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Source: Live Mint But here’s the catch: While Budget 2025 offers a welcome increase in the tax rebate limit, only certain types of income qualify for this benefit. Capital gains, whether from property sales or stock market profits, are excluded from the rebate, meaning Mr. A’s tax savings won’t be as generous as he initially…
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: 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 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 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 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…
Source: Live Mint Budget 2025 brought unexpected cheer to a large section of middle-class taxpayers who opt to file their returns under the new tax regime. Thanks to generous rebates announced, individuals earning up to ₹12 lakh an annum will not be required to pay any tax on incomes from sources such as salary. They…
Source: Live Mint Budget 2025: The Indian stock market experienced high volatility on Saturday, February 1, following the FY26 Union Budget announcement by Finance Minister Nirmala Sitharaman. While the budget introduced major changes in income tax slabs, shifting more money into the hands of middle-class consumers, market sentiment remained mixed due to concerns over government…
Source: Live Mint Finance Minister Nirmala Sitharaman announced a major overhaul of the income tax system while outlining the Budget on Saturday. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime — with benefit of ₹80,000. Sitharaman also proposed a change to the…
