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Source: Live Mint In Budget 2025, Finance Minister Nirmala Sitharaman announced that taxpayers with income upto ₹12 lakh do not need to pay any income tax. Aside from this, salaried taxpayers will be entitled to take an additional benefit of no tax by virtue of ₹75,000 standard deduction. Notably, these changes will come into effect from April 1…
Source: Live Mint Income Tax Bill 2025: Finance Minister Nirmala Sitharaman tabled the new direct tax code or the Income Tax Bill 2025 in Lok Sabha on Thursday. The Income Tax Bill, 2025, will now be referred to Select Committee of Lok Sabha for further review. The Lok Sabha proceedings have been adjourned till March…
Source: Live Mint In Union Budget 2025, Finance Minister Nirmala Sitharaman announced an increase in the Kisan credit card limit from ₹3 lakh to ₹5 lakh. This step has been taken by the Government of India to primarily enhance credit access for farmers, facilitate financial inclusion, promote financial support for agricultural needs and boost rural…
Source: Live Mint After Cabinet cleared it, the new income tax bill is set to be tabled in Parliament next week. The new bill is expected to reduce the number of sections by 25-30 percent to make the law simpler and more concise, Business Standard reported quoting an official without naming him/her. Even the provisos…
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: Pharma stocks experienced a mixed trading session on Saturday following Finance Minister Nirmala Sitharaman’s declaration of exemptions from basic customs duty (BCD) for 36 essential medications. Additionally, six life-saving drugs will only incur a reduced duty rate. “I propose to add 36 lifesaving drugs and medicines to the list of…
Source: Live Mint Budget 2025: In India, the maximum income tax rate is 30 percent for those in the highest income bracket before a surcharge of up to 25 or 37 percent depending on which regime (new or old) and a 4 percent cess on the combined figure. In Budget 2023, the government had cut down…
Source: Live Mint The big day is here! FM Sitharaman will deliver her 8th Budget speech at 11 a.m. Even though it’s a Saturday, stock markets (BSE and NSE) will remain open. This will be her second full Budget under Modi 3.0 and her eighth overall, including six annual and two interim Budgets during the…
Source: Live Mint With less than a week to go for the Union Budget 2025, discussions around capital gains tax have centre stage among market participants. While the concept of capital gains tax is not new, its structure and recent amendments have significantly influenced market sentiments. Capital gains tax is levied on the profit earned…
Source: Live Mint At a recent event in Mumbai, Union Finance Minister Nirmala Sitharaman flagged mis-selling of financial products, particularly related to insurance. Often, consumers buy an insurance product after being prodded by an agent, who could be a friend or a relative. After numerous calls, which culminate in a face-to-face meeting, you decide to…
