PM Modi Was Always In Support Of Slashing Tax Slabs, Says FM Nirmala Sitharaman
1 month, 3 weeks ago

PM Modi Was Always In Support Of Slashing Tax Slabs, Says FM Nirmala Sitharaman

ABP News  

Finance Minister Nirmala Sitharaman described the Union Budget as by the people, for the people, of the people, and said that the Prime Minister was in full support of slashing taxes. In an interview with PTI, the minister said it didn’t take much convincing for the PM to approve the changes in the tax slabs. EXCLUSIVE | VIDEO: Speaking to PTI in her first video interview to a private media on the Union Budget 2025-26, Union Finance Minister Nirmala Sitharaman on tax relief says, "There are a couple of things, which have been in the works for some time. There was this voice of the middle class which felt like they were ending up paying the tax nevermind, they were absolutely proud and happy to be taxpayers of the country, but also felt they didn’tt seem to have much coming in the way of redressing their problems,” the finance minister said.

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History of this topic

Simpler Filing Process To Faster Refunds: What New Income Tax Bill Could Bring
1 month, 1 week ago

Simpler Filing Process To Faster Refunds: What New Income Tax Bill Could Bring

ABP News  

The New Income Tax Bill is likely going to be introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha today. Ankit Garg, CEO, Wealthy Nivesh, shared that the New Income Tax Bill is expected to remove the issues related to penalties, litigations, and ambiguities in the tax filing process. Sandeep Bhalla, Partner, Dhruva Advisors, explained that the new tax …

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 …

Cabinet okays bill to replace Income Tax Act, may be tabled in parliament soon
Top News
1 month, 2 weeks ago

Cabinet okays bill to replace Income Tax Act, may be tabled in parliament soon

Live Mint  

The Union cabinet on Friday approved a bill to replace the more than six-decade-old Income Tax Act,1961 with a new, simpler and easy-to-understand law, as part of the government's regulatory reforms. The new Income Tax Bill is a key element of the regulatory reforms announced by finance minister Nirmala Sitharaman in her budget speech on 1 February, which outlined the …

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report
Top News
1 month, 2 weeks ago

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report

ABP News  

New Income Tax Bill: The Union Cabinet has reportedly given its nod to a new Income Tax Bill aimed at simplifying India’s tax framework and modernising compliance procedures, as reported by PTI citing sources. Finance Minister Nirmala Sitharaman first announced the Narendra Modi Government's intent to overhaul the tax framework during her Budget 2024 presentation. Updated Tax Slabs & Rates …

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 …

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 …

FM Sitharaman says ministry bureaucrats needed to be convinced to cut income tax, not the PM
1 month, 3 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 …

PM quickly got behind tax cut, bureaucrats took convincing: Finance Minister
1 month, 3 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 …

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?
1 month, 3 weeks ago

What are the new income tax slabs introduced in Union Budget 2025? How much will you save now?

Firstpost  

In Budget 2025, Finance Minister Nirmala Sitharaman has announced changes to the income tax slabs in the new regime. No tax on income up to Rs 12 lakh While delivering her Budget speech, which was 74 minutes in duration, Finance Minister Nirmala Sitharaman announced that the government will raise the tax rebate limit in the new regime from Rs 7 …

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered
1 month, 3 weeks ago

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered

ABP News  

In her 8th consecutive Budget speech, Finance Minister Nirmala Sitharaman introduced significant changes to the Income Tax slabs, especially benefiting salaried individuals. Question 1: Do I have to pay tax if my income is Rs 12 lakh and one rupee, and I am part of the new tax regime? The new revised tax slabs are as follows: 0-4 lakh rupees …

Union Budget 2025: Sitharaman makes New Tax Regime more attractive, here are the new tax slabs
1 month, 3 weeks ago

Union Budget 2025: Sitharaman makes New Tax Regime more attractive, here are the new tax slabs

Firstpost  

In the Budget 2025-26, Union Finance Minister Nirmala Sitharaman has proposed new income tax slabs with income up to Rs 12 lakh a year being tax free In the Budget 2025-26, Union Finance Minister Nirmala Sitharaman has proposed to overhaul direct taxes. Under the new income tax structure, the slabs would look Before the Budget 2025-26, the tax slabs were …

New income tax slabs released in Budget for FY 2025-26 | Check full details
1 month, 3 weeks ago

New income tax slabs released in Budget for FY 2025-26 | Check full details

Hindustan Times  

New Income Tax Slabs: Union finance minister Nirmala Sitharaman on Saturday presented the Union Budget 2025-2026 in the Parliament and introduced a massive relief for income tax payers. New Income Tax Slabs: The revised tax structure requires individuals with an income above ₹ 24 lakh to pay 30 per cent income tax. New Income Tax Slabs - Existing vs Revised …

