Kathmandu, May 29 (IANS) Nepal’s Finance Minister, Swarnim Wagle, on Friday announced major tax relief measures targeting the middle class, mirroring steps taken by the Indian government in February 2025. Presenting a budget of NPR 2.124 trillion for the fiscal year 2026-27 at a joint session of Parliament, Minister Wagle said the government has raised the income tax exemption threshold for individuals to NPR 1 million. Currently, individuals earning more than NPR 500,000 annually are required t…
Latest Tax relief News & Updates
Washington, April 16 (IANS) President Donald Trump’s working families tax cuts have delivered record refunds and broad relief to millions of Americans, the White House stated, citing strong uptake across key provisions such as no tax on overtime and tips. Marking Tax Day on Wednesday (local time), White House Press Secretary Karoline Leavitt said the administration’s tax measures had put “a historic amount of money back into the pockets of the American people.”Leavitt said more than 53 m…
New Delhi, March 23 (IANS) India is set to roll out the new Income Tax Act, 2025 from April 1, 2026, but taxpayers need not worry about filing this year as returns can be prepared and filed under the existing Income Tax Act, 1961, officials and tax experts said, ensuring a smooth, year‑wise transition.The current law will continue to apply for this filing cycle, they said, adding that the government is adopting a clear, phased approach.Income for FY26 (April 1, 2025–March 31, 2026) will be a…
Ahmedabad, Feb 10 (IANS) The Ahmedabad Municipal Corporation (AMC) on Tuesday approved a revised budget of Rs 18,518 crore for the 2026-27 financial year, an increase of Rs 1,500 crore over the draft estimate of Rs 17,018 crore presented earlier by the Municipal Commissioner. The revised budget was tabled by Standing Committee chairman Devang Dani and cleared by the civic body, bringing the annual budgetary exercise to a close without dispute following the withdrawal of a proposed slaughterhouse…
Seoul, Dec 24 (IANS) The finance ministry here on Wednesday announced a package of tax benefits aimed at revitalising the domestic capital market, including a new incentive program for retail investors who sell overseas stocks and reinvest the proceeds in domestic assets.The latest steps come as part of a series of measures by foreign exchange authorities amid continued net capital outflows by domestic investors, with the Korean won nearing its weakest level against the U.S. dollar in 16 years, …