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Source: Live Mint The Union Budget’s announcement of the new ₹12,00,000 tax slab has created quite a buzz, bringing cheer to many taxpayers. Alongside this, several tax rule changes are set to reshape personal finances. TCS rates on foreign trips, education loans, and other remittances have been simplified, offering some relief. From take-home salary adjustments…
Source: Live Mint The Budget 2025 has become a beacon of hope for individual taxpayers amidst a global landscape marred by the threat of “retreating globalization,” and a domestic economy grappling with inflation and subdued growth. The Finance Minister (FM) has risen to the occasion, presenting a budget that not only addresses the pressing concerns…
Source: Live Mint Budget 2025 has moved in a path that at once caters to the immediate requirements of the economy, while continuing on the path to investing for future growth, even while ensuring a tight leash on the fiscal deficit. Tax slab rationalisation to boost consumption, ease of taxation via higher thresholds for tax…
Source: Live Mint Budget 2025: Union Finance Minister Nirmala Sitharaman announced the revision of tax slabs for taxpayers under the new tax regime. This has, undoubtedly, made the new tax regime even more attractive for the taxpayers. Does this mean that today’s Budget rang a death knell for the old tax regime? Let us understand…
Source: Live Mint The Indian banking and financial sector, though robust and well-capitalised, continues to face serious challenges linked to unsecured loans and global market volatility. These issues were already highlighted in the Economic Survey 2025. To combat these, Finance Minister Nirmala Sitharaman introduced several measures, including a credit guarantee cover for MSMEs. Also Read…
Source: Live Mint In case you forgot to report some income while filing tax returns anytime in the past four fiscal years, Budget 2025 has good news. The timeline to file an updated income tax return has been increased to four years from two years starting April 2025. Of course, an updated ITR can only…
Source: Live Mint In addition to lowering income tax payable by individuals, Budget 2025 gave citizens relief by raising the threshold for tax deducted at source (TDS) and removing conditions on declaring a second house as self-occupied for tax purposes. The changes on TDS will benefit senior citizens as the paperwork they need to complete…
Source: Live Mint The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system, providing relief to the harried middle-class salaried taxpayer. But does this necessarily mean better savings for taxpayers? Or does it merely mark a shift away from traditional deductions, which the old…
Source: Live Mint Your Budget 2025 Guide: Under the new income tax slabs, income up to ₹12 lakh will now be tax-free. Previously, income up to ₹15 lakh was taxed between 5% and 20%, with anything above ₹15 lakh taxed at 30%. The government released FAQs to clarify these changes, focusing on the new income…
Source: Live Mint Budget 2025, Income Tax Slab Update: Finance Minister Nirmala Sitharaman in her Union Budget 2025 speech announced new income tax slabs for salaried individuals. As per Sitharaman, under the New Tax Regime, taxpayers with income up to ₹12 lakhs are now exempted. We take a look at what the new income tax…