No Income Tax On Income Up To Rs 12 Lakh: Finance Minister Sitharaman's Announcement For Middle Class
Top News
1 month, 3 weeks ago

No Income Tax On Income Up To Rs 12 Lakh: Finance Minister Sitharaman's Announcement For Middle Class

ABP News  

Union Budget 2025: Finance Minister Nirmala Sitharaman announced there will be no tax on income up to Rs 12 lakh under the new tax regime. "To taxpayers up to Rs 12 Lakhs of normal income other than special rate income such as capital gains, tax rebate is being provided in addition to the benefit due to slab rate reduction in …

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: Here are the new Income Tax slabs
1 month, 3 weeks ago

Budget 2025: Here are the new Income Tax slabs

India Today  

In a major relief for middle-class taxpayers, Finance Minister Nirmala Sitharaman on Saturday announced that individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime. I am now happy to announce that there will be no income tax up to an income of Rs 12 lakh," Sitharaman said while …

Income tax slab: 5 things in the new tax regime every taxpayer must know before filing ITR 2025
2 months, 2 weeks ago

Income tax slab: 5 things in the new tax regime every taxpayer must know before filing ITR 2025

Live Mint  

Income tax slab: In Budget 2024, Finance Minister Sitharaman introduced key changes to the income tax slabs under the new tax regime to make them more attractive for taxpayers. Five things in the new tax regime that taxpayers must know for filing ITR in 2025 1) Income tax slab rates The income tax slabs have been revamped under the new …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
7 months, 3 weeks ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times  

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?
8 months ago

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. In a significant move, Sitharaman unveiled new income tax slabs under the revised tax regime. Here are the new and old income tax slabs New income tax slabs 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% …

Old vs proposed income tax slabs under new regime. What has changed?
8 months ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

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

Union Budget 2024: From revising tax slabs to increasing defence spending, all big expectations from FM Sitharaman
8 months ago

Union Budget 2024: From revising tax slabs to increasing defence spending, all big expectations from FM Sitharaman

Firstpost  

The main demand from the salaried class is to revise the income tax slabs which Finance Minister Nirmala Sitharaman left unchanged in her interim budget in February. Experts say the Electric Vehicle industry has ‘high expectations’ from the Budget and that the Centre is likely to increase spending on defence and infrastructure Union Finance Minister Nirmala Sitharaman arrives at the …

Union Budget 2024: Will Nirmala Sitharaman bring income tax relief for middle class?
8 months, 1 week ago

Union Budget 2024: Will Nirmala Sitharaman bring income tax relief for middle class?

Hindustan Times  

With the Union Budget 2024 scheduled to be presented on July 23, 2024 by Finance Minister Nirmala Sitharaman, income tax slabs are an important component that has been getting a lot of attention lately, with reports suggesting there may be potential tax cuts for boosting consumption in the economy. The current slabs for the new tax regime are as follows: …

No Change In Tax Slabs, Focus On Middle-Class — Here Are The Highlights Of Budget 2024
1 year, 1 month ago

No Change In Tax Slabs, Focus On Middle-Class — Here Are The Highlights Of Budget 2024

ABP News  

Finance Minister Nirmala Sitharaman on Thursday announced a host of new schemes to be implemented once the new government assumes power. INFRASTRUCTURE Union Finance Minister Nirmala Sitharaman said that the capital expenditure outlay in the past 4 years had tripled and had a huge impact on economic growth and employment creation. "Our Government will launch a scheme to help deserving …

No changes in income tax rates, slabs, announces Nirmala Sitharaman
1 year, 1 month ago

No changes in income tax rates, slabs, announces Nirmala Sitharaman

Hindustan Times  

Finance minister Nirmala Sitharaman on Thursday announced no change in the existing tax regime -- both direct and indirect. For taxpayers, there will be no relief as income tax rates and slabs remain the same in the interim budget that Nirmala Sitharaman presented ahead of the Lok Sabha election 2024. "I propose to retain the same tax rates for direct …

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference
2 years, 1 month ago

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference

Live Law  

In her Budget 2023-24 speech, Union Finance Minister Nirmala Sitharaman has announced that the increase in the income tax rebate limit from Rs. Slab Rates Under New Tax Regime The new tax rates are : 0-3L: nil 3-6L: 5% 6-9L: 10% 9-12L: 15% 12-15L: 20% above 15L: 30% Slab Rates Under Old Tax Regime Up to 2,50,000: Nil 2,50,001 – …

