Big tax relief for middle class, push for agriculture, MSMEs: Takeaways of Union Budget 2025-2026
1 month, 2 weeks ago

Big tax relief for middle class, push for agriculture, MSMEs: Takeaways of Union Budget 2025-2026

Firstpost  

Nirmala Sitharaman made a slew of huge announcements during the 2025-2026 Union Budget speech – perhaps none bigger than that there would be no tax on income up to Rs 12 lakh under the new regime. Catch all the live updates from As per Mint, Sitharaman said taxpayers under the new regime earning up to Rs 12 lakh would have to pay zero income tax. “The program will focus on rural women, young farmers, rural youth, marginal and small farmers, and landless families.” Nirmala Sitharaman said the Pradhan Mantri Dhan Dhanya Krishi Yojana would merge existing schemes and will be carried out in partnership with states. As per Mint, Sitharaman said she would raise FDI in insurance for firms which invest entire premium in India from 74 to 100 per cent. Nirmala Sitharaman said she would raise FDI in insurance for firms which invest entire premium in India from 74 to 100 per cent.

India Tax Budget Income Middle Class Centre Cent Lakh Mint Big Nirmala Sitharaman Yojana Tds Bcd Pradhan Mantri Kcc Customs Duty Union Budget Rs 12 Lakh Business Today Sitharaman Announced Chilana Dhanya Krishi Rs Rural  msmes  push  class  budget  rs  rural  india  union  relief  sitharaman  announced  lakh  cent  takeaways  tax  big  middle  income

History of this topic

Changes to be made in Ladki Bahin: Ajit
3 days, 23 hours ago

Changes to be made in Ladki Bahin: Ajit

Hindustan Times  

MUMBAI: In order to minimise the financial stress on the state exchequer, burdened by populist schemes announced ahead of the Assembly elections last year, on Monday deputy chief minister Ajit Pawar said changes will be made in the Mahayuti government’s flagship Mukhyamantri Ladki Bahin Yojana. Pawar’s announcement also comes amid concerns of funds crunch in the state’s coffers, with allegations …

‘I Never Said This’: Ajit Pawar Says ‘No Timeline’ On Hiking Ladki Behin Allowance To Rs 2100
Trending News
1 week, 4 days ago

‘I Never Said This’: Ajit Pawar Says ‘No Timeline’ On Hiking Ladki Behin Allowance To Rs 2100

ABP News  

Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Monday clarified that he never promised an increase in the Ladki Behin Yojana allowance from ₹1,500 to ₹2,100. His statement came as the Maharashtra government allocated ₹36,000 crore for the Mukhyamantri Majhi Ladki Bahin scheme in the state budget for 2025-26 but did not announce an increase in the financial …

Government seeks Parliament nod to spend ₹51,463 crore extra in current financial year
1 week, 4 days ago

Government seeks Parliament nod to spend ₹51,463 crore extra in current financial year

The Hindu  

Finance Minister Nirmala Sitharaman on Monday tabled a statement in the Lok Sabha seeking the Parliament’s approval to spend a net additional amount of ₹51,462.86 crore in the current financial year ending March. The gross additional spending sought by the government is over ₹6.78 lakh crore, of which ₹6.27 lakh crore would be matched by savings and receipts. The net …

AP presents Rs 3.2 lakh crore budget for 2025-26, priority to welfare
Trending News
3 weeks ago

AP presents Rs 3.2 lakh crore budget for 2025-26, priority to welfare

Deccan Chronicle  

Vijayawada: In a major step towards fulfilling the super-six poll promises made by Chandrababu Naidu, Finance Minister Payyavula Keshav announced substantial allocations for these in the annual budget for 2025-26. Interestingly, the alliance government showed enhanced revenue receipts of Rs 2,17,977 crore, which was Rs 41,946 crore more than the Rs 1,76,031 crore of the 2024-25 revised budget estimates. Further, …

Uttarakhand government unveils Rs 1,01,175 crore budget with focus on infrastructure, welfare
1 month ago

Uttarakhand government unveils Rs 1,01,175 crore budget with focus on infrastructure, welfare

