In India, Tax Deducted at Source (TDS) is key for tax compliance, mainly in mutual funds and similar investments. Section 194F of the Income Tax Act affects unit holders, mainly when UTI repurchases units. Knowing these rules is vital for investors, as they affect planning, taxes, and returns. This section will explore how TDS manages tax duties during unit repurchases. Key Takeaways What […]
Recent updates in the income tax landscape have introduced significant changes, particularly with the introduction of the new tax regime. These revisions aim to simplify the process while offering lower rates for taxpayers. However, they come with fewer exemptions and deductions, making it essential to understand the implications fully. For the financial year 2025-26, the revised slab rates
In a landmark decision, the GST Council has announced a new two-slab GST structure and removed health and life insurance premiums from the tax net. The reform, hailed as “Next-Generation GST,” was approved during the Council’s meeting chaired by Finance Minister Nirmala Sitharaman. From September 22, 2025, only two GST slabs — 5% and 18%
In a major overhaul of India’s indirect tax system, the GST Council has approved the government’s proposal to reduce the number of tax slabs to just two — 5% and 18%. At the same time, the Council has also introduced a 40% “special GST” for harmful and luxury goods. Finance Minister Nirmala Sitharaman, addressing the
In a major announcement ahead of Diwali, Finance Minister Nirmala Sitharaman unveiled sweeping GST reforms after the GST Council meeting, aimed at easing the tax burden on households, farmers, and businesses. Highlighting the government’s focus on simplification, Sitharaman said Prime Minister Narendra Modi had set the direction for next-generation reforms in his Independence Day address,
