Long-term capital gains on non-financial assets were taxed at 20% with the indexation benefit. Now, from July 23, taxes on long-term capital gains for all financial and non-financial assets will be increased to 12.5%, up from the current 10%....
Sitharaman also mentioned the government's commitment to simplifying and rationalizing the GST tax structure to make it more efficient. For those choosing the new tax regime, Sitharaman announced an increase in the standard deduction for salaried employees from Rs 50,000 to Rs 75...
According to the proposed change in the Union Budget 2024, 20% Tax Deducted at Source (TDS) on the repurchase of units by mutual funds and the Unit Trust of India (UTI) will be eliminated. Apart from this, it also consolidates the TDS rates - the 5% rate for many payments will be...
Finance Minister Nirmala Sitharaman has provided some relief to taxpayers by hiking slabs for personal income tax while presenting the first budget of the Modi 3.0 government....
In addition to mobile phones, the BCD on mobile Printed Circuit Board Assembly (PCBA) and mobile chargers will also be reduced to 15%. This decision comes on the edge of a remarkable threefold increase in domestic production and almost a 100-fold jump in exports of mobile phones ...
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