Union Budget 2025

Income Tax Bill: ‘No warrant, no notice, this is surveillance’, Cong slams govt on ‘unrestricted access’ to emails, social media posts

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Income Tax Bill: ‘No warrant, no notice, this is surveillance’, Cong slams govt on ‘unrestricted access’ to emails, social media posts

The recently introduced Income Tax Bill 2025 has sparked significant controversy due to its provisions granting tax officials access to citizens’ digital and financial spaces. Introduced in Parliament by Finance Minister Nirmala Sitharaman on February 13, the bill has been criticised for allowing tax authorities to access emails, social media accounts, bank details, and trading … Read more

ITR filing 2025: Not Rs 12.75 lakh, this is the tax-free income for AY2025-26; check details

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ITR filing 2025: Not Rs 12.75 lakh, this is the tax-free income for AY2025-26; check details

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

Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

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Section 115BAC on New Tax Regime is Section 202 under Income Tax Bill 2025; check details 

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

CBDT tax calculator: If your annual salary is Rs 15 lakh, which tax regime should you opt for – new tax or old tax? 

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CBDT tax calculator: If your annual salary is Rs 15 lakh, which tax regime should you opt for – new tax or old tax? 

Tax calculator 2025: The Income Tax Department has introduced a user-friendly tool for taxpayers to compare taxes under the New Tax Regime for the financial years 2024-25 and 2025-26 (post budget proposal). This tool allows individuals to determine which tax regime is more advantageous based on their income and deductions. Access the official Income Tax … Read more

Taxes after Budget 2025: How much tax will an individual pay on Rs 36 lakh annual salary if he gets a hike of Rs 1 lakh?

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Taxes after Budget 2025: How much tax will an individual pay on Rs 36 lakh annual salary if he gets a hike of Rs 1 lakh?

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

From athleisure to business shoes: Leather Fashion Show highlights 2025 trends

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From athleisure to business shoes: Leather Fashion Show highlights 2025 trends

The Indian Finished Leather Manufacturers and Exporters Association (IFLMEA) hosted the 38th Leather Fashion Show at ITC Grand Chola, Chennai. | Photo Credit: R. Ravindran In this year’s Union Budget, Finance Minister Nirmala Sitharaman announced a focus product scheme for the footwear and leather sectors. The Hindu reported that this will generate a turnover of … Read more

Income tax relief: Rs 12.1 lakh vs Rs 12.5 lakh vs Rs 12.75 lakh – how marginal income tax will be calculated? 

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Income tax relief: Rs 12.1 lakh vs Rs 12.5 lakh vs Rs 12.75 lakh – how marginal income tax will be calculated? 

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: Dear Old Tax regime – is it time to say goodbye?

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Union Budget 2025: Dear Old Tax regime – is it time to say goodbye?

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

Union Budget 2025-26: Himachal Pradesh and Punjab CM give a thumbs down

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Union Budget 2025-26: Himachal Pradesh and Punjab CM give a thumbs down

There’s nothing for the farmers and youth of Punjab, says CM Bhagwant Mann. | Photo Credit: ANI The Chief Ministers of the Congress-ruled Himachal Pradesh and the Aam Aadmi Party (AAP)-ruled Punjab on Saturday described the Union Budget 2025-26 as disappointing, stating that it ignores the welfare of these States. Himachal Pradesh Chief Minister Sukhvinder Singh … Read more

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

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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