New Indian Express  

DEHRADUN: In a bold move to enhance infrastructure while maintaining economic stability, the Pushkar Singh Dhami-led Uttarakhand government has unveiled a Rs 1,01,175.33 crore budget for the financial year 2025-26. "This budget focuses on key sectors such as agriculture, industry, energy, infrastructure, connectivity, tourism, and Ayush," Aggarwal stated, underscoring the government's commitment to fostering growth across multiple domains. In an …

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’
1 month, 1 week ago

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’

Live Mint  

Aam Aadmi Party MP Raghav Chadha on Friday said Union Finance Minister Nirmala Sitharaman tried to complicate his words at the Rajya Sabha the day before regarding his explanation on the income tax rebate announced in Budget 2025. “Yesterday the Union Finance Minister Nirmala Sitharaman in the Rajya Sabha said I tried to mislead the house. He explained that one …

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’
1 month, 1 week ago

AAP MP Raghav Chadha questions Nirmala Sitharaman’s ₹12 lakh income tax relief for middle class: ‘Is it untrue…’

Live Mint  

Aam Aadmi Party MP Raghav Chadha on Friday said Union Finance Minister Nirmala Sitharaman tried to complicate his words at the Rajya Sabha the day before regarding his explanation on the income tax rebate announced in Budget 2025. “Yesterday the Union Finance Minister Nirmala Sitharaman in the Rajya Sabha said I tried to mislead the house. He explained that one …

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament
Trending News
1 month, 1 week ago

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament

Firstpost  

The new Income Tax Bill is intended to simplify the direct taxation regime in India and replace the Income Tax Act of 1961 Union Finance Minister Nirmala Sitharaman on Thursday tabled the new Income Tax Bill in the parliament. The new Income Tax bill is meant to simplify the direct taxation regime and replace the Income Tax Act of 1961. …

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

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts
1 month, 1 week ago

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts

The Hindu  

BJP returns to power in Delhi after 26 years The BJP on Saturday returned to power in Delhi after more than 26 years to sweep away the Arvind Kejriwal-led Aam Aadmi Party with a two-thirds majority on the back of a hyper localised campaign. Union Budget: No income tax up to ₹12 lakh, tax slabs revised Finance Minister Nirmala Sitharaman …

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today
1 month, 1 week ago

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today

India Today  

Finance Minister Nirmala Sitharaman is likely to table the new Income Tax Bill, aimed to reform the country's taxation system, in the Lok Sabha on Monday, sources told India Today TV. The bill, which got the approval of the Union Cabinet on Friday, will replace the six-decade-old Income Tax Act, and will be sent to the Standing Committee for detailed …

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill
1 month, 1 week ago

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill

Live Mint  

Finance Minister Nirmala Sitharaman said on Saturday, February 8, 2025 that fiscal and monetary measures announced by the government and the central bank recently will help boost consumption and promote private investment. 'Tax relief, interest rate cut to boost consumption' As a result of tax relief proposals, the government will forego revenue of ₹1 lakh crore in direct taxes and …

Finance Minister Nirmala Sitharaman says income tax and RBI rate cut will boost economy: Report
1 month, 1 week ago

Finance Minister Nirmala Sitharaman says income tax and RBI rate cut will boost economy: Report

Hindustan Times  

The income tax relief which the Budget 2025 provided, coupled with the Reserve Bank of India's repo rate cut will boost recovery in consumption in the economy, a report by news agency ANI quoted Finance Minister Nirmala Sitharaman as saying. Union Finance Minister Nirmala Sitharaman during an interview with PTI, in New Delhi, Sunday, Feb. 2, 2025. Besides this, the …

When Will The New Income Tax Rates Come Into Effect?
1 month, 2 weeks ago

When Will The New Income Tax Rates Come Into Effect?

ABP News  

Finance Minister Nirmala Sitharaman announced a major income tax relief in her Budget 2025 speech on Saturday, stating that no tax will be payable on annual incomes up to Rs 12 lakh under the New Tax Regime. With the standard deduction of Rs 75,000, this effectively raises the tax-free income threshold to Rs 12.75 lakh for salaried individuals. Revised Tax …

All income groups got a little something from the Budget
Trending News
1 month, 2 weeks ago

All income groups got a little something from the Budget

Live Mint  

The Union Budget 2025 aimed to put more money in the hands of every income group—whether salaried professionals, gig workers, rental income earners, or senior citizens—by tweaking tax slabs, deductions, and exemptions. The Bill proposes that persons opting for the new personal tax regime in financial year 2025-26, and having income upto ₹12 lakh, will not be required to pay …

