Budget 2019: Raising income tax exemption limit to Rs 5 lakh will give relief to many; ensure more savings and investments
5 years, 11 months ago

Budget 2019: Raising income tax exemption limit to Rs 5 lakh will give relief to many; ensure more savings and investments

Firstpost  

One very important move in Budget 2019 is that income tax returns will now be processed within 24 hours and refunds will be initiated immediately. Individuals with taxable income less than Rs 5 lakh won’t have to pay any tax. Raising of tax exemption limit to Rs 5 lakh was a demand even before this government came to power. This move to give relief to individuals with taxable income less than Rs 5 lakh is as far from being populist as anything can be because more disposable income in the hands of people will ensure more savings and investments.

Tax Budget Income Lakh Rs 5 Lakh Taxable Income  returns  limit  raising  crore  income  relief  exemption  budget  investments  tax  yojana  modi  rs  savings  interest  lakh

History of this topic

Budget 2025: Higher exemption limit and lower tax rates? Check top expectations
Trending News
6 days, 11 hours ago

Budget 2025: Higher exemption limit and lower tax rates? Check top expectations

India Today  

The Union Budget 2025-26, scheduled for presentation on February 1, is already generating buzz with expectations of key reforms in the income tax structure. HIGHER TAX EXEMPTION LIMIT Subhash Chand Aggarwal, CMD of SMC Global Securities, predicts further relief for individuals earning up to Rs 15 lakh annually. “Continuing the trend from the 2024 Budget, reduced tax rates for these …

Budget 2025: Can you expect Rs 10 lakh tax-free income?
1 week ago

Budget 2025: Can you expect Rs 10 lakh tax-free income?

India Today  

As the Union Budget 2025 approaches, expectations are mounting for significant tax reforms and economic relief measures. Finance Minister Nirmala Sitharaman is set to present the budget on February 1, 2025, with the middle class hoping for an increase in the tax-free income threshold, amongst other proposals. Other key demands include extending the MGNREGA program to provide 200 workdays per …

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here
1 week ago

Budget 2025: Salaried earners up to Rs 15 lakh may get tax relief. Details here

India Today  

The upcoming Budget 2025-26 is likely to introduce significant tax benefits aimed at individuals earning up to Rs 15 lakh annually. BOOSTING SPENDING POWER AMID INFLATION The government’s focus appears to be on easing the burden on individuals earning Rs 13–14 lakh annually, especially in urban areas, where inflation has eroded purchasing power, according to sources. Experts believe that revising …

Government may consider tax relief for income of up to Rs 10.50 lakh: Report
2 weeks, 6 days ago

Government may consider tax relief for income of up to Rs 10.50 lakh: Report

India Today  

The government is reportedly considering a tax cut for individuals earning up to Rs 10.5 lakh annually, potentially providing significant relief to middle-class taxpayers. As of now, taxpayers can choose between two systems: the traditional structure, which provides exemptions for expenses like housing rentals and insurance, or the newer regime, which offers lower tax rates but eliminates most exemptions. One …

Income tax relief in Budget 2025? Economists push for cuts to help save more
3 weeks ago

Income tax relief in Budget 2025? Economists push for cuts to help save more

India Today  

Economists have urged the government to reduce income tax rates and introduce reforms to support savings and economic growth in the upcoming Union Budget 2025, reported The Economic Times. Lower tax rates for lower-income groups, they noted, would directly impact household budgets, improve financial stability, and potentially lift overall consumption levels. ECONOMIC URGE TAX RELIEF WITH PM MODI During the …

Budget 2024: How the changes in new tax regime will benefit the salaried, explained
5 months, 3 weeks ago

Budget 2024: How the changes in new tax regime will benefit the salaried, explained

Hindustan Times  

Salaried income taxpayers shifting to the new tax regime stand to save up to ₹17,500 in income tax, finance minister Nirmala Sitharaman announced in presenting the Union budget 2024. The finance minister announced increased standard deduction for those opting to file their tax returns under the new regime and also widened the tax slabs to give relief. Increase in the …

