Personal income tax (PIT) has become a significant source of tax revenue in India, contributing 31% to the centre's gross tax collections in FY24. In...

Cabinet Clears Income Tax Bill The new income tax bill received approval from the Union Cabinet on Friday as sources informed PTI. Next week the...

Finance Minister Nirmala Sitharaman announced that the new income tax bill, set to be presented in Parliament, will modernize the IT Act for the 21st...

New Income Tax Act: According to the government, about 78 per cent of taxpayers have already shifted to the new tax regime. Still, according to...

As thousands of public and corporate employees file their Personal Income Tax (PIT), Bhutan stands at a fiscal crossroads to potentially reform the...

The income tax rebate in Budget 2025 has caused some confusion, especially since income tax slabs still show taxes for income brackets from ₹0 to ...

In a major relief for taxpayers, Sitharaman announced that individuals earning up to Rs 12 lakh annually will no longer have to pay income tax under...

The Central Board of Direct Taxes (CBDT) is the administrative body, under the Union finance ministry, for the I-T Department.

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Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various...