Budget 2025 expectations: ‘Custom duty must be levied on broader categories of goods to reduce tax rates’
5 days, 1 hour ago

Budget 2025 expectations: ‘Custom duty must be levied on broader categories of goods to reduce tax rates’

Live Mint  

Price Waterhouse & Co LLP said on Thursday that as Union Budget 2025 approaches, the government should consider levying customs duties on broader categories of industry to reduce tax rates, news agency PTI reported. Price Waterhouse & Co LLP said that the current low 15 per cent tax on new companies should be extended to existing companies, helping them expand their manufacturing capabilities. Sandeep Puri, Price Waterhouse & Co LLP Partner, said that the 15 per cent tax on new manufacturing companies, introduced in 2019, must be extended. “There is a demand that the new regime should be extended to allow existing companies setting up new manufacturing units to take advantage of the effective tax of 17.5 per cent,” Puri told PTI.

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History of this topic

Union Budget 2025: High hopes as dark clouds loom over economy
3 days, 22 hours ago

Union Budget 2025: High hopes as dark clouds loom over economy

India Today  

Finance Minister Nirmala Sitharaman is set to present the Union Budget on February 1. We also expect the home loan interest exemption to be increased to Rs 8 lakh annually to support first-time buyers, while Section 80C should either exclusively cover housing loan principal deductions or have its limit raised to Rs 5 lakh.” REAL ESTATE AWAITS RELIEF The real …

Budget 2025: Higher exemption limit and lower tax rates? Check top expectations
Trending News
6 days, 7 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 …

Income Tax Budget 2025 Expectations: Taxpayers await relief as FM Sitharaman prepares for February 1 announcement
Top News
1 week ago

Income Tax Budget 2025 Expectations: Taxpayers await relief as FM Sitharaman prepares for February 1 announcement

Live Mint  

Income Tax Budget 2025 Expectations: As the Union Budget 2025, scheduled for February 1, approaches, expectations among salaried individuals for potential income tax relief are mounting. In Budget 2020, Finance Minister Nirmala Sitharaman unveiled the New Tax Regime, which aimed to streamline the taxing process by lowering tax rates and eliminating most exemptions and deductions. 1) Raise tax slabs Ashish …

Budget 2025: How new tax regime evolved over the years and what's next?
Top News
1 week ago

Budget 2025: How new tax regime evolved over the years and what's next?

India Today  

As the Union Budget 2025 approaches, there is increasing anticipation regarding potential incentives aimed at encouraging taxpayers to opt for the new tax regime. EVOLUTION OF THE NEW TAX REGIME: A TIMELINE The new tax regime, introduced by Finance Minister Nirmala Sitharaman in Budget 2020, was designed to simplify the taxation process by reducing tax rates and eliminating most exemptions …

Budget 2025: When was the last major income tax relief given?
Trending News
2 weeks, 1 day ago

Budget 2025: When was the last major income tax relief given?

India Today  

The Union Budget 2025 is scheduled to be presented on February 1, 2025 as expectations are high among salaried individuals for income tax relief. Economists have also called on the government to cut income tax rates and implement reforms to boost savings and economic growth in the Union Budget 2025, as per media reports. PREVIOUS MAJOR INCOME TAX RELIEF Ajinkya …

Sops for Small Business Houses, Farmers, Tax Relief for Middle-Class Likely in Union Budget
2 weeks, 5 days ago

Sops for Small Business Houses, Farmers, Tax Relief for Middle-Class Likely in Union Budget

Deccan Chronicle  

New Delhi: The government is likely to announce some sops for small business houses and farmers in the upcoming budget as Union finance minister Nirmala Sitharaman on Thursday hinted in a pre-budgetary meeting with the stakeholders and experts from export, trade and industry sectors in the national capital here. The sources, however, said that keeping slow growth in micro, small …

2024 Union Budget 2024: Mobile phones, chargers set to be cheaper as customs duty slashed
5 months, 3 weeks ago

2024 Union Budget 2024: Mobile phones, chargers set to be cheaper as customs duty slashed

The Hindu  

The Centre on July 23 slashed basic customs duty on mobile phones, chargers and some components as part of the 2024 Union Budget. Union Finance Minister Nirmala Sitharaman said that duties on “oxygen free copper for manufacture of resistors”, hitherto set at 5%, would be eliminated. Exports, not domestic.” Finance Minister Nirmala Sitharaman today presented the Union Budget 2024 in …

Union Budget 2024 Highlights: Record High Capex In Budget Will Drive The Economy, Says PM Modi
5 months, 3 weeks ago

Union Budget 2024 Highlights: Record High Capex In Budget Will Drive The Economy, Says PM Modi

ABP News  

Union Budget 2024 Highlights: Hello and welcome to ABP Live's Budget 2024 LIVE blog. Budget 2024 Live GDP Growth Rate: On Monday, the FM presented the Economic Survey ahead of the final Budget and set the focus points for the nation ahead. Union Budget 2024 Trade And Hirings: The survey projected a positive outlook for global trade in 2024 as …

Union Budget 2024: Middle class might not get expected tax relief
5 months, 4 weeks ago

Union Budget 2024: Middle class might not get expected tax relief

India Today  

The government led by Prime Minister Narendra Modi is expected to tilt towards populism given the weaker mandate and the huge dividend of Rs 2.1 trillion for FY24 given by the Reserve Bank of India. As the government prepares to present the budget for the financial year 2024-25 on July 23, the middle class may not see the anticipated tax …

Union Budget 2024 Expectations LIVE: Will FM Sitharaman Announce Income Tax Relief?
5 months, 4 weeks ago

Union Budget 2024 Expectations LIVE: Will FM Sitharaman Announce Income Tax Relief?

