The new tax regime offers five income tax slabs to taxpayers. The highest income tax rate of 30% is applicable if the net taxable income exceeds Rs 15 lakh. The new tax regime offers a tax rebate of ...

KUALA LUMPUR: Malaysia needs tax reforms to raise additional revenues for reducing inequality, according to the World Bank. Its latest report titled "A Fresh Take on Reducing Inequality and ...

KUALA LUMPUR, Feb 5 — Malaysia has the highest rate of income inequality among peers nearing high-income status, with intra-ethnic disparity being the biggest contributor despite the widely-held ...

Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...

New Income Tax Bill Budget 2025: A new income tax legislation will be introduced by the government next week in the ongoing Budget session of the Parliament, Union Finance Minister Nirmala Sitharaman ...

“While this is not insignificant, Malaysia’s Gini remains higher than that seen for the advanced economies that it wishes to emulate,” the World Bank said. The Bretton Woods institution said the ...

Mumbai revolved around an addition of ₹2 crore under Section 68 of the Income Tax Act. The Revenue challenged the deletion of this addition by the Commissioner of Income Tax (Appeals) [CIT(A)], ...

Malaysia has made remarkable progress in economic growth and poverty reduction over the past few decades, positioning itself on track to achieve high-income nation status between 2028 and 2030.

What is the Earned Income Tax Credit? The earned income tax credit (EITC) is a federal tax break for low- and moderate-income workers with or without children. Also known as the earned income ...