‘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 this occasion.” During her Union Budget 2025 speech, FM Sitharaman announced that no income tax will be payable on income up to ₹12 lakh, providing significant relief to taxpayers, especially the middle class. Sitharaman said, “To taxpayers, up to ₹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 them.” The announcement from the finance minister of this big relief to the middle class was met by loud thumping of the desks by the treasury benches led by PM Narendra Modi.

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History of this topic

Steep cut in tax won’t be rolled back, FM tells LS
15 hours, 43 minutes ago

Steep cut in tax won’t be rolled back, FM tells LS

Hindustan Times  

New Delhi Union finance minister Nirmala Sitharaman assured the Lok Sabha on Tuesday that the steep reduction in personal income-tax for the middle class would not be rolled back in the future, noting that the government has carefully factored in the ₹1 lakh crore outgo while estimating revenue for 2025-26, which includes a 13%-plus projected growth in personal income tax …

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime
1 month ago

Earning up to Rs 12.75 lakh? Why you should opt for new income tax regime

India Today  

Perhaps, the biggest Budget 2025 announcement by the Finance Minister Nirmala Sitharaman was that individuals with salaries up to Rs 12 lakh will pay zero taxes under the new tax regime. However, with Rs 75,000 as the standard deduction under the new regime, individuals earning up Rs 12.75 lakh annually need not pay any taxes. The Finance Minister in her …

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

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

Live Mint  

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

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

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

Live Mint  

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

India’s Income Tax Bill sets the stage for significant reforms
1 month, 1 week ago

India’s Income Tax Bill sets the stage for significant reforms

Live Mint  

The Income Tax Act of 1961 has undergone innumerable amendments since its inception. We have an outdated Income Tax Act, burdened with obsolete provisions and a cumbersome structure, especially in the context of economic liberalization, which reduced the government’s role in the economy. Given that the Centre has undertaken major reforms in recent years—introducing a new Companies Act, overhauling civil …

Watch | Explained: What’s in the new Income Tax Bill?
1 month, 1 week ago

Watch | Explained: What’s in the new Income Tax Bill?

The Hindu  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This new legislation, which seeks to simplify and modernise India’s tax system, would replace the six-decade-old Income Tax Act, 1961, when it is passed by the Parliament and when the President gives her assent. The new Income Tax Bill consists of 536 …

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre
1 month, 1 week ago

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre

Hindustan Times  

Finance Minister Nirmala Sitharaman tabled the Income Tax Bill 2025 in the Lok Sabha on February 13. Finance Minister Nirmala Sitharaman had announced a comprehensive review of Income Tax Act 1961 on July 23, 2024 and had set a time limit of six months for the same. The bill and act in numbers The Income Tax Act 1961 had 5.12 …

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

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

Firstpost  

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

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

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

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 2 weeks ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

Only empty promises, no specific roadmap, says Opposition on Union Budget
1 month, 2 weeks ago

Only empty promises, no specific roadmap, says Opposition on Union Budget

The Hindu  

Continuing the debate on the Union Budget in Parliament, MPs from the Opposition said the government had failed to resurrect India’s manufacturing sector, had given inadequate allocation for health and education, and lacked a roadmap to deal with the challenge of artificial intelligence. All that the Finance Minister said was that we are going to set up 100 centres of …

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, 2 weeks ago

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

The Hindu  

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

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 2 weeks ago

New income tax regime: Check revised tax rates, slabs, and will you benefit?

India Today  

The new income tax regime is set to become the preferred option for the majority of taxpayers in the upcoming financial year, following the proposals in the Union Budget 2025. In fact, salaried individuals with an annual income of Rs 12.75 lakh won't have to pay any tax, given the standard deduction of Rs 75,000 under the new regime. High-income …

Tax Monthly Digest: January 2025
1 month, 2 weeks ago

Tax Monthly Digest: January 2025

Live Law  

SUPREME COURT Motor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme Court Case name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand. A division bench of Justices Yashwant Varma and Dharmesh Sharma ruled, “The Commissioner, while seeking to review an order passed under the Act and in purported …

Income Tax Bill to make rules simpler, easy to read
1 month, 2 weeks ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

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 …

How Modi’s Union budget played a key role in BJP’s victory in Delhi assembly elections
1 month, 2 weeks ago

How Modi’s Union budget played a key role in BJP’s victory in Delhi assembly elections

Live Mint  

The BJP's return to Delhi after 27 years, one of their strongest showings ever in the national capital, has been boosted in no small way by last week's Union budget, which slashed income tax for the salaried middle class, a key voting bloc in the capital. Almost 30 years later, the same middle class has swung them back to power,” …

Delhi Election Results: Did Nirmala Sitharaman’s Income Tax cuts fuel BJP’s capital gains?
1 month, 2 weeks ago

Delhi Election Results: Did Nirmala Sitharaman’s Income Tax cuts fuel BJP’s capital gains?

