Heard voice of middle class, tax reform to drive consumption and savings: Nirmala Sitharaman on Budget
1 month, 3 weeks ago

Heard voice of middle class, tax reform to drive consumption and savings: Nirmala Sitharaman on Budget

New Indian Express  

"I wouldn't want to predict something, but certainly this tax proposal will make people have more money in their hands.So, I expect this would show both in terms of consumption spending and also in terms of savings, which can be through many different instruments," she said. Opining that reducing taxes is the first step towards the new tax bill, the finance minister said, "the new regime has certainly always shown that rates will have to be brought down steadily, and this time we have made it smoother; the tax slabs are also flowing smoothly from one to another, and the rates are also very predictably in multiples of five." On the narrow base of taxpayers in India, the finance minister said: "Those who have never been taxpayers or who have now reached that level of income, or even those who have avoided tax, will all have to be brought on. We will have to make sure that people are understanding the role of paying tax and bring them onboard."

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History of this topic

India needs 1.2-1.5 tax buoyancy to achieve 6.5-7% growth: EY
3 weeks, 3 days ago

India needs 1.2-1.5 tax buoyancy to achieve 6.5-7% growth: EY

The Hindu  

“India has to maintain a tax buoyancy in the range of 1.2-1.5 to achieve a growth of 6.5-7%,” an EY report said on Wednesday, February 26, 2025. “India’s fiscal strategy must focus on enhancing tax buoyancy, prudent expenditure management, and continued structural reforms to ensure sustainable growth,” EY said. “However, for India to achieve a medium-term growth trajectory of 6.5-7.0% …

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 …

The government is banking on tax cuts to boost consumption. What if it doesn’t pan out?
1 month, 1 week ago

The government is banking on tax cuts to boost consumption. What if it doesn’t pan out?

Live Mint  

New Delhi: When finance minister Nirmala Sitharaman announced tax cuts and sops for taxpayers in her latest budget, she said: “Slabs and rates are being changed across the board to benefit all tax-payers. Assuming that this share of top income earners in the GDP remains relatively stable for financial years 2023-24 and 2024-25, and using the GDP projections in the …

Boost in consumption is necessary, but 'Sabka Vikas' should not be lost
1 month, 1 week ago

Boost in consumption is necessary, but 'Sabka Vikas' should not be lost

Firstpost  

While India seeks to counter global headwinds and uncertainties that can mar its economic growth, it should ensure the boost in demands must not result in high inflation or the burden be placed on indirect taxes, as high income divide is an undeniable reality of the Indian economy If we can achieve GDP growth of 6.7 per cent for FY26 …

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill
1 month, 2 weeks 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, 2 weeks 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 …

India’s taxation crisis: Can 1% bear such a large country’s burden?
1 month, 2 weeks ago

India’s taxation crisis: Can 1% bear such a large country’s burden?

Live Mint  

With just about 1% of Indians expected to fund about a third of the government’s gross tax revenue next fiscal year, India has a taxation problem. Data from the Central Board of Direct Taxes indicates that the number of people filing tax returns has risen by 82% over the past nine years, reaching 104 million in assessment year 2023-24. His …

Finance secretary calls for investment, and innovation to drive economic growth
1 month, 2 weeks ago

Finance secretary calls for investment, and innovation to drive economic growth

Live Mint  

New Delhi: While the government having returned money to citizens through tax cuts in the budget, it is now for industry and businesses to take investment risks and create institutions and jobs, finance secretary Tuhin Kanta Pandey said on Thursday. Economic impetus Last week, finance minister Nirmala Sitharaman in her budget speech highlighted several measures to give an impetus to …

NDA govt has left more money in the hands of middle class by lowering income tax: PM Modi
1 month, 2 weeks ago

NDA govt has left more money in the hands of middle class by lowering income tax: PM Modi

Live Mint  

New Delhi: Prime minister Narendra Modi on Tuesday said the income tax rationalization undertaken by the Centre in the last 10 years has left more money in the hands of the middle class. "In the last years, by lowering income tax we have increased the income of the middle class. Presenting the budget, finance minister Nirmala Sitharaman had said that …

