Interim Budget in line with our policies over last 5 years: Piyush Goyal
5 years, 11 months ago

Interim Budget in line with our policies over last 5 years: Piyush Goyal

Live Mint  

Rejecting the opposition's allegations that the Interim Budget was a please-all one ahead of the Lok Sabha polls, Finance Minister Piyush Goyal on Friday said all the announcements were consistent with the government's policies and endeavours over the last five years. "If you see the track record of this government for the last five years, we have consistently passed on the benefits to our taxpayers. You saw the income tax limit on interest increasing from ₹1.5 lakh to ₹2 lakh, tax exemption slab increasing from ₹2 lakh to ₹2.5 lakh and then further rebate up to ₹3 lakh," Goyal told mediapersons here. The rest is for the people to decide," he said responding to the criticism by opposition over the income tax exemption and farmers' subsidy.

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History of this topic

Budget 2025: Why new tax regime should get HRA inclusion, higher standard deduction
2 days, 6 hours ago

Budget 2025: Why new tax regime should get HRA inclusion, higher standard deduction

India Today  

Will this year’s Budget rewrite the playbook for the new tax regime and ease the financial burden on taxpayers? Amid rising costs and squeezed disposable incomes, the spotlight is on the new tax regime, with experts pushing the demands for HRA inclusion and a Rs 1 lakh standard deduction in Budget 2025. Kuldip Kumar, Partner at Mainstay Tax Advisors, said, …

Budget 2025: Five income tax changes that you can expect in Nirmala Sitharaman’s speech
4 days, 5 hours ago

Budget 2025: Five income tax changes that you can expect in Nirmala Sitharaman’s speech

Live Mint  

As Finance Minister Nirmala Sitharaman prepares for Budget 2025 announcements, several anticipated income tax reforms may impact salaried people. 5 income tax changes that you can expect in Budget 2025 1)Income tax slab rate The government may further promote the new tax regime by offering additional benefits to make it more attractive to taxpayers. Current tax slabs under the new …

Budget 2025 expectations: Rs 5 lakh exemption and simpler taxes, says EY
Trending News
6 days, 11 hours ago

Budget 2025 expectations: Rs 5 lakh exemption and simpler taxes, says EY

India Today  

With the Union Budget 2025-26 around the corner, EY India has proposed a slew of reforms aimed at easing the financial burden on taxpayers and simplifying India's tax system. The global consulting firm suggests that increasing the basic income tax exemption limit to Rs 5 lakh, lowering tax rates, and rationalising tax structures could provide much-needed relief to the ordinary …

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

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

India Today  

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

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

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

India Today  

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

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

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

India Today  

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

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report
1 week ago

Budget 2025: Easier ITR filing and tax dispute reduction expected, says report

India Today  

The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's tax landscape, aiming to simplify income tax filing and address longstanding tax disputes. According to a Bloomberg report, Finance Minister Nirmala Sitharaman is expected to unveil a comprehensive overhaul of the Income Tax Act, 1961, a move that has been in the works for several months. KEY …

Budget 2025: 5 reforms that could make new tax regime a better deal for you
Trending News
1 week, 5 days ago

Budget 2025: 5 reforms that could make new tax regime a better deal for you

India Today  

Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2025 on February 1, 2025. The new tax regime is expected to take centre stage in the budget, with reforms designed to make it a more attractive alternative to the traditional tax structure. POSSIBLE REFORMS IN THE NEW TAX REGIME The upcoming budget could include several changes to the …

Mohandas Pai shares his Budget 2025 wishlist: No tax up to ₹5 lakh, large tax slabs, relief for middle class & more
1 week, 6 days ago

Mohandas Pai shares his Budget 2025 wishlist: No tax up to ₹5 lakh, large tax slabs, relief for middle class & more

Live Mint  

Former Infosys CFO TV Mohandas Pai has requested a set of reforms in the upcoming budget, which is scheduled to be announced in February 2025. Pai has asked Prime Minister Narendra Modi to make Budget 25-26 “a year of Big Reforms.” In a post on X, he suggested a list of reforms the government could implement. The former Infosys CFO …