Respecting service of taxpayers: Nirmala Sitharaman on Budget income tax breaks
Trending News
1 month, 2 weeks ago

Respecting service of taxpayers: Nirmala Sitharaman on Budget income tax breaks

India Today  

Finance Minister Nirmala Sitharman on Tuesday said that the tax relief given in Budget 2025 was Prime Minister Narendar Modi's effort to respect the service the taxpayers are doing for nation building. So this is a continuing part of Prime Minister Modi's effort to respect the service that taxpayers are doing in mission building," said Sitharman at the Budget Round …

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 2 weeks ago

Old tax regime: Time to let go after Budget 2025 changes?

India Today  

The Union Budget 2025 introduced major changes to the new income tax regime, making it more attractive for middle-class taxpayers. NEW TAX REGIME vs OLD TAX REGIME In the past, many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home loan interest, and investments in schemes like the Public Provident …

Using a tax prod to goad the great Indian middle class
1 month, 2 weeks ago

Using a tax prod to goad the great Indian middle class

New Indian Express  

February 1 was a firecracker moment for the great Indian middle class. In her record 8th budget as finance minister, Nirmala Sitharaman announced a whole set of new income tax slabs, and a set of new tax rates that has India salivating. The government is proposing to sacrifice as much as Rs 1,00,000 crore in direct tax revenues, which would …

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out
Trending News
1 month, 2 weeks ago

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out

India TV News  

Tax-free vs tax exemption: In a major relief to middle-class salaried people, Finance Minister Nirmala Sitharaman hiked the tax rebate available to individual taxpayers. In her Budget speech, the finance minister said that individuals earning up to Rs 12 lakh will pay zero tax. "One crore more people will pay no income tax due to hike in rebate to Rs …

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 2 weeks ago

New income tax slabs: Check how much you'll save with these simple calculations

India Today  

The Union Budget 2025 has introduced major changes to the new income tax regime, making it more attractive for salaried individuals. He also shared an example to show how the new tax regime changes will impact salaried taxpayers with incomes up to Rs 25 lakh: Kunal Savani, Partner, Cyril Amarchand Mangaldas, shared the new tax rates and slabs will benefit …

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman
1 month, 2 weeks ago

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman

Hindustan Times  

The Prime Minister Narendra Modi-led government has sought to respect the taxpayer instead of following a rent-seeking approach, finance minister Nirmala Sitharaman said on Sunday, emphasising that the huge tax relief announced in Saturday’s Union Budget was an acknowledgement of the contribution of citizens who pay their fair share towards nation-building, or, as she repeatedly stressed, a manifestation of “respect”. …

FM Sitharaman says ministry bureaucrats needed to be convinced to cut income tax, not the PM
1 month, 2 weeks ago

FM Sitharaman says ministry bureaucrats needed to be convinced to cut income tax, not the PM

Op India  

The budget for 2025-26 has provided major relief for the middle class by reducing the income tax burden. Finance Minister Nirmala Sitharaman in her budget speech announced substantial changes to the tax structure and raised the minimum taxable income to ₹12 lakh. Amid this, Finance Minister Nirmala Sitharaman revealed that PM Modi had readily agreed to cut income tax, but …

No income tax up to Rs 12 lakh: What it means if you earn more
1 month, 2 weeks ago

No income tax up to Rs 12 lakh: What it means if you earn more

Firstpost  

In a major relief for the middle class, Finance Minister Nirmala Sitharaman announced that individuals earning up to Rs 12 lakh will no longer have to pay income tax. FM Sitharaman increased the exemption threshold from Rs 7 lakh to Rs 12 lakh in the new income tax regime. Pixabay/Representational Image Union Finance Minister Nirmala Sitharaman has delivered a massive …

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh
Top News
1 month, 2 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 …

An imprint of Sangh suggestions in key announcements
1 month, 2 weeks ago

An imprint of Sangh suggestions in key announcements

Hindustan Times  

New Delhi The Union Budget accommodated and incorporated the inputs of various offshoots of the Rashtriya Swayamsevak Sangh on sectors as diverse as manufacturing, agriculture and gig workers, people aware of discussions said on Saturday, signalling synergy between the the Bharatiya Janata Party and its ideological fount. “This will benefit all the farmers in the country and will undoubtedly lead …