Fiscal consolidation to slow as budget relies on tax measures to support economy: Moodys
Trending News
1 month, 2 weeks ago

Fiscal consolidation to slow as budget relies on tax measures to support economy: Moodys

Deccan Chronicle  

Mumbai: Moody’s Ratings on Tuesday said that the income tax cuts announced in the Union Budget 2025 will boost middle-class spending and benefit corporates and the financial sector but warned that the lost revenue could slow fiscal consolidation despite a decline in spending as a share of GDP. Although the government has estimated consequent foregone revenue at around Rs 1 …

Karnataka: Tax cut for middle class a gimmick to divert India’s declining growth rate, says Rajeev Gowda
1 month, 2 weeks ago

Karnataka: Tax cut for middle class a gimmick to divert India’s declining growth rate, says Rajeev Gowda

The Hindu  

Former MP and chairman of All India Congress Committee’s research department, M.V. Rajeev Gowda, on Monday alleged that the announcement of tax cut for the middle class in the recent Union Budget was a gimmick to divert the country’s declining growth rate. Addressing presspersons here, Mr. Gowda said that despite raising the no-tax bracket to ₹12 lakh, the Budget failed …

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 …

Will the Finance Minister's headline-grabbing tax cuts revive the growth genie?
1 month, 2 weeks ago

Will the Finance Minister's headline-grabbing tax cuts revive the growth genie?

New Indian Express  

Will the personal income tax cuts bring home the consumption bacon? Preliminary estimates indicate that the Rs 1 lakh crore worth tax revenue foregone due to personal income tax cuts will likely add Rs 14.8 lakh crore worth national output, or add roughly Rs 10 lakh crore to private consumption in FY26. According to KV Subramanian, Executive Director, IMF India, …

‘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”. …

Beyond tax cuts, a closer read of the Union Budget
Trending News
1 month, 2 weeks ago

Beyond tax cuts, a closer read of the Union Budget

The Hindu  

The Union Finance Minister, Nirmala Sitharaman’s presentation of the Union Budget on Saturday, February 1, was against the backdrop of pressing macroeconomic challenges — persistently high taxes and unemployment squeezing the middle-income class, subdued private investment, mounting external vulnerabilities that threaten to derail the growth story, and a looming fiscal overhang. While the Finance Minister laid out an ambitious road …

Budget 2025 - A fine blend of tax reforms and growth
1 month, 2 weeks ago

Budget 2025 - A fine blend of tax reforms and growth

Live Mint  

Finance minister Nirmala Sitharaman has delivered a realistic and positive punch to keep the economy progressing, especially with a strong push to boost urban consumption, at a very crucial time of challenges globally and domestically. The fiscal deficit target was brought down by 40 basis points to 4.4% of gross domestic product when geopolitical headwinds, global uncertainties, depreciating rupee, slowdown …

This budget is remarkable for its fiscal restraint—apart from other aspects
Trending News
1 month, 2 weeks ago

This budget is remarkable for its fiscal restraint—apart from other aspects

Live Mint  

The Union budget for 2025-26 is being hailed as a “thanksgiving’’ for the middle-class, while its personal income tax relief is being called “historic’’ and has hogged most of the limelight. Importantly, in absolute terms, the fiscal deficit is likely to remain flat at ₹15.7 trillion in 2025-26, as compared to 2024-25, and lower than its level of ₹16.5 trillion …

After Budget fires up hopes for a consumption boost, eyes on RBI for a double thrust
1 month, 3 weeks ago

After Budget fires up hopes for a consumption boost, eyes on RBI for a double thrust

Live Mint  

New Delhi: Following finance minister Nirmala Sitharaman’s proposed income tax relief for salaried individuals, India’s consumer industry executives are looking forward to a rate cut that could provide a further boost to fire up India’s sluggish urban consumption. “This budget would kickstart a virtuous cycle of consumption-led growth," said Sanjiv Puri, president, Confederation of Indian Industry, and chairman and managing …

Big tax-cut stimulus, prudent reforms can spur new-age growth
1 month, 3 weeks ago

