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4 dozen exemptions still available in new income tax structure

The list of exemptions that will be carried over to the new scheme includes 50 items from the close to 120 exemptions available to those who pay tax through the old system.

The new scheme aims to leave people with more cash to spend, Union finance minister Nirmala Sitharaman said on Saturday while presenting the government’s budget for the 2020-21 financial year in Parliament.(Reuters FILE/ Representative Image)
Updated on Feb 04, 2020 05:30 AM IST
Hindustan Times, New Delhi | ByRajeev Jayaswal

What the tax cut will achieve; what it won’t

There are positives. But India needs to do more on education, tech, exports, informal sector and farming

What is needed now are policy interventions for effecting structural changes in our skill development programmes, which, in turn, requires a paradigm shift in imparting education(Reuters)
Updated on Sep 24, 2019 08:45 PM IST
ByKapil Sibal

India Inc. has no excuse to underinvest anymore. It is time to take the plunge | Analysis

Structural reforms since 2014 led to a dip in expected cash flows for promoters. The tax break will offset that

The finance minister, by the announcement of reduced taxes, has, in one sweep, increased cash flows in any investment calculation, nullifying the negative effects one has described before(ANI Photo)
Updated on Sep 23, 2019 08:34 PM IST
ByGovind Sankaranarayanan

GST rate cut likely for small cars, part makers

The Centre is also considering giving some relief to other sectors, especially in the unorganized segment, but a tight fiscal position may not allow it to go for a liberal rate cut across industries, the officials said.

Cars, bikes and mopeds at present attract a peak GST rate of 28% with additional cess ranging from 1% to 22%, depending on the length, engine size and type of the vehicle.(HT image)
Updated on Sep 06, 2019 11:40 PM IST
New Delhi | ByGireeh Chandra Prasad

Tax break for 45 lakh homes

“The economy is slowing down and consumption is at a 20-quarter low coupled with a liquidity crisis,” said Chawla.

Apart from this new proposed deduction, the interest paid on housing loans was already allowed as a deduction to the extent of <span class='webrupee'>₹</span>2 lakh but for ‘self-occupied property’. Will the interest component go up to <span class='webrupee'>₹</span>3.5 lakh?(PTI File Photo)
Updated on May 28, 2020 10:45 PM IST
Hindustan Times, Mumbai | By
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