Feb 1, 2025 · The government in Union Budget 2025 has proposed a tax of ... Screengrab/Budget Document/Govt of India. Income Tax slabs: Union Budget 2024. In 2024, the finance minister had brought significant ...

Budget 2025 Income tax slab changes: The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh. However, the new tax regime offers limited deductions to taxpayers. Read this story to understand the income tax slabs proposed for the upcoming financial year …

Feb 1, 2025 · FM Nirmala Sitharaman concluded the Union Budget 2025-26 with major relief for the middle class, announcing zero income tax on annual earnings up to ₹12 lakh. Additionally, the TDS exemption limit on rent was increased from ₹2.40 lakh to ₹6 lakh, benefiting small taxpayers.

Feb 1, 2025 · Latest income tax slabs FY 2025-26: Finance Minister Nirmala Sitharaman announced sweeping changes in the new income tax regime, announcing revamped income tax slabs and income tax rates for the salaried taxpayers, individual taxpayers, common …

1 day ago · By Parizad Sirwalla Budget 2025 income tax: In the run up to the Budget 2025, individual taxpayers were eagerly looking forward to favorable tax reforms.The FM seems to have brought some cheer to ...

Feb 1, 2025 · Despite income tax rate cuts, the Centre’s gross income tax receipts for 2025-26 is budgeted at Rs 14.38 lakh crore, which is 21.1% higher than the budget estimate of Rs 11.87 crore for 2024-25. Even for 2024-25, the revised estimate of gross income tax revenues at Rs 12.57 lakh crore is higher than the budgeted Rs 11.87 lakh crore.

Union Budget for 2025-26 largely focused on ease of doing business, rationalisation of the personal income tax slabs to encourage domestic consumption, further push to the flow of institutional...

Jan 31, 2025 · For salaried individuals opting for the new tax regime, income of up to Rs 12,75,000 will be tax-free. Section 87A rebate has been increased to 60,000, from its previous threshold of Rs 25,000 under the new tax regime.

Feb 1, 2025 · Indian Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the federal budget in the Parliament in New Delhi, India, Saturday, Feb. 1, 2025.

Budget 2025, Income Tax Slabs and Rates 2025 LIVE Updates: Finance Minister Nirmala Sitharaman announced that no income tax will be due for those with annual income up to Rs 12 lakh, among other changes in the tax slab. ... Income Tax Budget 2025 LIVE Updates: India Post to be turned into large logistic body with 1.5 lakh rural post offices