Govt proposes hike in threshold for TDS on rent to ₹6 lakh from current ₹2.4 lakh annual limit
1 month, 4 weeks ago

Govt proposes hike in threshold for TDS on rent to ₹6 lakh from current ₹2.4 lakh annual limit

The Hindu  

The government on Saturday proposed to enhance annual threshold for deduction of tax at source on rent to ₹6 lakh from the current limit of ₹2.4 lakh. Further, threshold amounts for tax deduction will be increased for better clarity and uniformity," Finance Minister Nirmala Sitharaman said in her Budget speech. According to the Budget document, Section 194-I of the Income Tax Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, should deduct income tax at the applicable rates, only when the amount of such rental income exceeds ₹2.4 lakh in a financial year. "It is proposed to increase this threshold amount of income by way of rent for requirement of deduction of tax at source from ₹2.4 lakh in a financial year to ₹50,000 in a month or part of a month," it added.

Tax Budget Lakh Rent Source Tds  lakh  current  tax  govt  24  budget  proposes  limit  annual  income  deduction  source  tds  threshold  rent  hike

History of this topic

Budget provides ‘marginal relief’ for those taxpayers whose income exceeds ₹12 lakh p.a., says Nirmala Sitharaman
Trending News
5 days, 22 hours ago

Budget provides ‘marginal relief’ for those taxpayers whose income exceeds ₹12 lakh p.a., says Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Tuesday said the Finance Bill 2025 provides unprecedented tax relief, and the 13.14% projected growth in personal income tax collection is "realistic" and supported by solid data. Union Budget 2025: Tax bonanza for middle class In the 2025-26 Budget, the government has hiked income tax rebate to ₹12 lakh per annum from ₹7 lakh earlier. …

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know
3 weeks, 4 days ago

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know

India TV News  

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know India’s taxation system is an evolving structure aimed at economic growth and equitable revenue distribution. With continuous reforms, the central government aims to simplify tax compliance, reduce the burden on taxpayers, and enhance ease of doing business. In a significant move to simplify …

CBDT FY24-25 guidelines consolidate changes in TDS, exemptions & other salary deductions made in last 2 years
1 month, 1 week ago

CBDT FY24-25 guidelines consolidate changes in TDS, exemptions & other salary deductions made in last 2 years

New Indian Express  

In a major relief for salaried individuals, the maximum exemption for leave encashment at the time of retirement for non-government employees has been raised to ₹25,00,000. This update is part of a circular issued by the Central Board of Direct Taxes, which provides comprehensive guidance on income tax deduction from salaries under the Income-tax Act, 1961 for the financial year …

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’
1 month, 2 weeks ago

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

Budget 2025: Key personal finance tax changes that will affect taxpayers
1 month, 2 weeks ago

Budget 2025: Key personal finance tax changes that will affect taxpayers

Live Mint  

The recently announced budget introduced significant personal finance changes impacting taxpayers and investors. It has been clarified by the Finance Ministry that if the annual premium exceeds ₹2.5 lakhs the redemption becomes subject to capital gains tax. Timeline for filing updated income tax returns has been extended One more crucial development has been that the timeline for filing updated income …

Income Tax Bill to make rules simpler, easy to read
1 month, 3 weeks ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju
1 month, 3 weeks ago

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

Live Mint  

The finance ministry expects ₹40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to ₹12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday. Union Budget 2025, which finance minister Nirmala Sitharaman presented on Saturday, proposed an increase …

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains
1 month, 4 weeks ago

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains

Hindustan Times  

Union finance minister Nirmala Sitharaman has said the government increased the income tax exemption from ₹7 lakh to ₹12 lakh to reduce the tax burden on people earning ₹1 lakh per month. Nirmala Sitharaman added that the government was also lowering tax slab rates and widening tax brackets to give relief to taxpayers across all income levels. She added that, …

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check
1 month, 4 weeks ago

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check

Live Mint  

Imagine getting a salary bump, only to find that your tax bill eats up most—if not all—of your raise. Thankfully, marginal relief has your back, ensuring that small increases in income don’t result in a huge spike in tax outgo. View Full Image Marginal relief ensures that the maximum tax outgo on income that marginally exceeds ₹ 12 lakh is …