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked
5 months, 3 weeks ago

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

The Hindu  

Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding tax rates other than increasing the standard deductions. The two measures combined, she stated, would provide relief to “about four crore salaried individuals and pensioners.” More under new regime According to Deepashree Shetty, Partner …

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged
5 months, 3 weeks ago

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged

The Hindu  

Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. Whilst the rate of taxation remains unchanged, the size of each of the slabs, excluding the initial zero to ₹3 lakh, remains unchanged. Budget 2024-25: Taxes Earlier, the Finance Minister further placed increasing the standard deduction for salaried employees from …

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How
5 months, 3 weeks ago

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How

News 18  

Budget 2024: Salaried employees under new tax regime to save up to Rs 17,500 annually in taxes due to changes proposed in Budget FY25, announced Finance Minister Nirmala Sitharaman on Tuesday. The new tax slabs under the new income tax regime will be effective from April 1, 2024.. FM proposed the following changes in the new tax regime; – Standard …

Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k
5 months, 3 weeks ago

Budget 2024 Boost To New Tax Regime: Standard Deduction Raised To Rs 75k From Rs 50k

News 18  

Finance Minister Nirmala Sitharaman on Tuesday announced to increase standard deduction limit to Rs 75,000 under the new tax regime, compared with Rs 50,000 earlier. Presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman also said the government will come out with SoP for TDS defaults and simplify and rationalise compounding of such offences. More than two-thirds of individuals …

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know
5 months, 3 weeks ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News  

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here
5 months, 3 weeks ago

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here

India Today  

Finance Minister Nirmala Sitharaman revamped income tax slabs under the new regime in Union Budget 2024 in a bid to make it more attractive. The Finance Minister said that the tweaked tax slabs would save salaried individuals Rs 17,500 annually under the new regime. The updated tax slabs are as follows: income up to Rs 3 lakh will be taxed …

Budget 2024 announcements on new tax regime: Standard deduction increased, check new tax slabs
5 months, 3 weeks ago

Budget 2024 announcements on new tax regime: Standard deduction increased, check new tax slabs

India TV News  

Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. Informing that fiscal deficit estimated at 4.9% of GDP, Sitharaman said that the people have reposed their faith in the government led by PM Modi and re-elected it for the historic third term. Sitharaman said, "I announce a comprehensive review of the Income Tax Act …

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?
5 months, 4 weeks ago

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?

Hindustan Times  

The Union Budget 2024 could provide Income Tax relief for low earners looms large amid rising prices in the country. Experts believe that a reduction in Income Tax could address economic challenges in the country as Finance Minister Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2024-25 on July 23. This change would boost consumption, …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
5 months, 4 weeks ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

Budget 2024: What income tax benefits can taxpayers expect on July 23?
5 months, 4 weeks ago

Budget 2024: What income tax benefits can taxpayers expect on July 23?

India Today  

Taxpayers are eagerly waiting for July 23 when Finance Minister Nirmala Sitharaman will present the full budget for the ongoing financial year. Income tax exemption limit There is speculation that the government may raise the income tax exemption limit from Rs 3 lakh to Rs 5 lakh. If implemented, individuals earning up to Rs 8.5 lakh annually could potentially pay …

Budget 2024: Low-income individuals likely to get big tax relief, says report
6 months, 3 weeks ago

Budget 2024: Low-income individuals likely to get big tax relief, says report

India Today  

The government is considering significant tax cuts for lower-income individuals in the upcoming Budget 2024, marking the first such relief in seven years, reported Bloomberg. Lower tax rates, new tax slabs Salaried taxpayers earning between Rs 5 lakh and Rs 15 lakh annually, currently taxed at rates ranging from 5% to 20% under the new income tax regime, could benefit …

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report
6 months, 4 weeks ago

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report

India Today  

The government plans to raise the income exempt from tax under the new regime from the current Rs 3 lakh to Rs 5 lakh in the forthcoming full budget, reported moneycontrol.com. Officials also said that the government is unlikely to accept a proposal from industry representatives to lower the top individual income tax rate from 30% to 25% in the …

Budget 2024: Which income categories can expect tax relief?
6 months, 4 weeks ago

Budget 2024: Which income categories can expect tax relief?

