive in tapping telephonic conversations of Niira Radia with top politicians, bureaucrats and businessmen including him, and suggested it might have been done for political purposes.
Finance Minister Nirmala Sitharaman in her fifth Union Budget made five major announcements for the income tax assesse. She announced no changes in the old tax regime and confined her relief measures to the new tax regime. There have been no changes under the old tax regime.
Parliament proceedings were adjourned for the day on Monday following protests by the opposition which has been demanding a statement from Prime Minister Narendra Modi in the House on the Manipur issue. In the Rajya Sabha, the opposition kept insisting on a discussion under Rule 267 of the House.
HR Guru Mayank Rautela offers practical advice.
A financial adviser can provide invaluable assistance in helping you navigate the very complex world of investment. But do you really need one?
Sisodia was arrested after nearly eight hours of questioning on various aspects of the excise policy for 2021-22, which the probe agency says suffered from irregularities both in its formulation and implementation, allegedly intended to benefit people with links to the AAP.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
The Asia-Pacific head of United States-based cab service Uber was questioned by the police for the second consecutive day on Wednesday in connection with the rape of a 27-year-old finance executive by the company's driver, during which he was asked about details of their safety features, details of drivers among others.
Can this growth in GST collection be sustained in the coming years? asks A K Bhattacharya.
The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
'Punjab is a border state and no one knows the ISI's game plan. It can stoop down to any level.'
The SET's findings have now been taken on record by the Central Bureau of Investigation which recently raided the 2008-batch Indian Revenue Service officer after it filed an FIR against him for corruption and alleged violation of rules in the raids that took place at the Cordelia cruise berthed at the Mumbai coast on October 2, 2021.
Opposition leaders slammed the Centre on Wednesday for its 'limited' focus on important sectors like health and education in the Budget for 2023-24 fiscal.
While the Raj Bhavan had on Thursday night said it placed the unprecedented 'dismissal' order on hold, the DMK regime asserted it would pick an appropriate action plan to counter and fight the move against the minister by Ravi, even though he backtracked from it.
The ban has been in force since last Friday.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The submissions were made by the CBI in a short written reply while opposing the senior Aam Aadmi Party leader's bail plea, which it said was devoid of any merit and was an attempt to misuse the intricacies of law to thwart the progress of investigation in the case.
They raised slogans against the Bharatiya Janata Party and the central agencies.
HR Guru Mayank Rautela offers practical advice.
A bit of economic reforms stalled and decisions delayed -- what Narayana Murthy spoke of -- don't hurt if a country's compassionate and inclusive social fabric has survived intact; if the country is happy, observes Shyam G Menon.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
Mr Adani has a fight on his hands. It is not a fight to the death, asserts T N Ninan.
The government has questioned two members of Parliament whose names figured among a list of 498 persons with offshore bank accounts in locations like the British Virgin Islands.
Join Rajiv Raj of Credit Vidya on how RBI's rate cut will affect your dream of buying a home.
Will Annamalai's attacks on the DMK revert the anti-BJP feeling in Tamil Nadu, asks N Sathiya Moorthy.
The Right to Information should not be limited to right to know but it should empower every citizen to question those in power, Prime Minister Narendra Modi said on Friday.
Rajan said whatever answer he gives on Modi will be 'problematic'
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Tax experts G Srikanth and Anil Rego will answer all your tax queries in two different chats between 1 pm and 4 pm on Monday, February 3.
To be sure that you are committing your money to the right person, you must ask these questions to your financial planner. There is no point in cribbing after you have committed your money! Is there?
In Kerala, the use of black ranges from such convenience to strictures by community and religion to fashion and personal choice. One would have to be really insecure or too fond of the well settled life to see black solely as a badge of protest, points out Shyam G Menon.
The government on Monday ruled out making public the RBI report detailing the reasons why the central bank could not keep inflation within the targeted 6 per cent upper limit for the three consecutive quarters. "Yes sir, RBI has furnished a report to the central government, as mandated under Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI Monetary Policy Committee and Monetary Policy process Regulations, 2016," minister of state for finance Pankaj Chaudhary said in a written reply. The said provisions of the RBI Act, 1934, and regulations therein does not provide for making the report public, he said.
The race to replace Boris Johnson as the Conservative Party leader and the British prime minister entered the final countdown stage on Friday, when voting officially closes for Tory members to choose between former chancellor Rishi Sunak or Foreign Secretary Liz Truss.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
'While I am personally pained at the raids on Dr Roy's home, I want to ask five questions of those crying themselves hoarse over the attack on the "freedom of the press",' says Sudhir Bisht.
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