Budget 2025 hikes TDS limit for bank FD | Check all details
1 month, 4 weeks ago

Budget 2025 hikes TDS limit for bank FD | Check all details

Hindustan Times  

The Union Budget 2025 proposes to increase the limit for tax deduction at source on fixed deposit interest for general citizens. Banks are required to deduct tax at source when interest paid to account holders goes over the specified threshold in one financial year. TDS on FDs Banks are required to deduct tax at source when interest paid to account …

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh
Top News
1 month, 4 weeks ago

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh

Live Mint  

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 announced on Saturday that there would be “no income tax payable up to income of ₹12 …

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief
1 month, 4 weeks ago

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief

India Today  

The Central Board of Direct Taxes Chairman Ravi Agrawal said that over 90 per cent of individual taxpayers are expected to adopt the new tax regime, up from the current 75 per cent, after Finance Minister Nirmala Sitharaman announced zero tax for earnings of up to Rs 12 lakh per annum in her Union Budget 2025 speech. Sitharaman, on Saturday, …

Union Budget 2025: Tax bonanza for middle class
Trending News
1 month, 4 weeks ago

Union Budget 2025: Tax bonanza for middle class

The Hindu  

If your car is sputtering, and a faulty fading battery appears to be the cause, the only immediate alternative is to try and jumpstart it by hooking it up with another running car. Finance Minister Nirmala Sitharaman sought to do just that on Saturday with her Union Budget for 2025-26 — jumpstart slowing economic activity with a significant ₹1 lakh …

TDS limit for senior citizens doubled to Rs 1 lakh
1 month, 4 weeks ago

TDS limit for senior citizens doubled to Rs 1 lakh

Deccan Chronicle  

Mumbai: Finance Minister Nirmala Sitharaman, in the Union Budget 2025, proposed to double the limit for tax deducted at source on interest income for senior citizens to Rs 1 lakh. Additionally, the Budget proposed raising the threshold for TDS on rent to Rs 6 lakh from the current Rs 2.4 lakh, which would significantly reduce the TDS transactions for those …

Budget 2025 | No tax for incomes up to ₹12 lakh
Top News
1 month, 4 weeks ago

Budget 2025 | No tax for incomes up to ₹12 lakh

The Hindu  

With an objective to boost household consumption and aggregate demand, Finance Minister Nirmala Sitharaman announced on Saturday that incomes up to ₹12 lakh would draw no income tax. To boost consumption, savings and investment Explaining the rationale for the revision in taxation limit, the Minister said the new structure would substantially reduce taxes for the middle class and provide more …

Union Budget 2025: How compliance burden of senior citizens has been eased and how it works
1 month, 4 weeks ago

Union Budget 2025: How compliance burden of senior citizens has been eased and how it works

Live Mint  

In addition to lowering income tax payable by individuals, Budget 2025 gave citizens relief by raising the threshold for tax deducted at source and removing conditions on declaring a second house as self-occupied for tax purposes. Like the lowering of taxes on personal income tax, the raising of the threshold for TDS will put more money in the hands of …

Despite hike in exemption limit, income tax receipts to go up by 13 p
1 month, 4 weeks ago

Despite hike in exemption limit, income tax receipts to go up by 13 p

Deccan Chronicle  

Chennai: Despite the Centre's move to increase tax exemption limit to Rs12 lakh annual income and making 30 per cent tax slab payable for those with Rs 24 lakh income, the personal income tax receipts of the government are estimated to go up by 13.4 per cent. Both personal income tax and direct taxes will see their share in revenue …

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice
1 month, 4 weeks ago

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice

Hindustan Times  

Samajwadi Party MP Dimple Yadav on Saturday criticised Union Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha, saying that there was "nothing new" in the Budget. Asserting that there was "nothing new" in the Union Budget, Samajwadi Party MP Dimple Yadav attacked it on Saturday when Finance Minister Nirmala Sitharaman delivered it to the lawmakers. Union Finance Minister …

