Just a moment...

⚠✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :

Print Options

+ Post an Article
Post a New Article ✕
Title :
0/200 char
Description :
Max 0 char
Category :
Co Author :

In case of Co-Author, You may provide Username as per TMI records

Delete Reply

Are you sure you want to delete your reply beginning with '' ?

Delete Issue

Are you sure you want to delete your Issue titled: '' ?

Articles

Back

All Articles

Advanced Search ❮
Reset Filters
Search By:
Search by Text :
Press 'Enter' to add multiple search terms
Select Date:
FromTo
Category :
Sort By:
Relevance Date
PrevPreviousNextNext

What Budget says - Direct and Indirect Taxes

CSSwati Rawat
Revised Income Tax Slabs Announced; Angel Tax Abolished; Charitable Tax Exemptions Merged; Customs Duty Adjustments Made The budget introduces revised income tax slabs, with rates ranging from 5% for incomes between 3-7 lakh to 30% for incomes above 15 lakh. The standard tax deduction increases to Rs. 75,000, allowing salaried employees to save up to Rs. 17,500 annually. Customs duty exemptions are extended to three cancer medicines, and reduced to 6% for gold and silver, and 6.4% for platinum. Two charity tax exemption regimes are merged. Short-term gains on certain financial assets are taxed at 20%, and unlisted bonds and similar instruments are taxed at slab rates. The angel tax is abolished for all investor classes. (AI Summary)

                                      What Budget says - Direct Indirect Taxes

Changes in New Income Tax Regime Slab

0-3 lakh : Nil 

3-7 lakh: 5%

7-10 lakh: 10%

10-12 lakh: 15%

12-15 lakh: 20%

Above 15 lakh: 30%

  1. New tax regime slabs to be changed, standard tax deduction increased from Rs. 50,000 to Rs. 75,000.
  2. As in new tax regime Salaried employees to save up to Rs.17, 500 annually in taxes.
  3. Exemption to three more medicines for Cancer treatment from customs duty.
  4. Government to reduce customs duty on gold, silver to 6%, platinum to 6.4%.
  5. Two tax exemption regimes for charities to be merged into one.
  6. Short-term gains @ 20% on some financial assets.
  7. Unlisted bonds, debentures, debt mutual funds, market-linked debentures to be taxed at slab rate.
  8. Angel tax abolished for all classes of investors.
Budget - Tax Proposals
answers
Sort by
+ Add A New Reply
Hide
+ Add A New Reply
Hide
Recent Articles