News 18  

Budget 2024 Expectations on Manufacturing Samit Jain, managing director, PLUSS Advanced Technologies, said, “Great focus has been given by the ministry and government over the last years on expanding the adoption of clean technologies and also supporting the growth of startups as well as MSMEs. Budget 2024 Likely To Push Districts As Economic Hubs Budget 2024 Expectations LIVE: “The strategy …

Budget 2022: Custom Duty Reduced on Petroleum Oil, Jet Fuel; Key Indirect Tax Changes Here
2 years, 11 months ago

Budget 2022: Custom Duty Reduced on Petroleum Oil, Jet Fuel; Key Indirect Tax Changes Here

News 18  

UNION BUDGET 2022: The indirect tax provision introduced in the Union Budget have been with an endeavour to promote domestic manufacturing, sustainability, and incentives to states becoming active stakeholders in the national economy. Some key duty changes are the reduction of Customs duties on Petroleum Oil, ATF, wool products, woven fabrics, yarn, cotton, electric motors, iron and steel scrap, lens …

Union Budget 2022 highlights | Sharp hike in capital expenditure; no changes in Income Tax
2 years, 11 months ago

Union Budget 2022 highlights | Sharp hike in capital expenditure; no changes in Income Tax

The Hindu  

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022 on February 1. She said that the Budget proposals for this financial year rest on health and well-being, infrastructure, inclusive development, energy transition and climate action, financing of investments and 'Minimum Government, Maximum Governance'. Here are the highlights of the Budget in a glance: Infrastructure PM Gati Shakti National Master …

Union Budget 2022 highlights: No Income Tax change, digital rupee, 5G, hike in Capex
2 years, 11 months ago

Union Budget 2022 highlights: No Income Tax change, digital rupee, 5G, hike in Capex

Deccan Chronicle  

Union Cabinet approves Budget 2022-23 The Union Cabinet on Tuesday approved the Budget 2022-23 which will be presented by Finance Minister Nirmala Sitharaman in Parliament. Economic recovery benefitting from public investment and capital spending, says FM This Budget continues to provide impetus to growth: FM 2022-23 has been announced as International Year of Millets: FM 100 PM Gati Shakti terminals …

Budget 2022: 8 key tax-related expectations
2 years, 11 months ago

Budget 2022: 8 key tax-related expectations

India Today  

Finance Minister Nirmala Sitharaman is set to present her fourth Union Budget on Tuesday at a time when India’s economic recovery faces fresh challenges. Here are top expectations of taxpayers and corporates: DIRECT TAXES In the Union Budget 2022, 80C deduction available up to Rs 1.5 lakh a year should be revised upwards significantly. INDIRECT TAXES Rationalisation of Customs duty …

Union Budget 2022: All you need to know
2 years, 11 months ago

Union Budget 2022: All you need to know

Live Mint  

As Union Finance Minister Nirmala Sitharaman is scheduled to present her fourth Union Budget for the next financial year tomorrow, all eyes would be on how the Centre balances out populist measures while walking the tightrope of fiscal consolidation. After getting the nod from the cabinet, Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 in a paperless form …

Budget 2022: 6 challenges govt needs to address this year
2 years, 11 months ago

Budget 2022: 6 challenges govt needs to address this year

India Today  

The government is all set to present the Union Budget 2022 at a time when the country's economy is striving to recover after being hit hard by the Covid-19 pandemic. In Budget 2022, the Government should first focus on increasing investment in infrastructure, followed by enhancing job creation through higher incentivized expansion of manufacturing capabilities, an ASSOCHAM survey has noted. …

Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers
2 years, 11 months ago

Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers

India Today  

The Covid-19 pandemic has not only hit jobs but also left a large number of households grappling with rising living costs. NEW TAX REGIME ADJUSTMENTS The previous budget did not provide any major relief to the salaried class and experts said the government must consider revising the personal income tax slab in the Union Budget 2022-23. Many experts believe that …

Budget 2022: Date, Time, Key Things to Watch Out For
2 years, 11 months ago

Budget 2022: Date, Time, Key Things to Watch Out For

News 18  

Union Budget 2022: Since decades, the central government holds a budget session in the Parliament where a host of decisions regarding the country’s economic growth, and its economy in general, is taken. Here is Everything You Need to Know About Union Budget 2022 Budget 2022 Date and Time The Union Budget will be presented on February 1, Tuesday by the …

Union Budget 2021: Five Income Tax Changes You Should Know
3 years, 11 months ago

Union Budget 2021: Five Income Tax Changes You Should Know

News 18  

The Union Budget 2021 presented by Finance Minister Nirmala Sitharaman on Monday did not announce change in income tax slabs for individuals, leaving them disappointed. In a move to justify tax exemption for high income employees, the 2021 Budget proposed to restrict tax exemption for the interest income earned on the class’ contribution made to various provident funds up to …

A ‘never before’ budget for ‘never before’ times
3 years, 11 months ago

A ‘never before’ budget for ‘never before’ times

Live Mint  

Union budget 2021-22 will be a memorable one, being the first budget of the decade, the first digital budget and one coming after an economic contraction. The proposal to exempt those more than 75 years old, with only pension and interest income, from filing income tax returns would ease their lives. Pre-filling of capital gains, dividend and interest details in …

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