Top 5 Most Exported Products From India

Ebizfiling

1.

New Tax Bill : Replaces the 1961 Act, simplifying tax laws.

2.

Unified Tax Year : Proposed shift from April-March to a new standard tax year.

3.

Revised Slabs : No tax up to ₹12L; new rates: 5%-30%, higher ₹75K deduction.

4.

87A Rebate Hike : Raised to ₹60K, making income up to ₹12.75L tax-free.

5.

Crypto Taxation : Cryptocurrency gains now taxable as capital assets.

Crypto

6.

Expanded Tax Powers : Authorities can access digital records for investigations.

7.

Higher TDS/TCS Limits : ₹1L for senior citizen interest, ₹6L for rental income.

8.

Tax-Free NSS Withdrawals : Exemption for withdrawals after August 29, 2024.

NO

9.

Longer Return Deadline :  Four years instead of two for updated returns.

10.

Simplified Capital Gains Tax : Easier language, no structural changes.

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