Mint Quick Edit | Sitharaman’s income tax bonanza: Time to rejoice
1 month, 4 weeks ago

Mint Quick Edit | Sitharaman’s income tax bonanza: Time to rejoice

Live Mint  

India’s middle class has reason to rejoice. Finance minister Nirmala Sitharaman has eased income tax burden under the new regime across the board. The threshold level for zero income tax, for instance, has been bumped up to ₹12 lakh annually from ₹7 lakh. It also means that the tiny base of individuals who pay tax will get tinier, making India …

Budget 2025: FM Sitharaman explains how taxpayers will save up to ₹2.6 lakh under new tax rates
Top News
1 month, 4 weeks ago

Budget 2025: FM Sitharaman explains how taxpayers will save up to ₹2.6 lakh under new tax rates

Live Mint  

Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday announced new tax slab rates under the new tax regime during her Budget 2025 speech, which will benefit taxpayers across the board. During a press briefing after the Budget 2025 speech, Sitharaman said that not only those earning ₹12 lakh will not have to pay any tax, but there will be …

TDS limit on rent increased to Rs 6 lakh: Who actually benefits from this?
1 month, 4 weeks ago

TDS limit on rent increased to Rs 6 lakh: Who actually benefits from this?

India Today  

Finance Minister Nirmala Sitharaman on Saturday announced that the annual tax deducted at source limit of Rs 2.40 lakh on rent is being increased to Rs 6 lakh. By raising the annual TDS on rent threshold from Rs 2.40 lakh to Rs 6 lakh, fewer smaller-value rental transactions will require TDS to be deducted." It primarily benefits landlords who receive …

Budget 2025: No income tax upto ₹12 lakh income. Here’s how much you will save
Top News
1 month, 4 weeks ago

Budget 2025: No income tax upto ₹12 lakh income. Here’s how much you will save

Live Mint  

Union Finance Minister Nirmala Sitharaman on Budget 2025 announced that there will be no income tax on income upto ₹12 lakh. Salaried taxpayers are now entitled to claim standard deduction of ₹75,000 which means even if their income is upto ₹12.75 lakh, they wont have to pay any income tax. Let us understand how this happens: Income Tax For income …

All personal finance updates from Budget 2025
1 month, 4 weeks ago

All personal finance updates from Budget 2025

Live Mint  

Finance minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on 1 February, introducing a series of measures aimed at easing taxpayers’ burden. Here’s a breakdown of the key changes: No tax on income up to ₹ 12 lakh In a major relief for taxpayers, the Union Budget has proposed raising the tax-free income threshold to ₹12 lakh, up from ₹7 …

’Ye jo hawa chali hui hai…’: Entrepreneur decodes income tax relief up to ₹12 lakh in Budget 2025
1 month, 4 weeks ago

’Ye jo hawa chali hui hai…’: Entrepreneur decodes income tax relief up to ₹12 lakh in Budget 2025

Live Mint  

Finance Minister Nirmala Sitharaman announced a major overhaul of the income tax system on Saturday with changes to the exemption limits. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime other than special rate income such as capital gains. The fintech startup founder went on to remind that …

Budget 2025: Relief for taxpayers to simplified TDS, 10 major Income Tax announcements by FM Nirmala Sitharaman
1 month, 4 weeks ago

Budget 2025: Relief for taxpayers to simplified TDS, 10 major Income Tax announcements by FM Nirmala Sitharaman

Live Mint  

Budget 2025 Finance Minister Nirmala Sitharaman presented the union budget in Parliament on Saturday, with steps aimed to woo the salaried middle class with tax cuts. Key income tax announcements from the Budget 2025 1)No income tax on annual income up to ₹ 12.75 lakh The government has raised the Section 87A rebate limit from ₹7 lakh to ₹12 lakh, …

Union Budget 2025 has good news on income tax for NRIs too
1 month, 4 weeks ago

Union Budget 2025 has good news on income tax for NRIs too

Firstpost  

Under the revised New Income Tax Regime for 2025, the tax-free income threshold, including the standard deduction, has been raised to Rs 12.7 lakh. Additionally, individuals earning up to Rs 25 lakh will benefit from a tax reduction of up to Rs 1.1 lakh Union Budget 2025 has been a treat to the middle class after Finance Minister Nirmala Sitharaman …

