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: 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

Effects of Budget 2025: Comparing benefits of Old and New Tax Regimes for salaried taxpayers

Effects of Budget 2025: Comparing benefits of Old and New Tax Regimes for salaried taxpayers

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

Union Budget 2025: New vs Old Tax regime — how tax savings will differ with new tax brackets

Union Budget 2025: New vs Old Tax regime — how tax savings will differ with new tax brackets

Union Budget 2025: In the Union Budget 2025, Finance Minister Nirmala Sitharaman revealed an increase in the basic tax exemption limit in the new tax regime. The limit has been raised from Rs 3 lakh to Rs 4 lakh, providing a significant benefit to a large portion of salaried taxpayers. With no income tax burden … Read more

‘No tax on Rs 5 cr income vs Rs 8L tax…’ Finfluencer highlights plight of salaried taxpayers

‘No tax on Rs 5 cr income vs Rs 8L tax…’ Finfluencer highlights plight of salaried taxpayers

Leading up to the Budget 2025 presentation on February 1, there has been a growing concern among experts and taxpayers regarding the disparities in taxation between farmers and salaried individuals. Despite the fact that the agricultural sector employs nearly 50% of the population, its contribution to GDP is only 17%, highlighting a significant gap between … Read more

ITR 2025: How to decide which tax regime will be beneficial for you? Here’s the maths

ITR 2025: How to decide which tax regime will be beneficial for you? Here’s the maths

Tax calculations: The Union Budget 2024 has introduced a new set of tax slabs for the new tax regime to provide more tax relief compared to the previous tax system. Individuals may wonder how to determine which tax regime is more advantageous for them. The decision will depend on the specific deductions that each taxpayer can … Read more

Tax Planning: What strategies to adopt in 2025 to manage tax outgo

Tax Planning: What strategies to adopt in 2025 to manage tax outgo

Tax planning is a crucial component of personal finance, enabling taxpayers to minimize liabilities while complying with legal obligations. With significant changes introduced by the recent Finance (No. 2) Act 2024, understanding how to optimize tax planning for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) is essential. In this article, we will discuss effective … Read more

Union Budget 2024: What all can FM Sitharaman offer on the income tax front for taxpayers

Union Budget 2024: What all can FM Sitharaman offer on the income tax front for taxpayers

Budget 2024: Finance Minister Nirmala Sitharaman will be presenting the Union Budget for 2024-25 later this month. Since the beginning of this year, taxpayers have been expecting some relief and concession on the tax front. But were disappointed in the Interim Budget as the finance minister proposed to retain the same tax rates for both … Read more

To beat the last minute rush, some taxpayers start filing ITRs early

To beat the last minute rush, some taxpayers start filing ITRs early

To beat the last minute rush, at least some taxpayers have started filing their income tax returns for assessment year 2024-25 after the Central Board of Direct Taxes (CBDT) enabled functionalities for commonly used income tax returns from April 1 this year. According to data with the income tax department, as many as 119,000 income … Read more