ITR filing 2025: The NDA government 3.0 introduced a major income tax relief for the salaried class in the Union Budget 2025. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced that individuals will not have to pay any income tax on total earnings up to Rs 12 lakh. This translates to an average monthly … Read more
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
Union Finance Minister Nirmala Sitharaman will present the new Income Tax Bill 2025 in the Lok Sabha today. This bill, designed to make tax regulations more accessible to the general public, will replace the existing Income Tax Act of 1961. The bill will then be referred to the Parliamentary Standing Committee on Finance, which will … Read more
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 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
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
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
Income Tax-Budget 2025: In the 2025 Union Budget, Finance Minister Nirmala Sitharaman provided much-needed relief to the middle class by introducing a significant update to the income tax slabs in the new tax regime. As per the revised structure, individuals with yearly earnings not exceeding Rs 12 lakh will be relieved from paying income tax, … Read more
Budget 2025: Union Finance Minister Nirmala Sitharaman is scheduled to deliver her eighth Union Budget on February 1, 2025. Throughout her tenure, FM Sitharaman has implemented significant reforms in a bid to benefit taxpayers, corporate entities, farmers, and other sectors. The forthcoming Union Budget is expected to introduce measures to boost dwindling economic growth and … Read more