Budget 2025: Nirmala Sitharaman’s big announcement for senior citizens
1 month, 4 weeks ago

Budget 2025: Nirmala Sitharaman’s big announcement for senior citizens

Live Mint  

The Union budget for FY26 has raised thresholds for tax deducted at source across various income sources. Currently, TDS is deducted at interest income above ₹50,000 for senior citizens with total income less than the tax exemption limit of ₹3 lakh. TCS on foreign transactions In another change, the threshold after which TCS on foreign transactions done under the Liberalized …

Budget 2025: 3 big changes to ease TDS and TCS burden on Indians
1 month, 4 weeks ago

Budget 2025: 3 big changes to ease TDS and TCS burden on Indians

Firstpost  

In the Union Budget 2025-26, Union Finance Minister Nirmala Sitharaman proposed to raise the threshold of tax deducted at source and tax collected at source In the Union Budget 2025-26, Union Finance Minister Nirmala Sitharaman proposed to ease and simplify tax deducted at source and tax collected at source. Sitharaman proposed to increase the annual limit for TDS on rent …

Budget 2025: TDS limit for rent payment raised to ₹6 lakh; no TCS on remittances for study abroad
1 month, 4 weeks ago

Budget 2025: TDS limit for rent payment raised to ₹6 lakh; no TCS on remittances for study abroad

Live Mint  

Union Budget 2025: Finance Minister Nirmala Sitharaman during Budget 2025 proposed to rationalise tax deduction at source by reducing the number of rates and thresholds above which TDS is deducted. She introduced a number of key reforms with regards to rent payments, remittances, higher education, sale of goods and decriminalisation of offenders. Rent payment: The annual limit of 2.40 lakh …

Union Budget 2025: TDS threshold limits hiked for rent, foreign travel | See full list
1 month, 4 weeks ago

Union Budget 2025: TDS threshold limits hiked for rent, foreign travel | See full list

Hindustan Times  

Union finance minister Nirmala Sitharaman in her Budget 2025 speech on Saturday proposed to rationalise tax deduction at source by reducing the number of rates and thresholds above which TDS is deducted. Union Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26 in the Lok Sabha, in New Delhi, Saturday, Feb. 1, 2025. In her 8th consecutive budget speech, Nirmala …

No TCS On Sale Of Goods; Changes To TDS/TCS Regime : Union Budget 2025 Proposals
1 month, 4 weeks ago

No TCS On Sale Of Goods; Changes To TDS/TCS Regime : Union Budget 2025 Proposals

Live Law  

With an aim to reform the personal income tax regime with a special focus on middle-class citizens, the Union Finance Minister Nirmala Sitaraman has introduced key changes in the Budget 2025-26 at the August gathering today. Rationalisation of TDS and TCS With an aim to rationalise Deducted at Source and Tax Collected at Source, the following measures have been introduced: …

No TCS On Sale Of Goods; Changes To TDS/TCS Regime : Union Budget 2025 Proposals
1 month, 4 weeks ago

No TCS On Sale Of Goods; Changes To TDS/TCS Regime : Union Budget 2025 Proposals

Live Law  

With an aim to reform the personal income tax regime with a special focus on middle-class citizens, the Union Finance Minister Nirmala Sitaraman has introduced key changes in the Budget 2025-26 at the August gathering today. Rationalisation of TDS and TCS With an aim to rationalise Deducted at Source and Tax Collected at Source, the following measures have been introduced: …

Budget 2025: Nirmala Sitharaman announces rejig of income tax rates — Here’s how slabs have changed under new tax regime
1 month, 4 weeks ago

Budget 2025: Nirmala Sitharaman announces rejig of income tax rates — Here’s how slabs have changed under new tax regime

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 announced on Saturday that there would be “no income tax payable upto income of …

Union Budget 2025: Tax deduction on interest for senior citizens doubled from Rs 50,000 to Rs 1 lakh
1 month, 4 weeks ago

Union Budget 2025: Tax deduction on interest for senior citizens doubled from Rs 50,000 to Rs 1 lakh