Live Mint  

Delhi Election Results: Union Finance Minister Nirmala Sitharaman announced in her Budget 2025 speech on February 1 that income tax will not be payable up to income of ₹12 lakh. Focus Middle Class From President Droupadi Murmu to AAP chief Arvind Kejriwal, everyone seemed to be concerned about the middle class in the run-up to the Februay 5 assembly polls …

NDA govt has left more money in the hands of middle class by lowering income tax: PM Modi
1 month, 3 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 …

ECONOMIC PERSPECTIVES | Budget 2025: Behind the BJP’s Plot to Consolidate the Middle Class Vote Bank
1 month, 3 weeks ago

ECONOMIC PERSPECTIVES | Budget 2025: Behind the BJP’s Plot to Consolidate the Middle Class Vote Bank

The Hindu  

Published : Feb 04, 2025 18:50 IST - 10 MINS READ If an element of surprise is the hallmark of a good budget, then Finance Minister Nirmala Sitharaman can pride herself on having won the day on February 1. This helped finance corporate tax concessions, some capital spending, and limited allocations for different welfare schemes linked to the ruling party …

When Will The New Income Tax Rates Come Into Effect?
1 month, 3 weeks ago

When Will The New Income Tax Rates Come Into Effect?

ABP News  

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

All income groups got a little something from the Budget
Trending News
1 month, 3 weeks ago

All income groups got a little something from the Budget

Live Mint  

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

Respecting service of taxpayers: Nirmala Sitharaman on Budget income tax breaks
Trending News
1 month, 3 weeks ago

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

India Today  

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

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 3 weeks ago

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

India Today  

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

5 key tax reforms for middle class introduced in Budget 2025
1 month, 3 weeks ago

5 key tax reforms for middle class introduced in Budget 2025

India Today  

The Union Budget 2025 presented by Finance Minister Nirmala Sitharaman on February 1, 2025, witnessed several key income tax reforms aimed especially at the middle class. REVISION OF INCOME TAX SLABS The government has proposed revisions to the tax slabs under the new regime: 0-4 lakh rupees: Nil 4-8 lakh rupees: 5% 8-12 lakh rupees: 10% 12-16 lakh rupees: 15% …

Karnataka: Tax cut for middle class a gimmick to divert India’s declining growth rate, says Rajeev Gowda
1 month, 3 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 …

Anupam Mittal of Shaadi.com on Budget 2025: ‘You don’t build an economy by making people feel…’
1 month, 3 weeks ago

Anupam Mittal of Shaadi.com on Budget 2025: ‘You don’t build an economy by making people feel…’

Live Mint  

Shaadi.com CEO Anupam Mittal appreciated the government's decision to levy zero tax on individuals earning up to ₹12 lakh, proposed in the Union Budget 2025. Anupam Mittal highlighted that the middle class has been a ‘punching bag,’ as they are taxed for every rupee they earn, while the rich get away by finding loopholes and businesses receive tax breaks. Taxed …

Using a tax prod to goad the great Indian middle class
1 month, 3 weeks ago

Using a tax prod to goad the great Indian middle class

New Indian Express  

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

Income up to Rs 12 lakh is tax-free, but do you know the tax-exemption limit? Find out
Trending News
1 month, 3 weeks ago

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

India TV News  

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

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 3 weeks ago

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

India Today  

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

‘Taxpayers build nation they’ll drive demand,’ says FM Nirmala Sitharaman
1 month, 3 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”. …

Budget 2025 overlooks joblessness
Trending News
1 month, 3 weeks ago

Budget 2025 overlooks joblessness

The Hindu  

The previous Budget, presented in July 2024 after the Lok Sabha election, had accorded priority to employment and skill development, given the nature of the election mandate. Among centrally The Finance Minister has sought to counterbalance the deflationary impact of these expenditure cuts by enhancing the annual rebate for income tax payers from ₹7 lakh to ₹12 lakh from 2025-26. …

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 …

How Union Budget 2025 has seen the biggest tax break in 20 years
1 month, 3 weeks ago

How Union Budget 2025 has seen the biggest tax break in 20 years

Firstpost  

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. Under the new tax regime, individuals earning up to Rs 12 lakh annually will have zero income tax liability, marking a major relief for the salaried middle class. …

How Union Budget 2025 has seen the biggest tax break in 20 years
1 month, 3 weeks ago

How Union Budget 2025 has seen the biggest tax break in 20 years

Firstpost  

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. Under the new tax regime, individuals earning up to Rs 12 lakh annually will have zero income tax liability, marking a major relief for the salaried middle class. …

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman
1 month, 3 weeks ago

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman

ABP News  

CBDT Chairman, Ravi Agrawal, on Sunday said that revisions in the tax slabs should bring nearly all the individual taxpayers to the new income tax regime. Speaking in an interview with PTI, the Central Board of Direct Taxes executive said that the Budget 2025’s announcement of no tax on earnings up to Rs 12 lakh per annum should help the …

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains
1 month, 3 weeks ago

Why did government increase income tax exemption from ₹7 lakh to ₹12 lakh? FM Nirmala Sitharaman explains

Hindustan Times  

Union finance minister Nirmala Sitharaman has said the government increased the income tax exemption from ₹7 lakh to ₹12 lakh to reduce the tax burden on people earning ₹1 lakh per month. Nirmala Sitharaman added that the government was also lowering tax slab rates and widening tax brackets to give relief to taxpayers across all income levels. She added that, …

India’s tax laws set for a revamp: What is the new Income Tax Bill? How will it affect you?
Trending News
1 month, 3 weeks ago

India’s tax laws set for a revamp: What is the new Income Tax Bill? How will it affect you?