India Today  

The government is considering a reduction in tax rates for specific categories of salaried individuals, aimed at boosting consumption, reported news agency Reuters. The reduction in tax rates could be part of the upcoming budget announcement in July by Finance Minister Nirmala Sitharaman, the report said, citing two government officials. Potential tax relief The anticipated tax relief could benefit individuals …

Major Income Tax Reforms Effective From April 1: What You Need To Know
9 months, 3 weeks ago

Major Income Tax Reforms Effective From April 1: What You Need To Know

ABP News  

In the wake of the new fiscal year, April 1, 2024, sweeping changes in the tax landscape herald major implications for personal finances. Streamlined Slabs & Expanded Basic Exemption Limit Under the new tax regime, the minimum tax threshold has been raised from Rs 2.5 lakh to Rs 3 lakh. Increased Tax Rebate Threshold Individuals opting for the new tax …

Budget 2024: 6 key changes taxpayers want from FM Sitharaman
11 months, 2 weeks ago

Budget 2024: 6 key changes taxpayers want from FM Sitharaman

India Today  

Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024-25 on February 1, covering the initial three months of the next fiscal year. While hopes for a new 25 per cent high-income tax slab are slim, expectations include increased basic exemption, standard deduction, and higher limits for 80C & 80D," Ravi said. NPS deduction under new tax regime …

Interim Budget 2024: Will new income tax regime get another makeover?
11 months, 2 weeks ago

Interim Budget 2024: Will new income tax regime get another makeover?

India Today  

As Finance Minister Nirmala Sitharaman gears up to announce the Interim Budget 2024-25, the new income tax regime is in focus again. Deduction for interest on housing loans Salaried individuals with housing loans are cautious about shifting to the new tax regime due to the potential loss of home loan interest deductions. Abhishek Soni suggests that extending the deduction for …

Interim budget 2024: Can taxpayers expect relief? 5 anticipated changes
11 months, 4 weeks ago

Interim budget 2024: Can taxpayers expect relief? 5 anticipated changes

India Today  

The Interim Budget 2024 looms just days away, and a wave of expectations is sweeping across various sections of taxpayers, particularly the middle-class, with hopes of significant tax reliefs. Now, after nearly five years, there is a growing call for parity between businessmen and professionals, urging an official expense standard deduction of at least Rs 1,00,000 in 2024. To bring …

Interim Budget 2024: Will standard deduction of Rs 50,000 get a hike?
1 year ago

Interim Budget 2024: Will standard deduction of Rs 50,000 get a hike?

India Today  

The Interim Budget 2024 is just around the corner and the middle-class taxpayers are holding their breath, hopeful for some relief in the form of income tax concessions. A report from Anand Rathi talks about how a higher standard deduction is needed for salaried taxpayers to ease taxes for middle and lower-income groups without many investment options. Standard Deduction over …

Income Tax saving: 5 things taxpayers can do before March 31
1 year, 10 months ago

Income Tax saving: 5 things taxpayers can do before March 31

India Today  

Taxpayers have already started planning investments for the next financial year as the current one ends on March 31, 2023. Firstly, taxpayers can claim a deduction of up to Rs 1,50,000 by investing in ELSS, PPF, NPS, EPF, tax-saving fixed deposits, and other instruments under section 80C. Taxpayers can claim an additional deduction of Rs 50,000 in addition to the …

Budget 2023: How Nirmala Sitharaman attempted to simplify tax experience
1 year, 11 months ago