Big tax-cut stimulus, prudent reforms can spur new-age growth

New Indian Express  

A day before the Budget, the Prime Minister had flashed a tantalising trailer of the coming bounty by saying he had prayed for Goddess Lakshmi to bless the middle class. When Finance Minister Nirmala Sitharaman finally unwrapped the gift box at the very end of her budget speech, it fully justified the mounting excitement among the likely beneficiaries. As many …

Tax cut to increase consumption
1 month, 3 weeks ago

Tax cut to increase consumption

New Indian Express  

NEW DELHI: 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 benefitting from a higher exemption limit …

Tax axe budget prods people to spend more
1 month, 3 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 …

No income tax upto Rs 12 lakh: Social media sparks meme frenzy after Budget 2025, netizens in celebration mode
1 month, 3 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 …

Empowerment, growth, and tax relief: Economists cheer Union budget
1 month, 3 weeks ago

Empowerment, growth, and tax relief: Economists cheer Union budget

Hindustan Times  

Economists have lauded the Union Budget 2025 for providing substantial relief to middle-class income taxpayers, with hopes that the measures will stimulate economic growth and boost consumption. This tax relief is expected to enhance purchasing power, increasing consumption and ultimately stimulating economic activity.” He further noted that the resulting rise in demand could also encourage savings and investment, widening the …

Watch: Budget 2025 round-up: Bonanza for the middle class
1 month, 3 weeks ago

Watch: Budget 2025 round-up: Bonanza for the middle class

The Hindu  

Ahead of the Budget, there was an expectation that the government would provide some relief for the middle class, which has been stuck in a rut lately. FM Nirmala Sitharaman delivered a big announcement for this class -- in her Budget speech, she announced that there would be no income tax for incomes up to ₹12 lakh. The Finance Minister …

India’s budget does well to drive growth despite a fiscal pullback
1 month, 3 weeks ago

India’s budget does well to drive growth despite a fiscal pullback

Live Mint  

The Union budget was presented on Saturday in the backdrop of sluggish real growth and stubborn albeit declining headline inflation with the latest print above 5%. For the upcoming budget year, nominal gross domestic product has been projected to grow at 10.1% over the half year-based First Advance Estimate for the current year, yielding a budgeted GDP denominator of ₹356.97 …

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money
1 month, 3 weeks ago

Tax Cuts In Budget 2025 Will Help You Save More, But Don’t Forget To Secure The Money

ABP News  

Today was a day of celebration for the middle class as Finance Minister Nirmala Sitharaman presented a landmark Union Budget. Based on this data, roughly 85 per cent of taxpayers will pay no tax from next year if they opt for the new tax regime. After the announcement, the new tax rates stand as follows: New Tax slabs Tax Rate …

‘Focus on wealth creation, win for middle class’: How experts see tax cut in Sitharaman’s Budget 2025
1 month, 3 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 …

In economy's shifting sands, a budget to boost demand
1 month, 3 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 …

Union Budget 2025 strengthens the middle class for a consumption-driven economy
Top News
1 month, 3 weeks ago

Union Budget 2025 strengthens the middle class for a consumption-driven economy

Live Mint  

The Union Budget 2025, presented by finance minister Nirmala Sitharaman, introduces key measures to strengthen India’s middle class. With a strong emphasis on tax relief, housing, employment, and infrastructure development, the budget aims to enhance financial security, boost demand, and propel India toward its vision of Viksit Bharat—a developed and economically empowered nation. Individuals earning up to ₹12 lakh annually …

India’s Budget 2025-26: Key Announcements, Tax Cuts, and Political Reactions
1 month, 3 weeks ago

India’s Budget 2025-26: Key Announcements, Tax Cuts, and Political Reactions

The Hindu  

Published : Feb 01, 2025 16:27 IST - 4 MINS READ Finance Minister Nirmala Sitharaman’s Budget 2025-26 attempts to balance economic priorities with electoral considerations. Agriculture takes centrestage, with an increased Rs.7 lakh cap on the subsidised Kisan Credit Card loans and targeted programmes for pulses, cotton, and makhana production. The government has also raised the subsidised Kisan Credit Card …

