Wednesday, July 9, 2025

Creating liberating content

A U.S. Justice Department logo or seal showing Justice Department

Dr. Rohini Patil explains that weight gain in happy relationships

MUMBAI: Electric vehicle (EV) sales in India rose 28.6% to

MUMBAI: The Mumbai metropolitan region closed a total of 24

Related News

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference

Dr. Rohini Patil explains that weight gain in happy relationships is often due to biological, psychological, and lifestyle factors. The ‘nesting syndrome’ prepares the body for potential pregnancy, increasing appetite

MUMBAI: Electric vehicle (EV) sales in India rose 28.6% to 1,80,238 units in June over the year-ago period, driven by massive jump in e-passenger vehicle volumes, Federation of Automobile Dealers’

MUMBAI: The Mumbai metropolitan region closed a total of 24 land deals spanning over 433 acres in H1 2025 with total deal value estimated to be Rs 11,137 crore. An

BENGALURU: Wipro Consumer Care & Lighting (WCCL)’s revenue rose by 3.5% to Rs 10,600 crore in the 2024-25, with demand impacted by inflation and subdued consumer sentiment. “We are clearly

The Grok logo is being displayed on a smartphone with Xai visible in the background in this photo illustration on April 1, 2024. Jonathan Raa | Nurphoto | Getty Images

Trending News

MUMBAI: The Mumbai metropolitan region closed a total of 24 land deals spanning over 433 acres in H1 2025 with total deal value estimated to be Rs 11,137 crore. An

AI-generated representative image MUMBAI: Food regulator FSSAI warned e-commerce platforms of “severe action” if they fail to comply with food safety protocols. In a meeting on Tuesday with companies, CEO

The West Bengal government will host a ‘Business and Industry Conclave’ later this year, Amit Mitra, chief financial adviser to CM Mamata Banerjee, announced on Tuesday. The initiative is being

India is in discussions with Australia to secure rare earth minerals, an Australian official confirmed on Tuesday, as global concerns mount over supply shortages triggered by Chinese export restrictions. “They

As Prada continues to face criticism over its Kolhapuri chappal-inspired sandals, the broader fashion world is grappling with how to engage with Indian aesthetics without falling into appropriation. The Italian

The European Union believes “better” to reach a trade deal with the United States, the bloc’s economy chief said on Tuesday.EU officials have been locked in intense negotiations with their

Unprecedented tax relief to taxpayers in budget, says FM Nirmala Sitharaman

Word Count: 614 | Estimated Reading Time: 4 minutes


Unprecedented tax relief to taxpayers in budget, says FM Nirmala Sitharaman

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday said the Budget has provided “unprecedented tax relief to honest taxpayers” and is aimed at boosting domestic production and enhancing export competitiveness, while indicating that the Income Tax Bill to replace the 63-year-old law will be taken up for discussion during the monsoon session of Parliament.
In Budget, FM had proposed a relief of up to Rs 1.1 lakh for taxpayers, hoping that more money in hands of people will spur demand.

-

On Tuesday, the Lok Sabha passed the Finance Bill 2025 incorporating 35 amendments. In her reply to the discussion on the Bill, Sitharaman highlighted the changes in customs duties. “We aim to boost domestic production and enhance export competitiveness by reducing duties on raw materials and inputs, making domestic products more cost-effective,” she said. She also sought to address some concerns over power to access digital records proposed in the I-T Bill, said the records will also be taken into account. The current law permits the examination of books of account, physically kept or every manual record, which shows income expenditure.
Since the 1961 Act does not mention the digital records, most often it becomes contentious and people go to the court and seek protection from not sharing passcode, she said. “So, digital becomes an issue. What prevails now with the gap and that gap is getting filled up in the new Income Tax Bill, which is before the select committee,” she said.
The new Bill gives tax officers powers to override the access code of computer systems and virtual digital space, including online trading and investment accounts as well as cloud servers, in search and seizure cases.
Now, the Budget will be taken up for discussion by the Rajya Sabha.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account