Under the proposed Union Budget 2025, a ₹60,000 rebate applies to incomes up to ₹12 lakh, enhancing the attractiveness of the ...

Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), under section 115BBH of the Act in which the transfer of VDA is to be taxed ...

If you are still confused about which tax regime to choose after Budget 2025 proposals, here is how to choose between the old ...

In terms of GST-specific amendments, Budget 2025 also focused on pre-deposit amounts for GST appeals, reducing penalties for E-way bill violations and introducing a 10% penalty for other infractions.

As we enter 2025, taxpayers nationwide are bracing for significant tax reforms. You've probably heard about changes that will come at the federal level as a new administration enters the White ...

There is growing debate to increase the basic exemption limit in both old tax regime as well as new tax regime. Will Sitharaman give any good news to individual taxpayers to offset the ...

This year, the federal government promises a new era of easy, inexpensive tax preparation with free filing options from the Internal Revenue Service (IRS). While the ability to use online forms to ...

but the new approach, if implemented, would encourage states to contribute more to the national revenue pool. He pointed out that the main intent of VAT as a consumption tax is not to deprive any ...

Nigerian governors have expressed their support for the tax reform bills initiated by the federal government, proposing a new sharing formula for value-added tax, VAT. This is coming after meeting ...

Spanish Prime Minister Pedro Sanchez said the “unprecedented” new tax was needed to solve the country’s housing crisis. In recent years, rents have skyrocketed in Airbnb-dominated cities ...

The future of the child tax credit and its value is now in the hands of the Republican majority in Congress, and a new expansion proposal ... it would give you the option of receiving your credit ...

Currently, individuals can file their ITR either under the old tax regime which offers benefit of deductions and exemptions, or under the new tax regime which offers a lower rate of taxes.