A visionary and pro-people Budget paving the way for Viksit Bharat: Naidu
1 month, 3 weeks ago

A visionary and pro-people Budget paving the way for Viksit Bharat: Naidu

Deccan Chronicle  

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Saturday welcomed the union budget for 2025-26, terming it pro-people and progressive, reflecting the vision for a Viksit Bharat under the leadership of Prime Minister Narendra Modi. “I extend my heartfelt congratulations to the Union Government and Finance Minister Nirmala Sitharaman for presenting a pro-people and progressive budget,” said Naidu in …

Why Budget 2025 has suddenly heeded to the harassed middle-class salaried taxpayer
1 month, 3 weeks ago

Why Budget 2025 has suddenly heeded to the harassed middle-class salaried taxpayer

Live Mint  

In a big announcement for the middle class during her budget speech, Union Finance Minister Nirmala Sitharaman gladdened the hearts of the influential if numerically smaller, white-collar class, a day after PM Narendra Modi’s invoked goddess Lakshmi’s special blessings for them. There will be no income tax payable up to ₹12 lakh--or up to ₹12.75 lakh, including standard deductions for …

A ₹1 trillion largesse for India's middle class
1 month, 3 weeks ago

A ₹1 trillion largesse for India's middle class

Live Mint  

Dear Reader, Speaking to the media just before the beginning of the budget session yesterday, Prime Minister Narendra Modi uncharacteristically invoked Goddess Lakshmi. By doing so, the government has attempted to tackle the rising anger among the middle class that they are being forced to lift disproportionate levels of burden when it comes to nation building. “This Government under the …

Budget 2025: One reason Sitharaman can afford to give income tax benefits
1 month, 3 weeks ago

Budget 2025: One reason Sitharaman can afford to give income tax benefits

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one reason for her to arrive at such a decision Finance Minister Nirmala Sitharaman on Saturday announced major tax benefits for the middle class, with positive tax collections likely being one of the reasons for her to arrive at such …

Budget 2025: Significant Tax Cuts and Reforms to Empower Middle Class and Boost Economy | ABP NEWS
1 month, 3 weeks ago

Budget 2025: Significant Tax Cuts and Reforms to Empower Middle Class and Boost Economy | ABP NEWS

ABP News  

The recent Indian Union Budget presented by Finance Minister Nirmala Sitharaman brings significant tax relief to the middle class. For those earning between ₹12 lakh and ₹16 lakh, the tax rate will be 15%, and it increases incrementally for higher income brackets, with a maximum of 30% for incomes above ₹24 lakh. Key announcements include opening the atomic energy sector …

Budget 2025: Middle Class Wins Big in 2025 Budget with Tax Cuts | ABP NEWS
1 month, 3 weeks ago

Budget 2025: Middle Class Wins Big in 2025 Budget with Tax Cuts | ABP NEWS

ABP News  

The 2025 budget has brought significant relief for the middle class, exceeding expectations. Finance Minister Nirmala Sitharaman announced substantial tax benefits, making the new tax regime more favorable compared to the old one. Unlike the old tax regime, which required various investment avenues for tax exemptions, the new regime directly puts money in the pocket of taxpayers without requiring additional …

‘Middle class always in PM Modi’s heart’: Amit Shah hails Budget as FM Sitharaman says ‘no income tax till ₹12 lakh’
1 month, 3 weeks ago

‘Middle class always in PM Modi’s heart’: Amit Shah hails Budget as FM Sitharaman says ‘no income tax till ₹12 lakh’

Live Mint  

Home Minister Amit Shah on February 1 hailed Finance Minister Nirmala Sitharaman's Budget speech. This came as Finance Minister Nirmala Sitharaman announced the abolition of income tax until ₹12 lakh under the new tax regime. Budget 2025 LIVE Updates Taking to X, Amit Shah said, “The middle class is always in PM Modi’s heart. Congratulations to all the beneficiaries on …

Budget 2025: Budget Offers Big Tax Breaks for Middle Class, Says Jyotiraditya Scindia | ABP NEWS
1 month, 3 weeks ago

