The newly introduced Income Tax Bill 2025 aims to simplify the existing provisions of the Income-Tax Act, of 1961. The provisions of the New Tax Regime outlined in Section 115BAC of the Income-Tax Act, 1961 will be moved to Section 202 in the new Income-Tax Bill 2025, effective from April 1, 2026. The bill includes … Read more
Tax-Budget 2025: During the presentation of the Union Budget 2025-26 in Parliament on February 1, Saturday, Union Finance Minister Nirmala Sitharaman introduced several measures. One of the key proposals in the new tax regime is the complete exemption for individuals earning up to Rs 12 lakh annually. This move aims to provide relief to the middle-class … Read more
This budget is more than a declaration of intent-it’s one with heart, mind, and soul that drives India forward with purpose. It’s anchored by four key engines-consumption, investment, simplification, and innovation-each aimed at driving inclusive development. The budget packs in more proposals and greater diversity than ever before, with a simplified tax regime, which can … Read more
As Finance Minister Nirmala Sitharaman rose to present the Union Budget 2025, she delivered a decisive announcement that echoed across households nationwide — no income tax payable for individuals earning up to ₹12 lakh under the new regime. The declaration sparked immediate excitement, positioning Budget 2025 as a financial game-changer for the middle class. However, … Read more
Budget expectations: On February 1, 2025, Union Budget will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha. Income taxpayers are expecting significant tax breaks. The taxpayers may expect some big changes as PM Narendra Modi and President Draupadi Murmu hinted at some major shakeup. Ahead of the Budget 2025, President Draupadi Murmu suggested … Read more
Finance Minister Nirmala Sitharaman didn’t mince words when addressing middle-class taxpayers. Acknowledging their struggles, she outlined tax tweaks in last Budget aimed at putting more money in their pockets—without breaking the government’s bank. “I respect the issue of giving relief to the middle class. I wish to do more, but there are limitations in taxation. … Read more
Finance Minister Nirmala Sitharaman faced a blunt plea for middle-class relief when a social media user tagged her calling for help. Tushar Sharma, a user on X, voiced a sentiment many are feeling, posting: “I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it’s … Read more