Firstpost  

Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill aimed at simplifying the six-decade-old tax system in the coming week. File Image/Reuters Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill in Parliament next week, aiming to simplify the six-decade-old Income Tax Act of 1961. Simplification of tax compliance One of the …

India’s tax laws set for a revamp: What is the new Income Tax Bill? How will it affect you?
1 month, 3 weeks ago

India’s tax laws set for a revamp: What is the new Income Tax Bill? How will it affect you?

Firstpost  

Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill aimed at simplifying the six-decade-old tax system in the coming week. File Image/Reuters Finance Minister Nirmala Sitharaman is set to introduce a new Income Tax Bill in Parliament next week, aiming to simplify the six-decade-old Income Tax Act of 1961. Simplification of tax compliance One of the …

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check
1 month, 3 weeks ago

Budget 2025: Earning above ₹12 lakh? Here’s how your tax could spike—or stay in check

Live Mint  

Imagine getting a salary bump, only to find that your tax bill eats up most—if not all—of your raise. Thankfully, marginal relief has your back, ensuring that small increases in income don’t result in a huge spike in tax outgo. View Full Image Marginal relief ensures that the maximum tax outgo on income that marginally exceeds ₹ 12 lakh is …

'If you earned ₹12 lakh in Nehruji's time…': How PM Modi praised Budget 2025
1 month, 3 weeks ago

'If you earned ₹12 lakh in Nehruji's time…': How PM Modi praised Budget 2025

Hindustan Times  

Prime Minister Narendra Modi on Sunday took a swipe at the Congress, invoking former prime ministers Jawaharlal Nehru and Indira Gandhi to claim that their governments imposed heavy taxes on people’s earnings, while his government has eased the tax burden and provided greater relief to the middle class. If we look at this budget—back in Nehru Ji’s time, if you …

‘If you were earning ₹12 lakh during Nehru’s era…’: PM Modi targets Congress; says BJP will form govt in Delhi
Trending News
1 month, 3 weeks ago

‘If you were earning ₹12 lakh during Nehru’s era…’: PM Modi targets Congress; says BJP will form govt in Delhi

Live Mint  

Prime Minister Narendra Modi on Sunday took a swipe at the Congress party and invoked former Prime Ministers Jawaharlal Nehru and Indira Gandhi to highlight the income tax relief announced in Budget 2025. On Saturday, presenting the Union Budget 2025 in the Lok Sabha, Finance Minister Nirmala Sitharaman announced that no income tax will be payable on income up to …

No income tax up to Rs 12 lakh: What it means if you earn more
1 month, 3 weeks ago

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

Firstpost  

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

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh
Top News
1 month, 3 weeks ago

’PM Modi was very clear...’: What FM Nirmala Sitharaman said on income tax relief up to ₹12 lakh

Live Mint  

Nirmala Sitharaman announced a major overhaul of the income tax system while outlining the Budget on Saturday. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime — with benefit of ₹80,000. Sitharaman announced on Saturday that there would be “no income tax payable up to income of ₹12 …

Will income tax relief for middle class in Union Budget give leg up to BJP in Delhi polls?
1 month, 3 weeks ago

Will income tax relief for middle class in Union Budget give leg up to BJP in Delhi polls?

Firstpost  

In a big relief for the middle class, Union Finance Minister Nirmala Sitharaman said those earning an annual income of up to Rs 12 lakh do not have to pay income tax. Delhi BJP leaders have welcomed the tax relief in the Budget, saying it will boost the confidence of the middle class in the BJP. Speaking to PTI, Delhi …

Delhiites hail tax relief up to ₹12-L income
1 month, 3 weeks ago

Delhiites hail tax relief up to ₹12-L income

Hindustan Times  

New Delhi: The Union budget presented on Saturday and its most talked-about takeaway, a big tax break for the middle class, brought cheer to a wide swathe of Delhiites and triggered the possibility that the big-bang announcement could move the needle in the upcoming assembly elections in the Capital in favour of the Bharatiya Janata Party. “By increasing the income …

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 …

Pandering to middle class
1 month, 3 weeks ago

Pandering to middle class

New Indian Express  

The Economic Survey 2025 has cautioned about the growing risks to sustaining high GDP growth rates, despite projecting a possible target of 6.3–6.8% for the coming year. Despite these concerns, the Economic Survey 2025 highlights the brighter aspects of the economy while recommending key government interventions amid geopolitical headwinds. Many have described the current tax regime as ‘tax terrorism’ — …

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 …

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