Budget 2025: Budget Offers Big Tax Breaks for Middle Class, Says Jyotiraditya Scindia | ABP NEWS

ABP News  

The recent budget offers substantial tax relief to the middle class, with exemptions up to 12 lakh rupees and income tax reductions for high earners, ranging from 40% to 25%. By providing tax relief, the government encourages the middle class to invest in skills development, adopt technologies like AI, and contribute to the entrepreneurial ecosystem. This unprecedented tax relief, which …

Budget 2025: Nirmala Sitharaman announces rejig of income tax rates — Here’s how slabs have changed under new tax regime
1 month, 3 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 …

Happy With Income Tax Announcements In Budget 2025? Here's How Much It Will Cost Centre
1 month, 3 weeks ago

Happy With Income Tax Announcements In Budget 2025? Here's How Much It Will Cost Centre

ABP News  

Finance Minister Nirmala Sitharaman has unveiled significant tax relief for the salaried class under the new income tax regime. Announcing a major change, she stated that individuals with an income of up to Rs 12 lakh will be exempt from paying any income tax, excluding special rate incomes like capital gains. Slab Rate Changes Bring Relief In addition to the …

Massive announcement by Nirmala Sitharaman, middle-class gets new income tax structure
1 month, 3 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 …

‘No income tax up to ₹12 lakh’: Middle class erupts in joy at Nirmala Sitharaman's Budget bonanza
1 month, 3 weeks ago

‘No income tax up to ₹12 lakh’: Middle class erupts in joy at Nirmala Sitharaman's Budget bonanza

Hindustan Times  

Nirmala Sitharaman, in her Budget speech, said there would be “no income tax payable till income of ₹12 lakh.” The announcement prompted a wave of joy among the middle-class salaried population, and as expected, many took to social media to share their happiness about the “big relief.” Union Finance Minister Nirmala Sitharaman presents the Union Budget 2025-26 in the Lok …

Relief for middle class: No tax on income up to ₹12 lakh in new tax regime
Top News
1 month, 3 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, 3 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 …

Budget 2025: 3 big changes you can expect in new tax regime today
1 month, 3 weeks ago

Budget 2025: 3 big changes you can expect in new tax regime today

India Today  

Some major changes to the new income tax regime may be announced by Finance Minister Nirmala Sitharaman in the Budget 2025 to make it more attractive for taxpayers. Experts across various sectors are optimistic that the Finance Minister will introduce major measures in the new tax regime to ease the burden on the middle class. HIGHER REBATE UNDER SECTION 87A …

Budget 2025: Use this income tax calculator to check your tax outgo
1 month, 3 weeks ago

Budget 2025: Use this income tax calculator to check your tax outgo

India Today  

Finance Minister Nirmala Sitharaman is set to announce the Union Budget 2025 in Parliament, with major focus on potential income tax changes to boost consumption amid a slowdown in GDP growth. Experts suggest that the Modi 3.0 government may introduce measures to make the new income tax regime more appealing to taxpayers. While the government has not yet announced any …

Sitharaman to present record 8th Union Budget with middle-class hoping income tax cuts
1 month, 3 weeks ago

Sitharaman to present record 8th Union Budget with middle-class hoping income tax cuts

Firstpost  

The upcoming Union Budget, presented by Finance Minister Nirmala Sitharaman, will be her 8th consecutive budget. AP A cut or tweak in income tax rates/slabs to ease the burden of middle class struggling with high prices and stagnant wage growth is widely expected in Finance Minister Nirmala Sitharaman’s record setting eighth consecutive Budget. “We expect these two to be the …

Consumer-facing businesses get a boost from income tax cuts
1 month, 3 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: Neither a halwa, nor a biryani
1 month, 3 weeks ago

Budget 2025: Neither a halwa, nor a biryani

New Indian Express  

The FM claimed the government will forego Rs 1 lakh crore through this relief to the salaried class, which could benefit 1.5 million people, as per the tax statistics for the assessment year 2023-24. The budget seeks to ‘get more in the way’ through a series of measures on import duties, setting up of new boards, councils and committees and …

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