In this article, we take a look at how irrespective of the income level you are at, there is more money in your pocket thanks to either tax cuts, EMI reductions or a combination of both. (AI image) This Diwali, you have more disposable income in your hands thanks to a triple bonanza of government’s…
In case the refund status is shown as processed with refund due, the next step is to check if the refund determined has been released or not. (AI image) By Amarpal S. Chadha and Shanmuga PrasadITR filing FY 2024-25 income tax refund status: With improved technology and faster processing systems, income-tax refunds are now issued…
Poland’s president, Karol Nawrocki, has approved a new law that removes personal income tax for parents raising at least two children.The move is aimed at supporting families, boosting household income, and stimulating the economy. Details of the Bill The bill was presented in August. It removes the income tax obligation for families earning up to…
England coach Paul Collingwood England’s assistant coach Paul Collingwood’s disappearance, citing “personal reasons,” has created quite a stir ahead of the Ashes.Collingwood’s last public media appearance came during England’s Third Test in Hamilton, New Zealand, last December.Paul Collingwood, England’s first-ever World Cup-winning cricket captain, is unlikely to be included in England’s backroom team for the…
Net direct tax revenue recorded a growth of 6.33 per cent so far in the current fiscal, reaching over Rs 11.89 lakh crore till October 12, driven by higher corporate tax collections and slower refund issuances, PTI reported. Refunds issued during this period dropped 16 per cent to Rs 2.03 lakh crore.According to official data,…
Niti Aayog CEO B V R Subrahmanyam NEW DELHI: Goverment’s policy think tank Niti Aayog CEO B V R Subrahamanyam on Friday weaved examples – from Amitabh Bacchan’s iconic film ‘Deewar’ and the detention of a pickpocket – to push for complete decriminalisation of 12 offences under the Income Tax Act and resolving them through…
The US Internal Revenue Service (IRS) has announced the new federal income tax brackets and standard deductions for 2026, offering some relief to Americans as they prepare for next year’s tax returns.The IRS usually makes these adjustments in October or November to prevent what’s known as “bracket creep.” This occurs when inflation pushes taxpayers into…
After the removal of GST on insurance from 22 September, all insurance companies passed on the benefits to policyholders. (AI image) Insurance buyers may be feeling happy after the removal of GST, but agents and distributors are feeling the pinch. Insurance companies have reduced the commissions payable to distributors of insurance products to offset the…
NEW DELHI: Supreme Court on Monday decided to examine a plea challenging the constitutional validity of Securities Transaction Tax (STT) imposed on stock market participants and sought a response from the Centre on a petition filed by a trader who alleged it violated the principle of double taxation. STT was introduced 2004 and is currently…
NEW DELHI: Govt’s policy tank Niti Aayog proposed a comprehensive designed framework to enhance tax certainty and predictability for foreign investors. It recommended the introduction of an optional, industry-specific presumptive taxation scheme for foreign firms.Releasing a working paper on Friday, it also backed broader legislative clarity, administrative efficiency, robust dispute resolution mechanisms, and strategic alignment…