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The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1] Subsequent Budget of FY2021-22 did not see any major announcements in this regime. [ 2 ] During the Budget 2022–23, reports emerged that New Tax Regime was getting poor response [ 3 ] and Government is considering to make it more attractive ...
Elections in India in 2022 include election to the office of the President of India, vice president of India, by-elections to the Lok Sabha, elections to the Rajya Sabha, elections to state legislative assemblies of 7 (seven) states, by-elections to state legislative assemblies and numerous other elections and by-elections to state legislative councils and local bodies.
Legislative Assembly elections were held in Gujarat from 1 to 5 December 2022 in two phases, to elect 182 members of 15th Gujarat Legislative Assembly. The votes were counted and the results were declared on 8 December 2022. The Bharatiya Janata Party won a super majority of 156 seats, the most ever won by any party in Gujarat's history.
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The act, which became effective on 1 April 1962, replaced the Indian Income Tax Act, 1922. Current income-tax law is governed by the 1961 act, which has 298 sections and fourteen schedules. [9] The Direct Taxes Code Bill was sponsored in Parliament on 30 August 2010 by the finance minister to replace the Income Tax Act, 1961 and the Wealth Tax ...
Taxpayers can expect to see changes in income tax rates, brackets and deductions next year due to high inflation, according to a new report from Bloomberg Tax & Accounting. Bloomberg estimates...
Indian Finance Minister Nirmala Sitharaman shows a red pouch containing budget documents, as she arrives to present the federal budget in the Parliament in New Delhi, India, Saturday, Feb. 1, 2025.
The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax) used on the supply of goods and services. It is a ...