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The new direct tax code, also known as the new income tax bill, may receive cabinet approval on Friday, February 7, according to sources.

New Income Tax Bill may be approved by Cabinet tomorrow; says Report

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FM has proposed a revised tax slab under new tax regime that intends to decrease the tax burden. Now Pay “Zero” Tax on Professional Receipts of up to Rs.24 Lakhs.

Pay “Zero” Tax on Professional Receipts of up to Rs.24 Lakhs

With a view to simplifying the provisions, it is proposed to amend the sub-section (2) so as to provide that the annual value of the property consisting of a house or any part thereof shall be taken as nil, if the owner occupies it for his own residence or cannot actually occupy it due to any reason.

Big Change in Calculation of House Property Income [Budget 2025]

It is proposed to amend section 115AD provisions to provide that tax on income by way of long-term capital gains on transfer of securities not referred to in section 112A, if any, included in the total income, shall be calculated at the rate of 12.5%.

Increase in Capital Gain Tax for Non Residents, FIIs [Budget 2025]

Clause (10D) of section 10 provides for income-tax exemption on the sum received under a life insurance policy, including bonus on such policy.

ULIP with Premium of more than Rs.2.5L to be treated as Equity-oriented Fund for Capital Gain Taxation [Budget 2025]

Several city-based information technology experts have come under scrutiny by the income tax department after being identified as "top donors" to registered unrecognised political parties.

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New Income Tax Bill may be approved by Cabinet tomorrow; says Report

Pay “Zero” Tax on Professional Receipts of up to Rs.24 Lakhs

Big Change in Calculation of House Property Income [Budget 2025]

Increase in Capital Gain Tax for Non Residents, FIIs [Budget 2025]

ULIP with Premium of more than Rs.2.5L to be treated as Equity-oriented Fund for Capital Gain Taxation [Budget 2025]

Tax Refund Scam: Hyderabad Techies Fraudulently claimed Rs.110 Crore via making fake Donations to Political Parties