Tax Exemption News - Latest Updates & Headlines
Centre grants tax exemption benefits to IREDA bonds
New Delhi, July 10: The central government has granted tax-saving status to PSU renewable projects financing company IREDA Ltd's bonds under Section 54EC of the Income Tax Act.
Centre extends tax exemption benefits to IREDA bonds
New Delhi, July 10: The Central Board of Direct Taxes (CBDT) has notified bonds issued by Indian Renewable Energy Development Agency Ltd. (IREDA) as "long-term specified assets" that are eligible for tax exemption benefits under section 54EC of the Income-tax Act.
Maha govt tables bill to amend GST Act to provide transparent services to taxpayers
Mumbai, July 3: Deputy Chief Minister and Finance Minister Ajit Pawar on Thursday tabled the Maharashtra Goods and Services Tax (Amendment) Bill, 2025 in the Assembly to amend the Maharashtra Goods and Services Tax Act, 2017 with a total of 13 amendments.
G7 back new 'side-by-side' tax proposal exempting American, UK firms from global tax rules
New Delhi, June 29: US-parented companies will be exempted from certain elements of an existing global tax agreement according to a statement released by the Group of Seven countires which detailed the new proposal signed by the United States and its G7 partners.
DPIIT approves 187 startups for tax relief under revised section 80-IAC framework
New Delhi, May 15: The Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemption under the revamped Section 80-IAC of the Income Tax Act.
Govt approves 187 startups for tax exemption to boost growth
New Delhi, May 15: In a significant boost to India's startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemption under the revamped Section 80-IAC of the Income Tax Act, according to an official statement issued on Thursday.
Gujarat cuts tax on electric vehicles to 1 pc till 2026 to promote green mobility
Ahmedabad, April 18: The Gujarat government has announced a significant tax relief on electric vehicles (EVs). Minister of State for Home and Transport, Harsh Sanghavi, declared that the state will offer a 5 per cent tax exemption on fully electric vehicles until March 31, 2026.
Prez Trump threatens to strip Harvard University of its tax-exempt status
Washington, April 16: The row between Harvard University and US President Donald Trump escalated further after the elite university refused to accept far-reaching policy changes ordered by the White House, and Trump threatened to strip it of its tax-exempt status.
FWICE urges Maharashtra Govt to make Vicky Kaushal-starrer 'Chhaava' tax-free
Mumbai, February 18: The Federation of Western India Cine Employees (FWICE) has requested Maharashtra Chief Minister Devendra Fadnavis to declare Vicky Kaushal's latest film, 'Chhaava', tax-free.
We gradually healed the wounds of middle class: PM Modi on new tax exemptions
New Delhi, February 4: Prime Minister Narendra Modi, during his address in Parliament on Tuesday said that there were multiple 'bombs' and 'bullets' hurled at the middle class, which were then subsequently "healed" by the BJP-led government after 2014, in a reference to the new income tax introduced in by the Finance Ministry.
Budget is for poor, farmers and middle class: Union Minister Sukanta Majumdar slams Rahul Gandhi
New Delhi, February 2: Union Minister Sukanta Majumdar hit out at Lok Sabha Leader of Opposition Rahul Gandhi for claiming that Union Budget will "benefit 20-25 billionaires," and said that the budget is for the poor, farmers and the middle class including Dalit community.
One crore people will benefit from revised slabs, pay no tax: FM Sitharaman
New Delhi, Feb 1: Union Finance Minister Nirmala Sitharaman, in her first post-Budget press conference, said that the revision in tax slabs as announced in the Union Budget 2025-26 will leave 'enough money in the hands' of taxpayers, adding that about 1 crore taxpayers will be directly benefitted from the extended rebates and exemptions, under the New Tax regime.
Union Minister Bandi Sanjay Kumar calls Union Budget truly extraordinary
New Delhi, February 1: Union Minister of State for Home Affairs Bandi Sanjay Kumar described the Union Budget as "truly extraordinary" and said it benefits the poor, middle class, farmers, small traders, and young entrepreneurs.
1 crore more people to pay zero income tax under Budget 2025-26: FM Sitharaman
New Delhi, Feb 1: As many as 1 crore more people will pay no income tax after the increase in rebate to Rs 12 lakh announced in the Budget for 2025-26, Finance Minister Nirmala Sitharaman said on Saturday.
Budget provides relief to salaried middle class: Union Minister Puri lauds FM Sitharaman
New Delhi, February 1: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday lauded the "outstanding" Budget presented by Union Finance Minister Nirmala Sitharaman, which he said catered to all sections of the economy and provided relief to the salaried middle class.