Press Release by Press Information Bureau (PIB) is the nodal agency of the Government of India who has issued Press Releases on Income Tax Topics such as the Income-tax Bill, 2025, and the Budget 2024-25.
Ministry of Finance HIGHLIGHTS OF UNION BUDGET 2025-26 Posted On: 01 FEB 2025 1:29PM by PIB Delhi PART A Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman presented Union Budget 2025- 26 in the Parliament today. The highlights of the budget are as follows: Budget Estimates 2025-26 The total receipts other than borrowings […]
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Ministry of Finance Posted On: 22 JAN 2025 8:09PM by PIB Delh CBDT notifies amendments in Income-tax Rules, 1962 to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators As a measure to promote investment and employment, Finance (No. 2) Act, 2024 inter alia provided a presumptive taxation regime for non-residents, engaged in
A. Purpose of CRS and FATCA In this globalized economy, tax transparency and compliance has become paramount to ensure that taxpayers disclose their global income and assets accurately. The Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) are international frameworks designed to combat tax evasion by increasing transparency and cooperation among
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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 30th August, 2024 Press Release CBDT rolls out e-DRS Scheme, 2022 In pursuance of section 245MA in the Income-tax Act, 1961 (hereinafter referred to as “the Act”), the Central Board of Direct Taxes (hereinafter referred to as “CBDT”)
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Ministry of Finance CBDT issues clarification in respect of Income-tax clearance certificate (ITCC) It is being erroneously reported that all Indian citizens must obtain income-tax clearance certificate (ITCC) before leaving the country – a position that is factually incorrect Posted On: 20 AUG 2024 9:19PM by PIB Delhi Section 230 (1A) of the Income-tax Act, 1961(the
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 7th August, 2024 Press Release CBDT relaxes provisions of TDS/TCS in the event of death of deductee/collectee before linkage of PAN and Aadhaar The Central Board of Direct Taxes (CBDT), has issued Circular no. 8 of 2024 dated 05.08.2024, in view
Ministry of Finance FAQs issued by CBDT on the new Capital Gains Tax Regime proposed in the Union Budget 2024-25 Posted On: 23 JUL 2024 1:14PM by PIB Delhi FREQUENTLY ASKED QUESTIONS (FAQs) Q1. What are the major changes brought about in the taxation of capital gains by the Finance (No.2) Bill, 2024? Ans. The taxation of
Ministry of Finance GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE STANDARD REDUCTION INCREASED FROM Rs. 50,000 TO Rs. 75,000 SALARIED EMPLOYEE STANDS TO SAVE UP TO Rs. 17,500 Posted On: 23 JUL 2024 1:14PM by PIB Delhi Several attractive benefits to provide tax relief to salaried individuals and pensioners opting for the new tax regime
Ministry of Finance CAPITAL GAINS TAXATION SIMPLIFIED AND RATIONALISED SHORT TERM GAINS TO ATTRACT A TAX RATE OF 20 PER CENT AND LONG TERM GAINS TO ATTRACT A TAX RATE OF 12.5 PER CENT LIMIT OF EXEMPTION OF LONG TERM CAPITAL GAINS ON FINANCIAL ASSETS INCREASED FROM Rs. 1 LAKH TO Rs. 1.25 LAKH PER
Ministry of Finance HIGHLIGHTS OF THE UNION BUDGET 2024-25 Posted On: 23 JUL 2024 1:17PM by PIB Delhi The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament today. The highlights of the budget are as follows: Part-A : Budget Estimates 2024-25: Total receipts other than borrowings:
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