Budget 2023: How Nirmala Sitharaman attempted to simplify tax experience

Live Mint  

The Hon’ble Finance Minister presented today the last full-fledged Budget 2023 under the Modi 2.0 Government. Further, with the proposals, it is apparent that the Government wants to simplify the tax experience to its taxpayers by proposing a common tax return form, bringing reforms to litigation and also giving prominence to the new tax regime which does not require the …

Budget 2023: Big hike in tax exemption on encashed leaves for non-govt staff
1 year, 11 months ago

Budget 2023: Big hike in tax exemption on encashed leaves for non-govt staff

Hindustan Times  

The centre on Wednesday proposed a massive hike in tax exemption on leave encashment of non-government salaried employees - to ₹25 lakh from ₹3 lakh. limit of ₹3 lakh for tax exemption on leave encashment on government salaried employees. Other tax highlights in Budget 2023 The finance minister also outlined changes to income tax slabs - for those filing under …

Budget 2023 | Those earning up to ₹7 lakh a year need not pay income tax
1 year, 11 months ago

Budget 2023 | Those earning up to ₹7 lakh a year need not pay income tax

The Hindu  

Finance Minister Nirmala Sitharaman on Wednesday announced that those earning up to ₹7 lakh a year need not pay any income tax under the new tax regime, giving a push for the regime which disallows all exemptions on investments. Those earning up to ₹7 lakh annually and opting for new tax regime, could save ₹33,800. “It is proposed to increase …

Budget 2023: How are old and new income tax slabs different from each other
1 year, 11 months ago

Budget 2023: How are old and new income tax slabs different from each other

Hindustan Times  

The income tax slabs were last changed in 2014, when the personal tax exemption limit was revised, too. From the upcoming budget 2023, taxpayers are expecting the current tax slab with basic exemption limit of ₹2.5 lakh income to be increased to ₹5 lakh, in lieu of rising inflation and cost of living. New tax slabs 1) Annual income of …

Budget 2023: Govt increases income tax rebate to Rs 7 lakh per annum | 5 major announcements
1 year, 11 months ago

Budget 2023: Govt increases income tax rebate to Rs 7 lakh per annum | 5 major announcements

India TV News  

Budget 2023: In a big relief for the common man, the Modi government on Wednesday increased the personal income tax rebate to Rs 7 lakh per annum. The income tax rebate is one of the 5 major announcements made by Finance Minister Nirmala Sitharaman in the first budget of 'Amrit Kaal'. Sitharaman tweaked the slabs to provide some relief to …

Union Budget 2022-23: Why salaried class may not get big income tax relief
2 years, 11 months ago

Union Budget 2022-23: Why salaried class may not get big income tax relief

India Today  

Stagnant income and risk of inflation due to the Covid-19 pandemic severely crippled the salaried class in the country over the past two years. Many people have sought income tax relief from the government in the upcoming Union Budget 2022-23. TAXPAYERS' WISHLIST A survey conducted by world's leading accounting firm KPMG indicated that most respondents expect an enhancement in the …

Budget 2022: Will Govt Increase Standard Deduction to Rs 1 Lakh to Help the Salaried?
3 years ago

Budget 2022: Will Govt Increase Standard Deduction to Rs 1 Lakh to Help the Salaried?

News 18  

Budget Predictions: The Budget session this year is set to kick in and the salaried class in India stares at the date in anticipation of a number of changes that are going to affect their personal lives. The government, according to reports, is mulling a hike in the standard deduction limit, which is available to salaried employees and pensioners by …

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022
3 years, 11 months ago

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022

News 18  

New Delhi: The government on Monday extended the additional tax deduction of Rs 1.5 lakh on interest paid on housing loan for purchase of affordable homes by one more year to March 31, 2022, a move aimed at boosting demand in the sluggish real estate sector. "In the July 2019 Budget, I provided an additional deduction of interest, amounting to …

Union Budget 2021: Reintroduce single tax slab structure, raise minimum taxable income to Rs 7.5 lakh
3 years, 11 months ago