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday said tax deductions at source will be rationalised for senior citizens and doubled from Rs 50,000 to Rs 1 lakh Finance Minister Nirmala Sitharaman on Saturday said tax deductions at source will be rationalised for senior citizens and doubled from Rs 50,000 to Rs 1 lakh. The limit for tax deduction on interest for …

Union Budget 2025: Tax deduction on interest for senior citizens doubled from Rs 50,000 to Rs 1 lakh
1 month, 4 weeks ago

Union Budget 2025: Tax deduction on interest for senior citizens doubled from Rs 50,000 to Rs 1 lakh

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday said tax deductions at source will be rationalised for senior citizens and doubled from Rs 50,000 to Rs 1 lakh Finance Minister Nirmala Sitharaman presents 2025 Union Budget. ANI Finance Minister Nirmala Sitharaman on Saturday said tax deductions at source will be rationalised for senior citizens and doubled from Rs 50,000 to Rs 1 …

Budget 2025: TDS reforms announced, limit for senior citizens doubled
1 month, 4 weeks ago

Budget 2025: TDS reforms announced, limit for senior citizens doubled

India Today  

Finance Minister Nirmala Sitharaman, while tabling the Union Budget 2025 announced reforms related to tax deductions at source, and focused on senior citizens easing their financial woes. She also announced rationalising the TDS for senior citizens and increasing the threshold from Rs 50,000 to Rs 1,00,000. Sandeep Chilana, Managing Partner, CCLaw, said, “The increase in the TDS threshold for various …

Budget 2025: This is how the new tax rates will impact your tax outgo
1 month, 4 weeks ago

Budget 2025: This is how the new tax rates will impact your tax outgo

Live Mint  

Union Budget 2025: During the Budget speech, Nirmala Sitharaman announced the new tax rates under the new tax regime. These are the new rates 0-4 lakh Nil 4 to 8 lakh 5 per cent 8-12 10 percent 12-16 lakh 15 per cent 16-20 lakh 20 percent 20-24 lakh 25 per cent Above 24 lakh 30 per cent Tax saving across …

Budget 2025: FM Nirmala Sitharaman says nearly 90 lakh paid additional tax; extends time limit for updated tax returns
1 month, 4 weeks ago

Budget 2025: FM Nirmala Sitharaman says nearly 90 lakh paid additional tax; extends time limit for updated tax returns

Live Mint  

Budget 2025: The Union Finance Minister Nirmala Sitharama on while presenting the Union Budget on February 1 said that nearly 90 lakh taxpayers voluntarily updated their incomes by paying additional tax. Income Tax Budget 2025 LIVE In her budget speech, Finance Minister Sitharamn said, “In line with this, we brought in updated return facility in 2022 for voluntary compliance by …

Massive announcement by Nirmala Sitharaman, middle-class gets new income tax structure
1 month, 4 weeks ago

Massive announcement by Nirmala Sitharaman, middle-class gets new income tax structure

Hindustan Times  

In a massive relief to the middle class, union finance minister Nirmala Sitharaman on Saturday announced an increased income tax exemption limit during her eighth Budget speech. I am now happy to announce that there will be no income tax up to an income of ₹12 lakhs," Sitharaman said. Full details on the income tax slabs under new regime For …

TDS For Senior Citizens Increased From Rs 50,000 To Rs 1,00,000, Says Sitharaman
Top News
1 month, 4 weeks ago

TDS For Senior Citizens Increased From Rs 50,000 To Rs 1,00,000, Says Sitharaman

ABP News  

Union Finance Minister Nirmala Sitharaman announced that the TDS deduction for senior citizens has been increased from Rs 50,000 to Rs 1,00,000 in the budget 2025-26. Sitharaman also said that the annual limit on rent has been raised to 6 lakh for TDS for senior citizens during her Budget 2025 speech in the parliament. FM Nirmala Sitharaman, said "I propose …

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 4 weeks ago

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime

Live Mint  

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. "To tax payers upto ₹12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by …

