Abolish Income Tax

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  Union Budget 2024: Angel Tax For All Classes Of Investors To Be Abolished

  In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all classes of investors.

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  Budget 2020: Government Abolishes Dividend Distribution Tax, Pegs Rs 25,000 Crore Revenue Loss

  Budget 2020: Finance Minister Nirmala Sitharaman said the system of levying DDT results in an increase in tax burden for investors, and especially for those who are liable to pay tax less than the rate of DDT if the dividend income is included in their income.

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  Budget 2020: Nirmala Sitharaman's Budget Has Farming, Infra Focus; Street Disappointed

  Finance Minister Nirmala Sitharaman, in the longest-ever Budget speech, unveiled a new tax regime, abolished dividend tax for companies, announced a 16-point plan to boost agriculture and signalled record spending in agriculture to pull the economy out of its worse slump in more than a decade. Vowing to boost the income and purchasing power of citi...

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  Budget 2019: Industry Body Calls For Raising Income Tax Slabs

  Budget 2019 expectations: FICCI has also called for abolishing surcharge for those who have total income above Rs 50 lakh and Rs 1 crore.

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  Congress Denies 2019 Pitch To Scrap Income Tax For Those Under 35

  The Congress on Friday dismissed reports which suggested that the party is mulling to abolish income tax for those under 35 years of age if it comes to power in 2019.

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  Budget 2018: Standard Deduction For Salaried Employees May Make A Comeback

  Chambers of commerce have suggested reintroduction of the standard deduction for salaried employees of at least Rs 1 lakh in Budget 2018.

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  Political Parties Can Turn In Old Notes Without Tax Scrutiny

  The 500- and 1,000-rupee notes that were abolished last month can be deposited by political parties till December 30 in their bank accounts without having to pay any tax, said the Finance Ministry today.

• Government to look into abolishment of income tax exemption to charity organisations: report

  The government will look into abolishment of income tax exemptions given to to charity organisations in its budgetary exercise for the year 2014, according to an RTI response from the Central Board of Direct Taxes.

• India should ensure healthy public finances before abolishing taxes: economist

  Before abolishing income tax and other levies, India should make sure that its public finances are healthy, economist and UK's Labour Party peer Lord Meghnad Desai has said.

• Not just history and geography, Narendra Modi's economics is also weak, says Jairam Ramesh

  Terming the proposal to abolish income tax "bizarre", Union Minister Jairam Ramesh today took a dig at Narendra Modi, saying that the BJP Prime Ministerial candidate's knowledge of "economics, history and geography were weak".

• BJP may scrap 'abolish income tax plan' as poll promise after objections within

  The BJP is likely to drop a plan to promise sweeping tax reforms, including the scrapping or reducing of income tax, a move aimed at winning over the middle class and urban voters of the country ahead of the national election due by May.

• Abolishing income-tax feasible, more research needed: experts

  Abolishing income tax and other levies and replacing them with some other suitable form of revenue is feasible and desirable, say experts, although some believe that such a move would militate against social equity.

• Will Narendra Modi's proposal to abolish income tax be a game changer?

  Narendra Modi

• Can India do away with income tax?

  The BJP, as per media reports, may incorporate a proposal to abolish income, sales and excise taxes in its Vision 2025 document, which will be released before the polls. Many in the top leadership have come out supporting the idea in recent weeks.