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
Zerodha co-founder Nithin Kamath has a word of caution ahead of Union Budget 2025-26, reminding traders that market volatility is inevitable. With the budget scheduled for February 1, Kamath urged investors to exercise restraint. Trading will be active on Saturday. “So, the budget day is tomorrow, and yes, there is trading on a Saturday. Markets … Read more
Venture capitalist Avirat Bhatnagar stirred a debate with his recent LinkedIn post, offering a stark classification of India’s wealth tiers: ₹10 lakh: Middle class ₹1 crore: Rich ₹10 crore: High Net Worth Individual (HNI) ₹100 crore: Wealthy ₹1,000 crore: Generational wealth While this framework may appear straightforward, responses from industry voices suggest that defining wealth … Read more
With barely a week left for Budget 2025, the finance ministry has officially introduced the Unified Pension Scheme (UPS) as an alternative for central government employees enrolled in the National Pension System (NPS). The government has specified that the Unified Pension Scheme (UPS) will now be available for Central Government employees who are currently participating … Read more
The State Bank of India (SBI), in its pre-budget report ‘Prelude to Union Budget 2025-26’, has recommended a flat 15% tax on interest income from term deposits across all maturities, a shift from the current slab-based system. The proposal aims to align deposit taxation with equities and stabilize bank liquidity but risks an annual revenue … Read more
Wisdom Hatch founder Akshat Shrivastava has called for an urgent reevaluation of India’s tax system. In a post on X, Shrivastava argues that as salaries fail to keep pace with inflation, individuals paying direct taxes should receive a much-needed tax break. “With no substantial increase in salary, higher taxation leaves people with no discretionary income … Read more
Budget expectations: The upcoming Union Budget for 2025, scheduled to be announced on February 1, is anticipated to bring forth reforms to bolster the expansion and reach of the insurance industry in India. Given the sector’s upward trajectory in recent times, industry experts are optimistic about initiatives that could promote financial inclusivity and stability. Insurers … Read more
The finance ministry could take forward further simplification and rationalisation of the tax deducted at source regime in the Union Budget 2025-26 while a more comprehensive revamp of the Income Tax Act, 1961, could take longer. According to sources, the Budget is likely to announce further streamlining of TDS rates with a more simplified slab … Read more
Budget expectations: With the Union Budget 2025 less than three weeks away, TV Mohandas Pai, Chairman of Aarin Capital and former CFO of Infosys, said that the government should think about offering income tax relief to the middle class and simplify the existing taxation system. In an interview with CNBC-TV18, Pai said the government should think … Read more
Budget expectations: Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025, a highly anticipated event for taxpayers nationwide. The segment on income tax is of particular interest, as individuals eagerly await any potential changes that could offer relief. Speculation for this year’s budget centers around possible modifications to tax … Read more