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Income Tax Act

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Relief for house owners, can claim zero tax on 2 self-occupied properties

The government on Saturday announced that taxpayers can claim annual value of two self-occupied properties as "nil" without any condition. Photograph: Reuters In her Budget speech, Finance......

Modi slams 'Lutyens Jamaat, Khan Market Gang' over British-era dance ban

Prime Minister Narendra Modi on Saturday took a dig a the 'Lutyens Jamaat' and 'Khan Market Gang', questioning their silence on certain British-era laws, including one in which police could arrest......

MP ministers to pay their income tax ending 52-year-old rule

The Madhya Pradesh cabinet on Monday approved a bill providing for seizing vehicles involved in the transportation of cows for slaughter and also gave its nod to another proposed legislation under......

Nirmalaji Releases The Nuclear Genie

'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.''Let's keep our fingers crossed and hope that this Budget promise is......

Why The South Is Worried About Delimitation

'Peninsular Indians could ask 'Why should we contribute half of India's tax revenues if we account for only a quarter of the seats in the Lok Sabha?'.' 'The rest of the country seems likely to......

Govt to undertake comprehensive review of Income Tax Act: FM

The government on Tuesday announced that it will undertake a comprehensive review of the Income Tax Act to make it easy to read. Illustration: Dominic Xavier/Rediff.com Presenting the Union......

New Income Tax Bill likely to be tabled in Par on Thursday

A crispier and simplified Income Tax Bill 2025, having 536 sections, and 23 chapters running into 622 pages, is likely to be introduced in the Lok Sabha on Thursday. Illustration: Dominic......

Sitharaman introduces New Income Tax Bill in LS

Union Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on Thursday and urged Speaker Om Birla to refer it to a select committee of the House. Photograph:......

Budget 2012: Govt proposes amendments in Income Tax Act

In a measure that will have far-reaching impact on foreign investment and the Vodafone case having a tax implication of Rs 11,000 crore (Rs 110 billion), the government proposed amendment in the......

No Of Nil Tax Returns Nearly Doubles In 5 Years

ITRs with zero tax liability have increased to 55.7 million in FY25. Kindly note the image has been posted only for representational purposes. Photograph: Kind courtesy Nataliya......

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