Union Budget 2021: Reintroduce single tax slab structure, raise minimum taxable income to Rs 7.5 lakh

Firstpost  

The pandemic and the subsequent Work From Home policy has led to some employers offering allowances and reimbursement to employees. Harsh Bhuta, Partner, Bhuta Shah and Co LLP The finance minister should consider the reintroduction of single tax slab structure and increase the minimum taxable income threshold from Rs 5 lakhs to 7.5 lakhs. Australia has come out with following …

Budget 2021: Know All About the Existing Income Tax Slabs
3 years, 11 months ago

Budget 2021: Know All About the Existing Income Tax Slabs

News 18  

Union Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2021 at the parliament on February 1. Sitharaman introduced new income tax slabs and tax rate for different sections of individual income up to Rs 15 lakh per annum, provided the taxpayer chooses to give up exemptions and deductions, in the budget of 2020. Next comes individuals …

Income Tax Deductions, Work From Home Benefits: 5 Things Middle Class Expects from Budget 2021
3 years, 11 months ago

Income Tax Deductions, Work From Home Benefits: 5 Things Middle Class Expects from Budget 2021

News 18  

The challenges before Finance Minister Nirmala Sitharaman as she prepares to present the Union Budget for 2021-22 are all too well known. At this unprecedented economic juncture, here is what the middle-class taxpayer expects from the Finance Minister: – The government could look at providing deductions for expenses incurred by salaried employees while working from home in the upcoming Budget …

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending
3 years, 11 months ago

Union Budget 2021: Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability to Encourage Spending

News 18  

In order to put more money in the hands of the tax payer, the Finance Ministry is likely to provide tax relief of up to Rs 80,000 per annum in total tax liability. Sources informed CNBC-TV18 that on the basis of discussion during budget exercise there is strong possibility income tax payers may get relief between Rs 50,000 to Rs …

Mega Covid 19 relief package: Income tax returns for 2019-20 can now be filed until November
4 years, 8 months ago

Mega Covid 19 relief package: Income tax returns for 2019-20 can now be filed until November

Hindustan Times  

The central government on Wednesday announced a 25% tax rebate for non-salaried specified payments and a similar rebate in tax collection at source for specified receipts in a measure that will help release Rs 50,000 crore liquidity, it claimed. Among other measures, the finance minister announced to defer the due date of filing of all income tax returns for the …

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman
4 years, 11 months ago

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman on Saturday presented the second Union Budget of the Modi 2.0 government. Tax concession for foreign investments " In order to incentivise the investment by the Sovereign Wealth Fund of foreign governments in the priority sectors, I propose to grant 100% tax exemption to their interest, dividend and capital gains income in respect of investment made …

Budget 2020: Personal Income Tax Rates Slashed
4 years, 11 months ago

Budget 2020: Personal Income Tax Rates Slashed

Live Law  

Finance Minister Nirmala Sitharaman has slashed the personal income tax rates but provided to forgo exemptions, as she announced the Union Budget for the Financial Year 2020-2021 today, in the Lok Sabha. It is noteworthy however that the new tax regime is optional for the taxpayers and an individual who is currently availing more deductions & exemption under the IT …

Budget 2020: Income tax slabs lowered for those who forgo exemptions
4 years, 11 months ago

Budget 2020: Income tax slabs lowered for those who forgo exemptions

The Hindu  

In a proposal to simplify the personal income tax regime, Finance Minister Nirmala Sitharaman, in the Union Budget 2020 speech, said the income tax rates would be “significantly reduced” for those who forgo reliefs and exemptions and the new rates would be optional. Accordingly, a person earning Rs 15 lakh per anum and not availing any deductions will pay ₹1.95 …

Various tax exemptions for salaried class has outlived utility; time for Nirmala Sitharaman to enhance them
4 years, 11 months ago

Various tax exemptions for salaried class has outlived utility; time for Nirmala Sitharaman to enhance them

