Budget 2025

T.N. allocated funds for Samagra Shiksha from its own resources to compensate for dues from Centre: Thangam Thennarasu

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T.N. allocated funds for Samagra Shiksha from its own resources to compensate for dues from Centre: Thangam Thennarasu

Tamil Nadu Finance Minister Thangam Thennarasu presents the 2025-26 Budget | Photo Credit: Special Arrangement Prioritising the welfare of schoolchildren, Tamil Nadu Finance Minister Thangam Thennarasu on Friday (March 14, 2025) said the State government has allocated funds from its exchequer to compensate for ₹2,152 crore funds due from the Centre to the State under … Read more

ITR filing 2025: Taxpayers can file updated returns for FY22, FY23 before March 31

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ITR filing 2025: Taxpayers can file updated returns for FY22, FY23 before March 31

ITR filing: Taxpayers have until March 31 to update their income tax returns for the last two financial years, allowing them to correct any mistakes or omissions. This opportunity, introduced by the Finance Ministry in the Finance Act 2022, is available to those who wish to rectify their returns within two years from the end of … Read more

A.P. Budget figures do not add up, says Buggana Rajendranath Reddy

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A.P. Budget figures do not add up, says Buggana Rajendranath Reddy

 The Budget booklet is colourful, but it lacks clarity content-wise, says YSRCP leader Buggana Rajendranath Reddy. | Photo Credit: File Photo Terming the Andhra Pradesh Budget for 2025-26 financial year as a jugglery of figures, former Finance Minister and YSR Congress Party (YSRCP) leader Buggana Rajendranath Reddy has said the figures do not add up … Read more

Senior Citizen Savings Scheme taxation: How much tax will senior citizens pay after Budget 2025?

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Senior Citizen Savings Scheme taxation: How much tax will senior citizens pay after Budget 2025?

The Senior Citizens Savings Scheme (SCSS) is designed specifically for elderly individuals residing in India. This scheme provides a reliable source of income along with top-notch security and tax advantages. Eligible senior citizens residing in India have the option to invest a lump sum amount in the scheme either individually or jointly, in order to … Read more

Tax relief: You’ll get rebate even if capital gains push your total income more than Rs 12.75 lakh, points out Finance Bill, 2025

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Tax relief: You’ll get rebate even if capital gains push your total income more than Rs 12.75 lakh, points out Finance Bill, 2025

In Budget 2025, Finance Minister Nirmala Sitharaman unveiled significant income tax savings, giving taxpayers more funds and introducing modifications to the way they compute their obligations. A noteworthy point is that individuals with earnings up to Rs 12 lakh are exempt from paying income tax in the updated taxation system. During her speech, the Finance … Read more

Hike in TDS threshold in Budget 2025: How TDS is calculated on fixed deposits?

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Hike in TDS threshold in Budget 2025: How TDS is calculated on fixed deposits?

Finance Minister Nirmala Sitharaman in Budget 2025 introduced a revised threshold for TDS compliance for individuals, senior citizens, and companies. This adjustment aims to provide taxpayers with a means to reduce the amount of tax deducted from their income, while also assisting companies in simplifying their TDS compliance process. The proposed threshold has been increased … Read more

Zero tax till Rs 12 lakh: What’s difference between rebate under Section 87A, exemptions & deductions?

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Zero tax till Rs 12 lakh: What’s difference between rebate under Section 87A, exemptions & deductions?

Budget 2025: The recent announcement of a Nil tax rate for individuals with taxable income of up to Rs 12 lakh in the fiscal year 2025-26 has been met with enthusiasm by those within this income bracket. Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to guarantee … Read more

Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

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Tax calculations: Taxable income vs gross income vs net income – know how to calculate your actual tax outgo

Tax calculation: In Budget 2025, the Finance Minister announced that no income tax is payable up to an annual income of Rs 12 lakh, providing a tax rebate for individuals earning up to this amount. The tax slabs for different income brackets have been updated, with those earning between Rs 4-7 lakh now required to pay … Read more

Budget 2025: Why the rebate under Section 87A is groundbreaker for taxpayers. Here’s what it means

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Budget 2025: Why the rebate under Section 87A is groundbreaker for taxpayers. Here’s what it means

Budget 2025: Last week, Finance Minister Nirmala Sitharaman announced that there will be no taxes on normal income up to Rs 12 lakh starting from the financial year 2025-26 under the New Tax Regime. The Budget 2025 proposed that the tax-free income limit for salaried employees in the new regime will increase to Rs 12.75 … Read more

Tax-Budget 2025: Tweaks in New Tax Regime – How much more you will earn in FY26 vs FY25 if your salary is Rs 12 lakh/year?

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Tax-Budget 2025: Tweaks in New Tax Regime – How much more you will earn in FY26 vs FY25 if your salary is Rs 12 lakh/year?

Tax Budget 2025: The introduction of Budget 2025 has resulted in significant changes that align with the expectations of the middle class. Notably, the Finance Minister has raised the tax-free income threshold to Rs 12 lakh, translating to Rs 12.75 lakh for salaried individuals after considering the standard deduction. A key highlight this Budget for middle-class … Read more