Budget 2025: Mohandas Pai calls for revised tax slabs, relief for middle-class
Trending News
1 week, 6 days ago

Budget 2025: Mohandas Pai calls for revised tax slabs, relief for middle-class

India Today  

As the 2025 Union Budget approaches, former Infosys CFO TV Mohandas Pai has outlined his recommendations for substantial tax reforms. PROPOSED TAX REFORMS Pai highlighted the sharp increase in individual tax collections, which rose from Rs 4.87 lakh crore in FY21 to Rs 10.45 lakh crore in FY24—a 114% jump in three years. He proposed new tax slabs with no …

Budget 2025: When was the last major income tax relief given?
Trending News
2 weeks, 2 days 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 …

Income tax budget on ITR filing: Will FM Nirmala Sitharaman announce tax relief for taxpayers earning up to ₹15 lakh?
2 weeks, 4 days ago

Income tax budget on ITR filing: Will FM Nirmala Sitharaman announce tax relief for taxpayers earning up to ₹15 lakh?

Live Mint  

Every year, India’s salaried class eagerly awaits relief in income tax. New income tax regime Individuals earning up to ₹3 lakh annually are exempt from income tax under the new tax regime that was implemented in 2020. Slabs Tax rate Upto ₹ 3 lakh Nil ₹ 3-7 lakh 5% ₹ 7-10 lakh 10% ₹ 10-12 lakh 15% ₹ 12-15 lakh …

Budget 2025: India eyes income tax relief for middle class earning up to ₹15 lakh, check details
2 weeks, 5 days ago

Budget 2025: India eyes income tax relief for middle class earning up to ₹15 lakh, check details

Live Mint  

NEW DELHI - India is considering cutting income tax for individuals making up to 1.5 million rupees a year in February's budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters. The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they …

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

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

India Today  

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

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
1 month, 2 weeks ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

Relief to middle class? Inflation offsets hike in tax exemption limit
1 month, 4 weeks ago

Relief to middle class? Inflation offsets hike in tax exemption limit

New Indian Express  

NEW DELHI: The government recently claimed that Income tax burden on the common man has come down in the last 10 years, thanks to the Narendra Modi-led government’s various measures. It claimed that taxpayers in the Rs 2.5-7 lakh tax bracket who paid on an average Rs 25,000 in FY14 are now paying zero tax. Fast forward to FY 2024-25, …

Can you expect major income tax changes in Budget 2025? Check details
2 months ago

Can you expect major income tax changes in Budget 2025? Check details

India Today  

The Union Budget 2025-26 is set to usher in a new era of tax simplification in India, with the Finance Ministry working on comprehensive reforms to streamline the income tax system. The proposed reforms focus on three key areas: simplifying tax structures, expanding the tax base, and balancing revenue generation with taxpayer relief. SIMPLER TAX FILING Building on the success …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
2 months ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

Budget 2024: ‘I want to relieve middle class, but I have limitations too,’ says Finance Minister Nirmala Sitharaman
5 months, 3 weeks ago

Budget 2024: ‘I want to relieve middle class, but I have limitations too,’ says Finance Minister Nirmala Sitharaman

Live Mint  

In a recent interview, Finance Minister Nirmala Sitharaman revealed that the Union Budget 2024 aims to provide relief to the middle class, albeit within certain limitations. The Budget 2024 proposes adjustments to the income tax slabs under the new tax regime, benefiting individuals with taxable incomes up to ₹10 lakh. In sops for the middle class, the finance minister hiked …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
5 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: Is the new income tax regime beneficial for all salaried taxpayers?
5 months, 3 weeks ago

Budget 2024: Is the new income tax regime beneficial for all salaried taxpayers?