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode
1 month, 2 weeks ago

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode

India TV News  

The internet is buzzing with emotions after Finance Minister Nirmala Sitharaman announced a tax break for India's middle class on Saturday, claiming that those earning up to Rs 12 lakh will not be required to pay any income tax under the new regime. Nirmala Sitharaman, who delivered the Union Budget for 2025-26 in the Lok Sabha at 11 a.m., stated …

Tax axe budget prods people to spend more
1 month, 2 weeks ago

Tax axe budget prods people to spend more

New Indian Express  

NEW DELHI: a country is not just its soil, a country is its people—a famous line of Telugu poet and playwright Gurajada Appa Rao quoted by Finance Minister Nirmala Sitharaman in her speech—sums up the focus of Budget 2025-26. The middle class was the central focus of the Budget, which heralded a big income tax cut the demand for which …

Kejriwal asked for Rs 10 lakh relief, Nirmala gives Rs 2 lakh more
1 month, 2 weeks ago

Kejriwal asked for Rs 10 lakh relief, Nirmala gives Rs 2 lakh more

New Indian Express  

NEW DELHI: Ten days ago, while launching his party’s manifesto, AAP chief Arvind Kejriwal focused on the middle class and demanded that the Centre scrap income tax on earnings up to Rs 10 lakh. The Centre’s tax relief apparently signals the ‘middle class’ is back in contention as a significant factor as election campaigning reaches a crescendo, prompting parties to …

Fresh slabs may prompt over 90% taxpayers to choose new regime: Tax body chief
1 month, 2 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, …

Tailored to help poor, women, youth, farmers: CM Majhi
1 month, 2 weeks ago

Tailored to help poor, women, youth, farmers: CM Majhi

New Indian Express  

He said the record allocation of Rs 15.5 lakh crore for capital investment will create new job opportunities. Terming the budget as inclusive, the chief minister said there was something for every section of society, including farmers, labourers, middle class, employees, women, youth, and students in it. “This budget aims to fulfil the dream of a developed India, with a …

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister
1 month, 2 weeks ago

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister

India Today  

Union Finance Minister Nirmala Sitharaman on Sunday said Prime Minister Narendra Modi was clear about the need for tax relief in the Union Budget and supported the income tax rebate, adding that it took time to convince the bureaucrats. VIDEO | Full Interview: "PM Modi was very clear, it was tough to convince board and ministry," Finance Minister Nirmala Sitharaman …

Union Budget 2025: Tax bonanza for middle class
Trending News
1 month, 2 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, 2 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 …

No income tax for annual income upto Rs 12 lakh in New Tax Regime
1 month, 2 weeks ago

No income tax for annual income upto Rs 12 lakh in New Tax Regime

Deccan Chronicle  

Mumbai : At a time when the economy is slowing, the Union Budget 2025-26 on Saturday announced major tax reliefs for the middle class to bolster their spending power thereby invigorating domestic consumption. Finance Minister Nirmala Sitharaman while presenting the Budget announced that under the New Tax Regime, no income tax will be payable for salaried individuals with total income …

Budget 2025 | No tax for incomes up to ₹12 lakh
Top News
1 month, 2 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 …

Will income tax booster by Modi government safeguard stock market bulls against FII selloff?
1 month, 2 weeks ago

Will income tax booster by Modi government safeguard stock market bulls against FII selloff?

Live Mint  

The Union Budget provided a major relief to middle-class taxpayers as Finance Minister Nirmala Sitharaman raised the income tax exemption limit to ₹12 lakh. According to stock market analysts, this move could increase the disposable income in the hands of the middle class, which could flow into the stock markets, providing further cushion against the heavy foreign investor selling that …

New income tax slabs and more: The big Budget 2025 announcements, in graphics
Trending News
1 month, 2 weeks ago

New income tax slabs and more: The big Budget 2025 announcements, in graphics

Firstpost  

Finance Minister Nirmala Sitharaman tabled the Union Budget for the financial year 2025-2026 in Parliament on Saturday. From a change in income tax slabs to a boost to IIT infrastructure, here are the major announcements of the Budget Finance Minister Nirmala Sitharaman tabled the Union Budget for the financial year 2025-2026 in Parliament on Saturday. Here’s a quick look at …

