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…
The Union Budget has put a check on illegal imports of gold under the disguise of platinum alloy, which was being done using a loophole in the trade deal with UAE under the Comprehensive Economic Partnership Agreement (CEPA). The Budget has introduced a separate HS (Harmonised System) code for platinum alloy so that no other…
NEW DELHI: Finance minister Nirmala Sitharaman, paraphrasing Abraham Lincoln, described the Union Budget as “by the people, for the people, of the people” during an interview with PTI on Sunday. She said that Prime Minister Narendra Modi was fully supportive of tax cuts, but bureaucratic hurdles delayed the decision. “We have heard the voice of…
Union finance minister Nirmala Sitharaman on Saturday tabled the Budget 2025 announcing a slew of measures, including no tax on income up to Rs 12 lakh. Here’s a look into the gains and pains that the Budget offers: Gains for taxpayers No tax on income up to 12L. With standard deduction, salaried remain tax free…
NEW DELHI: After giving major tax relief to middle class salaried individuals in Union Budget 2025, finance minister Nirmala Sitharaman said the significant tax relief provided by the Modi government has put more more money in people’s hands compared to the tax structure in 2014 under the previous Congress-led government. The reforms, aimed at putting…
NEW DELHI: Finance minister Nirmala Sitharaman, in the Union Budget 2025, announced the launch of the second asset monetization plan for 2025-30, aiming to generate Rs 10 lakh crore by monetizing government-owned assets and reinvesting the funds into new infrastructure projects. The government will also refine regulatory and fiscal measures to ensure the plan’s successful…
New vs old tax regime: Is it time to switch to the new income tax regime or does the old income tax regime with higher tax exemptions and deductions still make sense? Income Tax Slabs FY 2025-26 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman has given the middle class, common man and…
Tax was the most used word NEW DELHI: Union finance minister Nirmala Sitharaman on Saturday presented her eighth consecutive Budget. This brings her closer to the record of 10 budgets presented by former Prime Minister Morarji Desai, who holds the record for the most budgets presented across different terms. She is also the first woman…
NEW DELHI: Finance minister Nirmala Sitharaman in the Union Budget for 2025 allocated Rs 6.81 lakh crore to the defence sector, marking a marginal increase from the Rs 6.2 lakh crore assigned in the current fiscal year.Of the total allocation, Rs 4.88 lakh crore has been earmarked for revenue expenditure, covering salaries, operational costs, and…
NEW DELHI: Finance minister Nirmala Sitharaman on Saturday gave a big bonanza to the salaried people as she announced income tax exemption for individuals earning up to Rs 12 lakh annually.“I am now happy to announce that there will be no income tax payable up to income of Rs 12 lakh (i.e. average income of…