Firstpost  

Union Budget 2020-21 is the first full year Budget to be presented post-election by the Finance Minister on 1 February 2020. Some of the key expectations on the personal tax front the government may consider are as under: Income up to Rs 2.5 lakh p.a. Further, moderation of the enhanced surcharge would perhaps also help India remain a competitive tax …

69 pc want tax free income to be hiked to Rs 5 lakh in the Union Budget
4 years, 11 months ago

69 pc want tax free income to be hiked to Rs 5 lakh in the Union Budget

India TV News  

In the run-up to the Union Budget on February 1, a survey by LocalCircles has found that 69 per cent of respondents want tax-free income to be increased to Rs 5 lakh. Sixty-nine per cent said this should be increased to Rs 5 lakh while 18 per cent said it should be increased to Rs 3 lakh. Seven per cent …

Govt proposes BIG relief on income tax slabs in Budget 2020: Reports
4 years, 11 months ago

Govt proposes BIG relief on income tax slabs in Budget 2020: Reports

India TV News  

The Prime Minister Narendra Modi-led government is all set to bring big relief for income tax payers in the upcoming Union Budget 2020. The new structure would be similar to tax rates proposed by Finance Minister Nirmala Sitharaman late last year where the government had given relief to taxpayers whose annual income was less than Rs 5 lakh. At present …

Budget 2020: Modi govt's toughest economic test and a tricky equation
4 years, 11 months ago

Budget 2020: Modi govt's toughest economic test and a tricky equation

India Today  

With estimated GDP in 2019-20 at an 11-year-low of 5 per cent, India is nowhere close to attaining the growth rate required to become a five trillion USD economy by the end of 2024. For example, the last prominent income tax benefit announced by the government was a full tax rebate on income up to Rs 5 lakh per annum …

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans
5 years, 6 months ago

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans

Firstpost  

In Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans In the Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans. Finance Minister Nirmala Sitharaman said the interest paid on housing loans …

5 key changes in income tax provisions announced in Budget 2019
5 years, 6 months ago

5 key changes in income tax provisions announced in Budget 2019

Live Mint  

The government today proposed many changes in income tax provisions for this year. Finance minister Nirmala Sitharaman in her maiden budget kept the income tax slab rates unchanged but announced a slew of new income tax proposals that could impact many tax payers. — Additional income tax deduction of ₹1.5 lakh on home loans for affordable houses costing below ₹45 …

Budget 2019: Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles
5 years, 6 months ago

Budget 2019: Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles

India Today  

In yet another bid to promote electric vehicle in the Union Budget 2019, Finance Minister Nirmala Sitharaman announced that there will be an income tax deduction of Rs 1.5 lakh on loans taken to buy e-vehicles. Nirmala Sitharaman, who made her maiden Budget speech in the Parliament on Friday, announced a tax deduction of Rs 1.5 lakh on loans taken …

Budget 2019: How two new tax categories will impact Super-Rich
5 years, 6 months ago

Budget 2019: How two new tax categories will impact Super-Rich

India Today  

"Should the government tax the rich more than they currently do to support the poor?" When the question asked to the respondent of 21 countries in the OECD study in last year, half of those said "yes", and new Finance Minister Nirmala Sitaraman also feel same as imposed 3 per cent cess on super-rich in her first budget. Super wealthy …

Budget 2019: All eyes on Nirmala Sitharaman as middle class expects raise in tax exemption limit
5 years, 6 months ago

Budget 2019: All eyes on Nirmala Sitharaman as middle class expects raise in tax exemption limit

India TV News  

The middle-class taxpayers may have a lot to cheer about in the Budget proposals to be presented by Finance Minister Nirmala Sitharaman on Friday. Sources said that the Budget 2019-20 will take the sops announced in the Interim Budget further by raising the basic tax exemption limit for an individual income tax payee to Rs 3 lakh from Rs 2.50 …

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