‘Focus on wealth creation, win for middle class’: How experts see tax cut in Sitharaman’s Budget 2025
1 month, 2 weeks ago

‘Focus on wealth creation, win for middle class’: How experts see tax cut in Sitharaman’s Budget 2025

Firstpost  

After Union Finance Minister Nirmala Sitharaman proposed to make income up to Rs 12 lakh tax-free in the Budget 2025-26, among other measures, experts said it was a pro-growth budget that sought to focus on wealth creation for the middle class with eyes on triggering consumption-led growth A customer looks at consumable goods before buying them at a supermarket in …

The Hindu’s Top news of the day - February 1, 2025
Top News
1 month, 2 weeks ago

The Hindu’s Top news of the day - February 1, 2025

The Hindu  

No income tax payable for income up to ₹12 lakh under new tax regime: Finance Minister Nirmala Sitharaman In the most anticipated announcement this Union Budget 2025, Finance Minister Nirmala Sitharaman, on Saturday, announced that there would be no income tax for incomes up to ₹12 lakh. It is a people’s Budget.” Union Finance Minister Nirmala Sitharaman presented the Union …

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM
1 month, 2 weeks ago

One crore more people will pay no income tax due to hike in rebate to Rs 12 lakh: FM

Firstpost  

The government has put “substantial amount of money” in hands of people through rejig of I-T slabs in the Budget and an additional 1 crore people will pay no tax due to hike in tax rebate to Rs 12 lakh per annum, Finance Minister Nirmala Sitharaman said on Saturday The government has put “substantial amount of money” in hands of …

Union Budget 2025-26: Dimple Yadav questions lack of innovation and calls for justice
1 month, 2 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 …

Missed FM Nirmala Sitharaman’s Budget 2025 speech? These are the 10 things you need to know
1 month, 2 weeks ago

Missed FM Nirmala Sitharaman’s Budget 2025 speech? These are the 10 things you need to know

Live Mint  

Budget 2025: From income tax rebates to relief for cancer patients, Finance Minister Nirmala Sitharaman announced key reforms during her budget speech in Parliament today. No income tax up to ₹ 12 lakh One of the biggest announcements by Finance Minister Nirmala Sitharaman was about zero tax levied on annual income up to ₹12 lakh. TDS and TCS revised FM …

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered
1 month, 2 weeks ago

Your Budget 2025 Guide: Income tax slabs, rates, and key benefits. All your queries answered

Live Mint  

Your Budget 2025 Guide: Under the new income tax slabs announced by Finance Minister Nirmala Sitaraman, income up to ₹12 lakh will be tax-free. Up to ₹4 lakh - 0 per cent ₹4-8 lakh - 5 per cent ₹8 12 lakh - 10 per cent ₹12-16 lakh - 15 per cent ₹16-20 lakh - 20 per cent ₹20-24 lakh - …

Mint Quick Edit | Sitharaman’s income tax bonanza: Time to rejoice
1 month, 2 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, 2 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 …

In economy's shifting sands, a budget to boost demand
1 month, 2 weeks ago

In economy's shifting sands, a budget to boost demand

Live Mint  

The Union budget presented by finance minister Nirmala Sitharaman on Saturday can be framed against two major shifts in the Indian economy. The latest budget numbers show that income tax is expected to account for ₹22 out of every ₹100 of receipts that will flow into the government treasury. The second major shift: In February 2021, the finance minister had …

Budget 2025: Arvind Kejriwal ’disappointed’ as Modi govt ’ignores’ his billionaire loan waiver proposal
1 month, 2 weeks ago

Budget 2025: Arvind Kejriwal ’disappointed’ as Modi govt ’ignores’ his billionaire loan waiver proposal

Live Mint  

Budget 2025: Arvind Kejriwal voiced disappointment on Saturday after the Union Budget failed to include any proposal to ‘end billionaire loan waivers’. Budget 2025: Nirmala Sitharaman presents eighth budget Finance Minister Nirmala Sitharaman presented her eighth straight budget before the Lok Sabha on Saturday, laying out a blueprint for “next-generation” reforms. Arvind Kejriwal's fellow party leader Sanjay Singh also voiced …

All personal finance updates from Budget 2025
1 month, 2 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, 2 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 …

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