ITR filing: The zero-tax income threshold has been increased from Rs 7 lakh to Rs 12 lakh. Income Tax Slabs FY 2025-26 after Budget 2025: Finance Minister Nirmala Sitharaman’s big announcement that taxpayers will no longer have to pay tax for income up to Rs 12 lakh from FY 2025-26 onwards has been met with…
The Union Cabinet approved the New Income Tax Bill on Friday. New Income Tax Bill LIVE: Finance Minister Nirmala Sitharaman may table the New Income Tax Bill in the Parliament on Tuesday. The intention to introduce the New Income Tax Bill was first announced by FM Sitharaman in her Union Budget 2025 speech.The Union Cabinet…
Income tax slabs FY 2025-26: The most important takeaway is that individuals earning up to Rs 12 lakh will have to pay ZERO tax. (AI image) Latest Income Tax Slabs FY 2025-26 after Budget 2025: The income tax slabs and income tax rates under the new tax regime have been revised for FY 2025-26. The…
GST reforms: The primary objective will be to restructure the tax slabs to ensure meaningful outcomes. More tax relief coming soon? The Narendra Modi government, having provided substantial relief in personal income tax and customs tariff rationalisation in the Union Budget 2025, is now expected to initiate efforts to streamline the goods and services tax…
NEW DELHI: Most of the tax proposals in the Budget are based on the precepts of good governance, which is evident in areas, such as ease of doing business, ease of compliance, technology and trust, a top official said on Monday.Finance and revenue secretary Tuhin Kanta Pandey told a gathering of business leaders that Budget…
One of the major amendments proposed in the current budget is the change in the tax rates and slabs under the Concessional Tax Regime. By Surabhi MarwahBudget 2025 income tax: The Finance Minister in her budget speech stated that taxation reforms were one of the key reforms to realise the vision of “Viksit Bharat”. The…
Union finance minister Nirmala Sitharaman on Saturday announced significant income tax cuts for the middle class and unveiled reforms for a ‘Viksit Bharat’, balancing fiscal prudence with growth. Individuals earning up to Rs 12 lakh annually will pay no tax, with an additional Rs 75,000 standard deduction for the salaried class. The revised tax slabs…
Finance minister Nirmala Sitharaman announced a significant increase in allocation for the education sector, focusing on last-mile broadband connectivity in rural schools that were worst hit by insufficient internet coverage during Covid. Infrastructure expansion for IITs, medical education and AI in learning were also among the Budget highlights.The digital push is expected to boost broadband…
Budget 2025 has sought to bring down the number of transactions liable for tax deducted at source (TDS) by setting higher threshold limits across a spectrum of income streams, thus benefitting small taxpayers receiving small payments.Similarly, the finance minister also proposed to raise the threshold to collect tax at source (TCS) on remittances under RBI’s…
Indian Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the federal budget in the Parliament in New Delhi, India, Saturday, Feb. 1, 2025. (AP Photo) Union Budget 2025 proposes the removal of import duties on several key mobile phone components. Finance…