Hindustan Times  

The government is nudging salaried income taxpayers to move to a new regime, which it says is simpler and offers lower rates of taxes. In her 2020 budget speech introducing the new tax regime, finance minister Nirmala Sitharaman noted that the income tax law allowed more than 100 exemptions and deductions. Those who had made certain investment decisions to benefit …

New income tax regime: Check how much tax you will pay now
5 months, 3 weeks ago

New income tax regime: Check how much tax you will pay now

India Today  

Finance Minister Nirmala Sitharaman announced key changes to the New Income Tax regime, tweaking tax slabs and increasing the standard deduction. Read Full Budget 2024 Coverage The Finance Minister highlighted that over two-thirds of tax filers chose the new personal income tax regime in the last fiscal year. New Tax Regime after revision The revised tax slabs under the New …

Budget 2024 creates a template for reforms in Modi 3.0
5 months, 3 weeks ago

Budget 2024 creates a template for reforms in Modi 3.0

Firstpost  

This year’s Budget stands out for its balanced approach, focusing on fiscal discipline, capital expenditure, regulatory simplification, job creation, and next-generation reforms, aiming to stimulate high growth and employment Budgets have long been spectacles of grand announcements and symbolic gestures. Additionally, the budget aims to enhance women’s workforce participation through infrastructure support and specialised skilling programmes, and to upgrade 1,000 …

Budget 2024: Time to opt out of old tax regime? Explained
5 months, 3 weeks ago

Budget 2024: Time to opt out of old tax regime? Explained

Hindustan Times  

The message from Budget 2024 was loud and clear: say goodbye to the old income tax regime. Union finance minister Nirmala Sitharaman proposed three key changes in the new tax regime, while the old one was left untouched. If your deductions and exemptions exceed the break-even amount, go for the old tax regime, otherwise the new tax regime will be …

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here
5 months, 3 weeks ago

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

India TV News  

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more advantageous than before. Proposed tax structure under new tax system 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% Above 15 lakh: …

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
5 months, 3 weeks ago

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways

Hindustan Times  

Finance minister Nirmala Sitharaman on Tuesday proposed the much-awaited change in the income tax slabs as she tabled the first Union Budget of the new Narendra Modi government. "Under the new tax regime, tax rate structure to be revised as follows - ₹0- ₹3 lakh -Nil; ₹3-7 lakh -5%; ₹7-10 lakh-10%; ₹10-12 lakh-15%; ₹12-15 lakh- 20% and above ₹15 lakh-30%," …

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

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

Hindustan Times  

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

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

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

The Hindu  

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

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?
5 months, 3 weeks 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% …

Budget 2024: How will it impact the common people and consumers? CHECK here
5 months, 3 weeks ago

Budget 2024: How will it impact the common people and consumers? CHECK here

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25, with nine outlined priorities in agriculture, employment and skilling, manufacturing and services, human resource development, urban development, energy security and more. Sitharaman announced Prime Minister Narendra Modi's package of five schemes for employment, skilling and other opportunities for employment, skilling and other opportunities for 4.1 crore youth …

Old vs proposed income tax slabs under new regime. What has changed?
5 months, 3 weeks 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: Income tax slabs changed, standard deduction increased. Read details
5 months, 3 weeks ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

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

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

The Hindu  

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

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

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

India TV News  

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

Income Tax Budget Highlights: Govt proposes tax cuts, more standard deduction
5 months, 3 weeks ago

Income Tax Budget Highlights: Govt proposes tax cuts, more standard deduction

Hindustan Times  

New Tax Regime LIVE updates: Union Finance Minister Nirmala Sitharaman presents the Union Budget 2024-25 in Lok Sabha, in New Delhi, Tuesday, July 23, 2024. New Tax Regime Highlights: Union finance minister Nirmala Sitharaman presented her seventh consecutive Budget amid expectations from the middle class for relief at the tax front. Moreover, the efficiency of tax collection has improved over …

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

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

India TV News  

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

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime
5 months, 3 weeks ago

Budget 2024 HIGHLIGHTS: Andhra Pradesh, Bihar major gainers; special focus on jobs, new tax regime

