331 results found

With a view to mitigate the impact of external economic headwinds, provide stability to the domestic economy and support key sectors of strategic importance, the Government has introduced the Taxation and Other Laws (Amendment) Bill, 2026 (‘the Bill’) [in supersession of the earlier Income Tax (Amendment) Ordinance, 2026]. The Bill, as passed by the Lok Sabha on 6.08.2026, proposes amendments, inter-alia, to the Income-tax Act, 2025 (‘2025 Act’).

The tax rates and income slabs under the Income-tax Act, 1961 (IT Act) remain the same, other than the following proposed changes.

In the UAE, the current corporate tax regime has transformed the way promoters, investors, and multi-generational business families approach structuring. The decision involves thinking about priorities beyond prestige or location.

<P>The Ministry of Corporate Affairs (MCA) has been in the news for flurry of welcome initiatives recently undertaken. A number of green initiatives have also been undertaken. What was long been awaited for, has become a reality now.</P>

The Hon'ble Finance Minister presented the Union Budget 2020 on February 1st. The attached booklet contains an analysis of key announcements which will have impact on businesses.

Income tax is a tax levied and charged on individuals and entities based on their income or profits, in accordance with the provisions of the Income Tax Act, 1961.

The thrust of the Government, thus, seems to be to make the new taxation regime more attractive and gradually phase out the old regime.

The threshold level of income exempt from tax is proposed to be raised from Rs: 50,000 to Rs: 1,00,000. The threshold level for <I>women</I> who have not attained the age of 65 is proposed at Rs: 1,25,000. This replaces the rebate allowable to women u/s 88 – C which now stands eliminated. The threshold level for <I>senior citizens</I> is proposed at Rs: 1,50,000. This replaces the rebate allowable to senior citizens u/s 88 – B which now stands eliminated