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The government implemented the new tax regime with the expectation that the changes in tax brackets would occur in a gradual rather than sudden manner. [3] Despite the simplified mechanism and reduced tax burden of the New Tax Regime, taxpayers were still choosing to opt for the old regime and took advantage of tax deductions.
In the budget 2025, tabled by the Finance Minister on 01.02.2025, the FM affirmed and said that the new direct tax code will be presented in the coming weak replacing Income Tax Act, 1961. [24] The union cabinet on 07.02.2025 cleared the new Income Tax Bill to replace the old Income Tax Act, 1961. [25]
In the Finance Act, 2020 the Government introduced a new tax regime for individuals giving them the option to opt for the new regime or continue with the old regime. [11] The tax is collected by the Income Tax Department for the central government. Farmers - who constitute 70% of the Indian workforce - are generally excluded from paying income ...
We spoke to a handful of dental health professionals and combed through hundreds of reviews to find the best electric toothbrushes of 2025.
A few months later Optiva Corporation changed its name to Philips Oral Healthcare, Inc. By the end of 2001, Sonicare had become the number-one selling rechargeable power toothbrush in the United States. [11] In 2003, to improve Philips brand recognition in the US, Philips rebranded the Sonicare toothbrush as "Philips Sonicare".
For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...
The tax season for tax year 2023 has officially started and you were able to file as early as Jan. 29, 2024. Here are some other important dates: Jan. 1, 2024: The unofficial start of tax season.
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.