Union Budget & Policy News

Budget 2025 to Feature Simplified Income Tax Rules for Hassle-Free Filing

10 January 2025 at 08:49

The Indian government is set to overhaul the Income-tax Act of 1961 in a bid to simplify tax filing rules, easing compliance for taxpayers and addressing disputes that have escalated to over $120 billion in the past decade.

Posted in Union Budget & Policy | 2634 Views

Mutual Fund Industry Seeks Restoration of Indexation Benefit for Debt Funds in Budget FY26

08 January 2025 at 09:00

The mutual fund (MF) industry is hopeful that the government may restore the indexation benefit for computing capital gains on the sale of debt-oriented funds. ..

Posted in Union Budget & Policy | 1332 Views

Trade Unions Demand Super-Rich Tax and Social Security Reforms in Pre-Budget Meeting

08 January 2025 at 09:00

In a pre-budget consultation with Union Finance Minister Nirmala Sitharaman on Monday, trade union leaders advocated for critical tax reforms and enhanced social security measures, particularly for informal sector workers.

Posted in Union Budget & Policy | 1587 Views

Insurance Industry Seeks Key Tax Reliefs and GST Reduction in Upcoming Budget

08 January 2025 at 09:00

The insurance industry has put forth significant demands ahead of the Union Budget, focusing on easing tax burdens and improving insurance accessibility for the public.

Posted in Union Budget & Policy | 609 Views

Pre-Budget Consultation Meetings for the forthcoming Union Budget 2025-26 concludes

07 January 2025 at 08:50

The Pre-Budget consultations chaired by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman for the forthcoming Union Budget 2025-26 concluded in New Delhi.

Posted in Union Budget & Policy | 612 Views

Union Budget 2025: Tax Incentives for Fixed Deposits on the Table to Boost Middle-Class Savings

06 January 2025 at 08:54

As the Union Budget 2025 approaches, Finance Minister Nirmala Sitharaman is actively engaging with representatives from the financial sector to consider key recommendations aimed at boosting middle-class savings.

Posted in Union Budget & Policy | 1 comments | 2319 Views

ICAI Submits Suggestions on Comprehensive Review of the IT Act 1961 and Pre-Budget Memorandum 2025

04 January 2025 at 08:58

Explore ICAI's preliminary inputs on the Comprehensive Review of the Income-tax Act, 1961, discussed during a stakeholder consultation chaired by the Revenue Secretary on September 18, 2024

Posted in Union Budget & Policy | 3456 Views

Budget 2025 Preview: FM Sitharaman's Strategies to Address Inflation and Growth

11 December 2024 at 09:05

In the July 2024 Budget, Finance Minister Nirmala Sitharaman aimed to provide relief to India's middle and lower-income households by widening the income tax slab for zero tax and increasing the standard deduction for salaried individuals.

Posted in Union Budget & Policy | 1779 Views

Union Budget 2025: Key Reforms Expected for Direct Tax Code Implementation

04 December 2024 at 08:50

The Union Budget 2025 is expected to bring significant changes to India's income tax framework, with the long-awaited implementation of the Direct Tax Code (DTC) marking a major step toward overhauling the country's direct tax system.

Posted in Union Budget & Policy | 5250 Views

Govt Considering Arbitration Mechanism to Resolve Tax Disputes in Budget 2025

25 November 2024 at 09:07

The Indian government is actively exploring the introduction of an arbitration mechanism to address tax disputes, a move aimed at easing the litigation burden on both taxpayers and officials.

Posted in Union Budget & Policy | 1728 Views