Union Budget 2023-24: Modi government tweaks tax provisions to make new tax regime attractive
2 years, 1 month ago

Union Budget 2023-24: Modi government tweaks tax provisions to make new tax regime attractive

Firstpost  

The intent of the government is to make the new tax regime more attractive to salaried and small taxpayers. The intent is also to relieve small taxpayers from all hassles of tax planning using investment schemes in order to reduce tax liability The Union Budget 2023 has amended tax slabs for the new tax regime and has increased income tax …

What Budget document tells us about new Income Tax slab
2 years, 1 month ago

What Budget document tells us about new Income Tax slab

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday made as many as five announcements related to personal income tax, as she presented Union Budget for the financial year 2023-24. Changes have been made only to the new tax regime, while the old one has been left untouched One of the announcements made by Sitharaman on personal income tax – there was none …

Budget 2023: New Tax Slabs Welcomed By Netizens With Flurry Of Memes
2 years, 1 month ago

Budget 2023: New Tax Slabs Welcomed By Netizens With Flurry Of Memes

ABP News  

Union Finance Minister Nirmala Sitharaman presented the Budget 2023 in Parliament today. In new regime #Budget2023 pic.twitter.com/ebi3yWhw5e — Sagar February 1, 2023 Middle Class Ki dua kubool hui!!!! Waah — Gabbar February 1, 2023 #Budget2023 Finally 🥹 Middle Class after seeing new tax slab. pic.twitter.com/dD3ox2OXrk — UnknownClown February 1, 2023 New tax regime : No income tax on income of …

Income Tax Slabs: Tax Rates Under Old And New Regime Ahead of Union Budget 2023
2 years, 1 month ago

Income Tax Slabs: Tax Rates Under Old And New Regime Ahead of Union Budget 2023

News 18  

Budget 2023: One of the key demands from the Union Budget has been to change the existing personal income tax structure in order to provide relief to a large section of people, especially the salaried and middle class. Income Tax LIVE Updates: ‘Attractive Makeover’ of New Tax Regime with Slab Change in Budget 2023 Income Tax Slabs: Budget 2023 will …

Budget 2023: Know Existing Income Tax Slabs & Rates Under New Regime Vs Old Regime
2 years, 1 month ago

Budget 2023: Know Existing Income Tax Slabs & Rates Under New Regime Vs Old Regime

News 18  

Income Tax Rates and Slabs: Even as the Budget 2023 is around the corner and is set to be presented by Finance Minister Nirmala Sitharaman on Wednesday, February 1, the announcement regarding the income tax slabs and rates is one of the key watch out for. Here’s the comparison of the current income tax rates and slabs under the new …

Budget 2023: Is Govt Planning To Overhaul Income Tax Regime? Check Latest Update
2 years, 1 month ago

Budget 2023: Is Govt Planning To Overhaul Income Tax Regime? Check Latest Update

News 18  

One of the key demands from the Union Budget 2023 has been to change the existing personal income tax structure in order to provide relief to a large section of people, especially the salaried and middle class. If reports are to be believed, the government has held detailed discussions to overhaul the new personal income tax regime without exemptions, with …

Starmer says a Labour government would bring back 45p tax rate
2 years, 5 months ago

Starmer says a Labour government would bring back 45p tax rate

The Independent  

A Labour government would bring back the 45p tax rate for the highest earners, Sir Keir Starmer has announced. Sir Keir said he would reinstate the top income tax rate of 45 per cent, but supports the government plans to cut the basic rate to 19p. Asked if Labour would reintroduce the 45p rate, he told the BBC’s Sunday With …

Income Tax Slabs May Stay Unchanged, But Govt Likely to Give More Exemptions in Union Budget 2021
4 years, 1 month ago

Income Tax Slabs May Stay Unchanged, But Govt Likely to Give More Exemptions in Union Budget 2021

News 18  

The Centre is likely to tweak the list of eligible rebates and exemptions to allow some more categories of financial savings instruments for taxpayers in the optional income tax regime introduced in the Union budget last year. This is aimed to be done through tax proposals to incentivise the new tax regime rather than any major overhaul in the income …

‘Painless, seamless, faceless’: PM Modi says new reforms will change how we pay taxes
4 years, 7 months ago

‘Painless, seamless, faceless’: PM Modi says new reforms will change how we pay taxes

