The new direct tax code or the new income tax bill will not include any new taxes, finance secretary Tuhin Kanta Pandey told Moneycontrol in an interview.The new direct tax code was announced in the Budget 2025-26 by finance minister Nirmala Sitharaman and is set to be introduced in the Budget session of the parliament. … Read more
Tax and Budget 2025: Finance Minister Nirmala Sitharaman made significant announcements that have delighted middle-class taxpayers. The changes include raising the rebate limit from Rs 7 lakh to Rs 12 lakh under the New Tax Regime (NTR). Additionally, Sitharaman made adjustments to the tax slabs, benefiting taxpayers in higher income brackets and giving them more … Read more
Tax savings tools: Finance Minister Nirmala Sitharaman announced several changes that brought cheer to the middle class. From raising the limit of rebate from Rs 7 lakh to Rs 12 lakh under the New Tax Regime (NTR), FM Sitharaman tweaked the tax slabs in a manner that would benefit taxpayers in higher salary brackets as … Read more
Budget 2025 impact: Finance Minister Nirmala Sitharaman introduced minor adjustments to the existing capital gains tax framework after overhauling it in the July 2024 Budget. The tax rates and holding periods for assets have been kept unchanged, determining whether they are subject to long-term capital gains or short-term. Consequently, the rules governing Long Term Capital … Read more
Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old Regime continues to provide tax benefits through various exemptions and deductions. The proposed income tax slabs in the Union Budget 2025 … Read more
Income tax returns: In the Budget 2025, middle-class taxpayers have received some relief. Under the new tax regime announced by Finance Minister Nirmala Sitharaman, individuals earning up to Rs 12 lakh annually will no longer be required to pay any income tax. The exemption limit has been raised, and tax slabs have been adjusted to provide … Read more
Income tax calculations: The Union Budget 2025 raised the income tax exemption threshold to Rs 12 lakh, effectively making incomes up to this amount tax-free. For salaried individuals, this limit increases to Rs 12.75 lakh after factoring in the standard deduction of Rs 75,000 under the new tax regime for FY 2025-26. This has become possible … Read more
An alternative tax regime was introduced by the Union Budget 2020 (“New Tax Regime”). Since then, India has two taxation regimes for individuals. The Government intends to make ‘New Tax Regime’ more and more lucrative to individuals which is evident from the Budgetary proposals over the years. The main tax regime (as existing prior to introduction … Read more
Looking at the favourable bias towards New Tax Regime I had anticipated that the Finance Minister will scrap the Old Tax Regime altogether but instead of doing it in one go she has put the old tax regime on ventilator. Let us understand the how the New Tax Regime will work with the latest amendments. … Read more
With the Union Budget 2025 raising the zero-tax threshold to ₹12 lakh (₹12.75 lakh for salaried individuals), nearly one crore taxpayers will now pay no income tax. This sweeping change, however, comes at a steep cost—₹1 lakh crore in revenue loss for the government. Finfluencer and Wisdom Hatch founder Akshat Shrivastava sees this as a … Read more