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Representative image | Photo Credit: Getty Images/iStockphoto The new GST regime previewed by Prime Minister Narendra Modi in his Independence Day address would be consumer-centric, with particular emphasis on the poor, the MSMEs, the middle class and the farmers, senior government sources said on Sunday (August 17, 2025). The new two-tier Goods and Services Tax…
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Nearly 58.6 lakh returns were filed by first-time filers, a fair indication of widening of tax base, the Income Tax department has said. File | Photo Credit: The Hindu Most of India’s personal income taxpayers have moved to the simpler new tax regime in this assessment year, with 72% of those who had filed their…
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The government allocates 21% of its budget to the State’s portion of taxes and duties | Photo Credit: Pichumani K Finance Minister Nirmala Sitaraman presented the Narendra Modi government’s first full-fledged budget after the NDA secured third consecutive win. Budget 2024 LIVE Updates The Budget mentioned net tax receipts for 2024-25 at ₹25.83 lakh crore,…
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The Finance Ministry said there is no change in the new income tax regime for individuals for the current fiscal year and individual taxpayers can opt out of the regime at the time of filing their income tax return (ITR). Clarifying on social media posts claiming certain changes in the new tax regime effective April…
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