Hindustan Times  

Prime Minister Narendra Modi launched a new tax scheme on Thursday in a bid to honour and encourage honest taxpayers of the country. “When the life of an honest taxpayer of the country becomes easy, he moves forward, then the country also develops and moves forward,” he said Finance Minister Nirmala Sitharaman said that the prime minister’s vision is to …

PM Modi to Launch 'Transparent Taxation
4 years, 7 months ago

PM Modi to Launch 'Transparent Taxation

News 18  

Prime Minister Narendra Modi will on Thursday launch a new platform, "Transparent Taxation Honouring the Honest", which will carry forward the journey of direct tax reforms, an official statement said here. The Central Board of Direct Taxes has carried out several major tax reforms in direct taxes in the recent years, the statement pointed out. This includes bringing more transparency …

Budget 2020: Govt introduces five income tax slabs with lower rates for those foregoing exemptions, earlier regime to coexist for now
5 years, 1 month ago

Budget 2020: Govt introduces five income tax slabs with lower rates for those foregoing exemptions, earlier regime to coexist for now

Firstpost  

Finance Minister Nirmala Sitharaman on Saturday introduced new Income Tax slabs, reduced the tax rate for different slabs, and also rejigged rates. The new tax regime will be optional and the taxpayers will be given the choice to either remain in the old regime with exemptions and deductions or opt for the new reduced tax rate without those exemptions, Nirmala …

Income Tax Slabs revised, BIG relief to middle class. Details here
5 years, 1 month ago

Income Tax Slabs revised, BIG relief to middle class. Details here

India TV News  

Income Tax Slab Revision 2020-21: Finance Minister Nirmala Sitharaman on Saturday delivered major relief to tax payers by slashing tax rates and restructuring the tax slabs. Presenting the Budget 2020 in the Lok Sabha, Sitharaman proposed to bring a personal income tax regime, where income tax rates will be reduced, so now, person earning between Rs 5 to 7.5 lakhs …

Budget 2020 Highlights: Nirmala Sitharaman announces tax cuts and an LIC stake sale!
5 years, 1 month ago

Budget 2020 Highlights: Nirmala Sitharaman announces tax cuts and an LIC stake sale!

New Indian Express  

Our consulting editorin his first take on the budget had this to say: If we were hoping for a major stimulus in the budget to counter the slowdown and breathe some life in the markets, it is not there. In fact, the Budget speech, one of the longest in recent years, was sounding as tired as the Finance Minister by …

Govt proposes BIG relief on income tax slabs in Budget 2020: Reports
5 years, 2 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: Why taxpayers may benefit from slowdown
5 years, 2 months ago

Budget 2020: Why taxpayers may benefit from slowdown

India Today  

The government may slightly tweak personal income tax slabs or offer a lower flat tax rate in the upcoming budget as it looks to revive the slowing economy. A finance ministry source, who spoke to India Today on condition of anonymity, said the government is "actively considering" the prospect of tweaking income tax slabs and help increase the disposable income …

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending
5 years, 5 months ago

Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending

Firstpost  

Introduction of 10% tax rate for salaried people who earn between Rs 5 lakh and Rs 10 lakh is one of the recommendations After last month’s massive tax cut for the corporate sector by Finance Minister Nirmala Sithataman to make the sector more competitive, the government is planning to provide relief for the salaried class too by rationalising the personal …

Govt plans rejig in personal tax slabs to boost spending
5 years, 5 months ago

Govt plans rejig in personal tax slabs to boost spending

Hindustan Times  

The government is considering rationalising personal income tax rates in a move that will result in the increase of disposable incomes, especially among the middle class, and hopefully drive consumption and, therefore, growth, two government officials said on condition of anonymity. Government officials have been working on simplifying archaic income-tax laws and rationalising tax rates in line with recommendations of …

Budget 2019: Will income tax slabs, rates get another revision?
5 years, 9 months ago

Budget 2019: Will income tax slabs, rates get another revision?

India Today  

Expectations are soaring among Indian taxpayers, who are eagerly awaiting new finance minister Nirmala Sitharaman's maiden budget speech on July 5. According to tax experts, the government is unlikely to increase the basic income tax exemption limit in this year's full budget as it had already announced a provision where individuals earning up to Rs 5 lakh can get full …

As Budget nears, hopes of the salaried run high; will the government deliver?
8 years, 2 months ago

As Budget nears, hopes of the salaried run high; will the government deliver?

Firstpost  

If the government raises the basic exemption limit and also eases the slabs at which tax is collected, it will need to announce measures to widen the tax base significantly New Delhi: The aam aadmi is expecting a big relief in personal income tax rates and an increase in other exemptions in the forthcoming Union Budget, since indications are that …

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