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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 Finance Minister Nirmala Sitharaman presented an annual budget to Parliament on Saturday that focused on wooing the salaried middle class with tax cuts. In a booster dose for the middle class, she announced an exemption from income tax up to ₹12 lakh. This limit will be ₹12.75 lakh for salaried…
Source: Live Mint Income tax Budget 2025 LIVE: Finance Minister Nirmala Sitharaman will present Budget 2025 at 11 am on February 1. Will the focus be on potential changes to income tax slabs, exemptions, and deductions? What are the expectations of the middle class? Will they get any relief from Union Budget 2025 announcements? Will…
Source: Live Mint As Budget 2025 draws near, middle-class taxpayers are looking forward to possible income tax revisions that could provide much-needed relief. In her eighth straight budget, will Finance Minister Nirmala Sitharaman make any announcements that will majorly impact the middle class by increasing their disposable income and promoting long-term financial growth? All eyes…
Source: Live Mint Income Tax Budget 2025: The Union Budget in July 2024 disappointed individual taxpayers with limited changes. Now, the salaried class are keenly awaiting whether the upcoming Budget 2025 will deliver the much-needed tax relief to alleviate mounting financial pressures. The emloyeed class expects relief in the budget on tax costs they bear…
Source: Live Mint With just three days to go for the Budget 2025, there are concerns over whether Finance Minister Nirmala Sitharaman will abandon the previous income tax system as the Union Budget 2025 deadline draws near. Many experts speculate that it may soon be eliminated with an increasing number of taxpayers opting for the…
Source: Live Mint Former Infosys CFO TV Mohandas Pai highlighted the growing burden on the middle class due to rising inflation, increasing EMIs, and escalating education costs. In an insightful interview with Mint, Pai, a prominent voice in Indian business and finance, outlined a set of key reforms needed for the country .”The middle class…
Source: Live Mint Standard Deduction: Income taxpayers can lower their income without providing any documentation or disclosures by using the standard deduction, which is a fixed sum subtracted from taxable salary income. After being eliminated for several years, the standard deduction provision was reinstated in the 2018 budget announcement. Under Section 16 of the Income…
Source: Live Mint As the Union Budget 2025 draws near, there’s a growing buzz about potential changes in Income Tax policies for the common man. Experts have offered several recommendations focusing on significant changes to personal income tax, specific tax areas like EVs and crypto, housing benefits, savings incentives, and more. These proposed reforms aim…
Source: Live Mint Budget 2024 eliminated indexation advantages and rationalized capital gains tax on several products. With very few notable exceptions, we anticipate that this year’s budget will mainly continue in the same direction. As demonstrated by previous budgets, the administration will probably keep concentrating on fiscal consolidation. Union Budget 2025 wish list Streamlining the…