India TV News  

Uttar Pradesh CM Yogi Adityanath's reaction on Union Budget: "Under the guidance of PM Modi, in the new parliament of the country, the Finance Minister has laid down the general budget of the country which is - inclusive, development-oriented and one which will fulfil the aspirations of 140 cr people. The new tax slabs announced in the budget are welcoming." …

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

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

Hindustan Times  

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

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

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

Hindustan Times  

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

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

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

India Today  

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

Mahayuti tables demand of ₹95,000 crore to fund populist schemes ahead of polls
6 months ago

Mahayuti tables demand of ₹95,000 crore to fund populist schemes ahead of polls

Hindustan Times  

Mumbai: Merely a week after the ₹6,12,293 crore budget for 2024-25 was presented, the state government tabled the supplementary demands of ₹94,889 crore, making it the highest ever in history. The supplementary demands mostly aim to finance the populist schemes announced in the budget in anticipation of the upcoming Assembly polls scheduled for October this year. Jayant Patil, former finance …

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

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

India Today  

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

Budget 2024: Finance minister Nirmala Sitharaman to increase income tax exemption limit?
6 months, 3 weeks ago

Budget 2024: Finance minister Nirmala Sitharaman to increase income tax exemption limit?

Hindustan Times  

Finance Minister Nirmala Sitharaman may increase income tax exemption limit in the upcoming Budget 2024 which is the first for the third term of the PM Modi Government. News agency Reuters reported that the first full-fledged Budget 2024 of Modi 3.0 may relieve taxpayers as the government is considering reducing income tax rates for specific groups of individuals. The government …

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

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

India Today  

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

New Tax regime rules to come into effect from today: Check deductions, rebates, changes in tax slab
9 months, 2 weeks ago

New Tax regime rules to come into effect from today: Check deductions, rebates, changes in tax slab

India TV News  

As the new financial year begins on April 1, there will be changes to India's income tax regulations. The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system. The tax slabs will …

IndiaAI Mission, DA hike, Ujjwala subsidy: Here are 5 major decisions taken by Cabinet today
10 months, 1 week ago

IndiaAI Mission, DA hike, Ujjwala subsidy: Here are 5 major decisions taken by Cabinet today

Hindustan Times  

Union minister Piyush Goyal on Thursday announced five major decisions taken by the Narendra Modi government in its cabinet meeting. Here's a look at the major decisions announced by the union minister today: Union minister Piyush Goyal briefs the media on Cabinet decisions. 4% increase in dearness allowance The Union Cabinet approved a hike in Dearness Allowance to government employees …

Low budgetary allocation crippling MGNREGS, says Parliamentary panel
11 months ago

Low budgetary allocation crippling MGNREGS, says Parliamentary panel

The Hindu  

A reduced budget at the outset of the financial year for the Mahatma Gandhi National Rural Employment Guarantee Scheme has a “cascading effect on various important aspects” of the programme and a telling impact on its progress, the Parliamentary Standing Committee on Rural Development said in its report tabled on Thursday. ‘Cascading effect’ The committee pointed out that the budgetary …

No cuts in Interim Budget allocations: Nirmala
11 months, 1 week ago

No cuts in Interim Budget allocations: Nirmala

Deccan Chronicle  

New Delhi: Exuding confidence in India’s economic growth, Union finance minister Nirmala Sitharaman on Wednesday said that all the allocations have not been cut under any head in the interim Budget for 2024-25, rather it has either remained the same or gone up in FY25 Budget in the flagship schemes. Meanwhile, the Lok Sabha also passed the Rs 47.66-lakh-crore interim …

Interim Budget 2024 — in campaign mode
11 months, 1 week ago

Interim Budget 2024 — in campaign mode

The Hindu  

Well before Finance Minister Nirmala Sitharaman rose to present the Interim Budget for 2024-25, there were indications as to what its focus would be. That has been true of this year’s Interim Budget as well, which focused on all the “welfare” schemes, in areas varying from housing to food, which have been largely attributed to the Prime Minister. For example, …

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