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 4 weeks ago

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime

Live Mint  

Finance Minister Nirmala Sitharaman gave taxpayers a big relief in Union Budget 2025-26 by making income up to ₹12 lakh tax-free from ₹7 lakh earlier. "To tax payers upto ₹12 lakh of normal income tax rebate is being provided in addition to the benefit due to slab rate reduction in such a manner that there is no tax payable by …

Nirmala Sitharaman says annual TDS limit on rent to be increased from ₹2.40 lakh to ₹6 lakh in Union Budget 2025
1 month, 4 weeks ago

Nirmala Sitharaman says annual TDS limit on rent to be increased from ₹2.40 lakh to ₹6 lakh in Union Budget 2025

Hindustan Times  

The annual limit for Tax Deducted at Source or TDS on rent will be increased from ₹2.40 lakh to ₹6 lakh, announced finance minister Nirmala Sitharaman while presenting the Union Budget 2025 on Saturday. A man watches finance minister Nirmala Sitharaman presenting the Union Budget 2025-26 on television screens at a showroom, in Patna, Saturday, Nirmala Sitharaman also announced the …

Budget 2025: Annual limit for TDS on rent to be increased from ₹2.40 lakh to ₹6 lakh
1 month, 4 weeks ago

Budget 2025: Annual limit for TDS on rent to be increased from ₹2.40 lakh to ₹6 lakh

Live Mint  

Budget 2025: In her Budget 2025-26 speech, FM Nirmala Sitharaman raised the threshold on rent to ₹6 lakh. “This will reduce the number of transactions liable to TDS, thus benefiting small taxpayers receiving small payments,” Sitharaman said in her Budget speech. Further, threshold amounts for tax deduction will be increased for better clarity and uniformity.” Earlier, the TDS on rent, …

Budget 2025: Hike in basic exemption limit to boost in NPS, taxpayers could expect three key changes today
1 month, 4 weeks ago

Budget 2025: Hike in basic exemption limit to boost in NPS, taxpayers could expect three key changes today

India TV News  

Union Finance Minister Nirmala Sitharaman is all set to present to the Union Budget 2025 at 11 am. This time, she might announce some major changes to the new income tax regime in the Budget 2025 to make it more attractive for individual taxpayers. Hike in basic exemption limit One of the key changes could be an increase in the …

Consumer-facing businesses get a boost from income tax cuts
1 month, 4 weeks ago

Consumer-facing businesses get a boost from income tax cuts

New Indian Express  

MUMBAI: Consumer-facing businesses—ranging from everyday consumables to big-ticket items like automobiles—are optimistic that the government’s decision to cut personal income tax will lead to higher disposable income, ultimately driving demand. Finance Minister Nirmala Sitharaman on Saturday proposed exempting income up to Rs 12 lakh from tax, with salaried taxpayers benefiting from a higher exemption limit of Rs 12.75 lakh due …

Budget 2025: New norms for TDS, TCS introduced
1 month, 4 weeks ago

Budget 2025: New norms for TDS, TCS introduced

New Indian Express  

BENGALURU: In a significant step to simplify the tax regime and also to reduce the compliance burden, the government has announced to reduce the number of TDS rates. "The limit for tax deduction on interest for senior citizens is being doubled from the present Rs 50,000 to Rs 1 lakh," Finance Minister Nirmala Sitharaman said. The TDS limit increase for …

Budget 2025: Will government raise basic exemption limit and cut income tax?
2 months ago

Budget 2025: Will government raise basic exemption limit and cut income tax?

India Today  

Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, and one of the most awaited announcements will be the tax relief measures for salaried individuals and middle-class taxpayers. Experts believe the budget could bring changes in income tax slabs, raise the basic exemption limit, and deductions under the new tax regime, and deadlines for tax filing, …

Budget 2025: Reimagining The New Income Tax Regime
2 months ago

Budget 2025: Reimagining The New Income Tax Regime

ABP News  

Every year, Indians await the budget anticipating the changes it will bring to their life. The widely adopted new tax structure announced in 2021 does a good job of simplifying the tax structure, however, more can and needs to be done to encourage financial discipline and equity across income groups. Raise Threshold For The 30% Income Tax Slab The current …

Discover Related