Budget: 1cr in Rs 5-7L income range to gain from new tax regime

Close to one crore individuals in the Rs 5-7 lakh income range stand to gain from the government’s decision to increase the rebate level to Rs 7 lakh under the new tax regime, data available with the finance ministry showed. Several of these individuals are unable to use the benefits available for investment in specified savings instruments, such as public provident fund or 5-year fixed deposits, increasing their tax liability, government sources told TOI.

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Adani companies crash FM Sitaraman's B-day party

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Dus Pe Bas: Budget caps capital gains benefit on luxe home sale

Planning to sell your luxury home to buy another one with an eye on a hefty profit? Here’s why you may need to do a rethink: any reinvestment of the sale proceeds exceeding Rs 10 crore will not fetch you tax deduction, with finance minister Nirmala Sitharaman proposing a cap on the same.

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Switch hit: FM Sitharaman bats for new tax regime

Finance minister Nirmala Sitharaman has given the beleaguered tax-paying middle class a shot in the arm while seeking to make the new income tax regime more attractive. She has proposed incentives for citizens to adopt or switch to the new tax regime—which she said would eventually become the default mode—without claiming any exemptions against investments.

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'Domestic violence case valid even if woman’s spouse lives abroad'

Any woman residing in India either temporarily or permanently is entitled to seek relief from a court of law under the Domestic Violence Act even if her spouse lives outside the country, the Madras HC said. The court dismissed a petition challenging a domestic violence complaint filed by his wife against him in a Chennai family court. "The cause of action arises in India since the aggrieved person is residing here, even if abused economically by the spouse residing in another country," he said.

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US may let GE make jet engines in India

The invitation to Prime Minister Narendra Modi to make a state visit to the US comes amid efforts to achieve a quantum leap in bilateral ties, with India’s national security adviser, Ajit Doval, and his US counterpart, Jake Sullivan, tasked with launching a Critical and Emerging Technologies (iCET) initiative that officials suggest will top anything the two countries, long prone to mutual distrust, have achieved so far, including the civilian nuclear agreement of 2005.

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'All-inclusive visionary Budget boost for a self-reliant India'

Reflecting the upbeat sentiments of BJP and party cadres over the announcements in the Union Budget, Union home minister Amit Shah on Wednesday welcomed several proposals like tax relief to the middle class and measures to empower women, tribals and the most backward classes.

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