Personal Finance News

Budget 2020: New income tax regime and exemptions

Budget 2020: New income tax regime and exemptions

The new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers who forgo certain deductions and exemptions. 

Feb 01, 2020, 17:46 PM IST
Income tax rates and slabs cut with riders in Budget 2020

Income tax rates and slabs cut with riders in Budget 2020

Budget 2020 has given an option to the personal income tax-payers to avail of lower rates for those earning up to Rs 15 lakh per year. 

Feb 01, 2020, 13:49 PM IST

Budget 2020 Income Tax slabs and rates updates: Govt proposes cut in tax on cooperative societies

Finance Minister Nirmala Sitharaman on Saturday (February 1) tabled General Budget 2020-21. 

Feb 01, 2020, 09:19 AM IST
Budget expectation: Most OK with Rs 20K monthly pay but want tax free income

Budget expectation: Most OK with Rs 20K monthly pay but want tax free income

For the last 10 years, the demand that tax exemption should be no less than 4 lakhs per annum has continued.

Jan 30, 2020, 16:29 PM IST
Budget may unveil new amnesty scheme for legacy disputes in Income Tax

Budget may unveil new amnesty scheme for legacy disputes in Income Tax

The Finance Ministry received around 1.89 lakh applications under the Sabka Vishwas (Legacy Dispute Resolution Scheme) 2019, which kicked off in September and concluded on January 15.

Jan 30, 2020, 16:18 PM IST
Budget 2020 may do away with capital gains on selling of property

Budget 2020 may do away with capital gains on selling of property

If the property is sold within 24 months, one has to pay a short-term capital gains tax (STCG) on the gains as per an individual`s income-tax slab.

Jan 27, 2020, 11:16 AM IST
Budget 2020: Finance Ministry mulls options on cuts in personal income tax

Budget 2020: Finance Ministry mulls options on cuts in personal income tax

The government is discussing multiple options on cuts in personal income tax (PIT) in the forthcoming Union Budget, as the clamour grows for more money into the pockets of consumers and households

Jan 27, 2020, 10:46 AM IST
Budget 2020 expectations: 69% want income tax limit to be hiked to Rs 5 lakh, says survey

Budget 2020 expectations: 69% want income tax limit to be hiked to Rs 5 lakh, says survey

Since the government announced the corporate tax rate cut in September this year, people are hoping that the Budget 2020 will bring some relief for the individual taxpayers as well.

Jan 25, 2020, 16:23 PM IST
For faster disposal of tax disputes, income tax tribunal calls for more benches

For faster disposal of tax disputes, income tax tribunal calls for more benches

The tribunal has called for increasing the number of benches for faster disposal of disputes.

Jan 23, 2020, 17:37 PM IST
Government should cut Income tax to boost demand, says Pawan Goenka

Government should cut Income tax to boost demand, says Pawan Goenka

On the sidelines of World Economic Forum (WEF) at Davos in Switzerland, Pawan Goenka, Managing Director of Mahindra & Mahindra told Zee Business that the government should take a very aggressive

Jan 23, 2020, 17:37 PM IST
Now, you can enable/disable your bank credit/debit cards - know more

Now, you can enable/disable your bank credit/debit cards - know more

RBI has mandated that issuers provide alerts/information/status, etc., through SMS / e-mail, as and when there is any change in the status of the card.

Jan 16, 2020, 14:04 PM IST
Banks to remain shut on Budget day as unions call for 2-day strike from January 31

Banks to remain shut on Budget day as unions call for 2-day strike from January 31

In January, this would be the second bank strike after the first one was observed along with Bharat Bandh on January 8.

Jan 16, 2020, 09:59 AM IST
ITR filing: CBDT grants relaxation in eligibility conditions for Sahaj, Sugam forms

ITR filing: CBDT grants relaxation in eligibility conditions for Sahaj, Sugam forms

In the notified returns, the eligibility conditions for filing of ITR-1 & ITR-4 Forms were modified with an intent to keep these forms short and simple with bare minimum number of Schedules,

Jan 10, 2020, 14:00 PM IST
RBI launches Mobile Aided Note Identifier App to help visually challenged persons

RBI launches Mobile Aided Note Identifier App to help visually challenged persons

Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (January 1, 2020) launched a mobile application MANI (Mobile Aided Note Identifier) to aid visually challenged persons in

Jan 01, 2020, 16:53 PM IST
Aadhaar Card-PAN linking last date extended to March 31, 2020 from December 31, 2019

Aadhaar Card-PAN linking last date extended to March 31, 2020 from December 31, 2019

The last date for linking of Aadhaar Card with PAN was extended to March 31, 2020, from December 31, 2019, the Income Tax department said on Monday. The Central Board of Direct Taxation made the

Dec 30, 2019, 20:50 PM IST
SBI to launch OTP-based ATM cash withdrawal from January 1, 2020

SBI to launch OTP-based ATM cash withdrawal from January 1, 2020

The SBI has announced the launch of One Time Password-based ATM withdrawals from January 1, 2010. This is being done to minimize the number of unauthorized ATM cash withdrawals.

Dec 27, 2019, 20:46 PM IST
Bank Holidays: Indian banks will remain closed on these days in Year 2020

Bank Holidays: Indian banks will remain closed on these days in Year 2020

The Reserve Bank of India (RBI) has fixed some days when the banking operations will remain closed, but bank holidays vary in different states as well as in companies. 

Dec 27, 2019, 12:53 PM IST
SBI to discontinue magnetic strip ATM-cum-debit cards from January 1, 2020

SBI to discontinue magnetic strip ATM-cum-debit cards from January 1, 2020

As per RBI guidelines, the SBI has replaced all old magnetic strip-based ATM-cum-debit cards of its customers with EMV chip and PIN-based cards.

Dec 26, 2019, 18:42 PM IST
Budget 2020: Income Tax relief for individual taxpayers, other exemptions likely

Budget 2020: Income Tax relief for individual taxpayers, other exemptions likely

If the government accepts the Taskforce's recommendations and implements the same, personal income taxpayers will get a big relief. 

Dec 26, 2019, 17:32 PM IST
ITR filing: CBDT extends date till January 31 in Jammu & Kashmir, Ladakh

ITR filing: CBDT extends date till January 31 in Jammu & Kashmir, Ladakh

The region, especially Kashmir, yet to witness seamless internet connectivity after the Centre`s decision to revoke the provisions of Article 370 on August, which gave a special status to the

Dec 24, 2019, 22:42 PM IST