Budget 2025: Rs 12 lakh annual income tax-free but you can’t include THESE incomes for benefit
Not all your incomes qualify for the rebate benefit under Section 87A. Income from capital gains, lotteries, and other categories taxed at special rates remains ineligible for the rebate, leaving many taxpayers with unexpected liabilities.
Key Proposals of Union Budget, 2025 (Income Tax)
Vide Finance Act 2022, taxation of virtual digital assets (VDA) has been introduced in the Income-tax Act, 1961 (‘the Act’), under section 115BBH of the Act in which the transfer of VDA is to be taxed at the rate of 30% with no deduction in respect of expenditure (other than cost of acquisition) to be allowed.
New vs old income tax regime after Budget 2025: Post income tax slab changes, which tax regime is better for salaried middle class taxpayers?
Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the midd
New income tax slabs for FY 2025-26: 30% tax now starts at Rs 24 lakh, income up to Rs 20 lakh to be taxed at 20% in Budget 2025
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.
Takeaways From India's Budget That Slashes Income Tax on the Salaried Middle Class to Spur Growth
Indian Prime Minister Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and
‘Indira Govt Would’ve Taken Rs 10 Lakh Tax On Rs 12 Lakh Income’: PM Modi Hails Budget
As the campaigning for the Delhi Assembly polls enters its last leg, Prime Minister Narendra Modi on Sunday said the Union Budget has brought cheer to every average household even as he called it the "most middle class friendly budget in India's history".
Union Budget 2025: PM Modi announces tax-free income up to Rs 12 Lakh, major relief for middle class
In Union Budget 2025, Prime Minister Narendra Modi unveiled significant tax reforms aimed at benefiting the middle class. He states, “In this budget, income up to Rs 12 lakh per annum has been made tax-free.
Budget 2025: From new income tax slabs & rates to TDS, TCS & NPS Vatsalya - top 7 income tax takeaways for middle class
Budget 2025 introduces key personal tax reforms focusing on Viksit Bharat. Amendments include a new income-tax bill, revised ...
Budget 2025: Tax deductions, exemptions under New Tax Regime and Old Tax Regime for FY2025-26
In Budget 2025, the government opted not to modify the existing tax regime or introduce any new deductions. Finance Minister ...
Budget 2025 Income Tax Slab: Tax Slab under New Regime for AY 2025-26; Check All Details Here!
Learn about the new and old tax regimes, including tax rates and surcharges applicable to various income levels.
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New income tax slabs in Budget 2025: Income between 20 to 24 lakhs to attract 25% tax
The updated slabs show a shift in the tax-free income threshold from Rs 3 lakh to Rs 4 lakh, which is expected to provide significant relief to low-income taxpayers ...
ITR 2024-25: Are the latest Budget 2025 tax slabs applicable for tax filing in AY 2025-06? Details here
In the Budget 2025, middle-class taxpayers have received some relief. Under the new tax regime announced by Finance Minister ...
Income Tax Slab Budget 2025-26 Update: FM Sitharaman says New Income Tax Bill to be introduced...
Union Finance Nirmala Sitharaman while presenting Union Budget 2025-26 said the government will introduce a New Income Tax ...
Budget 2025: How should equity traders asses FM’s income tax rebates? Experts weigh in
Equity traders are excluded from tax reliefs, raising concerns as market focus shifts to RBI’s monetary policy. The Union ...
Income tax on crypto currency: How did budget 2025 impact the taxation on virtual digital assets?
Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they ...
Budget 2025 tax reliefs to boost bank deposits by Rs 45,000 crore, Strengthen credit growth: DFS Secretary
These budget measures will provide liquidity to the banks, making them more comfortable in lending. The rise in deposits will ...