1 day ago · Despite income tax rate cuts, the Centre’s gross income tax receipts for 2025-26 is budgeted at Rs 14.38 lakh crore, which is 21.1% higher than the budget estimate of Rs 11.87 crore for 2024-25. Even for 2024-25, the revised estimate of gross income tax revenues at Rs 12.57 lakh crore is higher than the budgeted Rs 11.87 lakh crore.

1 day ago · Income tax slab changes: The new tax regime is the default tax regime. The highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh currently. However, the new tax regime offers limited deductions to the taxpayer. Given below are the income tax slabs proposed for the upcoming financial year 2025-26 and the current financial year 2024-25.

1 day ago · Budget 2025: Modi’s mega gift to Bihar. Budget 2025: PM Modi lauds ‘people’s budget’ Nothing for middle class in the Budget: Opposition MPs. Modi’s gift to middle class; no income tax up to Rs 12 lakh. Budget 2025: Nuclear energy mission for 100 GW by 2047. Budget 2025: Major agri reforms & pulse mission announced

1 day ago · Union Budget Speech Live Updates: Finance Minister Nirmala Sitharaman today presented the Union Budget for a record eighth time and announced a slew of measures, including big projects for Bihar, where Assembly polls will be held later this year. She announced relief for MSMEs, extension of Kisan Credit Cards and zero income tax for people earning up to Rs 12 lakh. Creating medical seats ...

1 day ago · Indian Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the federal budget in the Parliament in New Delhi, India, Saturday, Feb. 1, 2025.

1 day ago · Union Budget 2025: Finance Minister Nirmala Sitharaman, in her 2025-26 Budget, introduced significant tax reforms aimed at easing the tax burden on the middle class and simplifying income tax laws. The reforms include higher tax thresholds, an extended filing window for updated returns, and increased relief for salaried taxpayers and senior citizens.

1 day ago · The government announced a "nil tax" slab which would be available up to Rs 12 lakh (Rs 12.75 lakh for salaried taxpayers with a standard deduction of Rs 75,000). The new structure aims to ...

2 days ago · India Budget 2025: Required separate deductions in the new tax regime According to IRDAI, insurance penetration in India witnessed a drop to 3.7%, as compared to 4% in FY23 and 4.2% in FY22.

3 days ago · Budget 2025 Income Tax Expectations Live: In the recent years, several directional changes have been introduced in the personal tax landscape. ... “Budget 2025-26 is a pivotal moment for India ...

Jan 4, 2025 · Finance Minister Nirmala Sitharaman will be presenting her 8th Union Budget on February 1. Expectations include tax reforms, fiscal consolidation, and growth-driven spending amidst economic challenges. Here's a comprehensive FAQ to the upcoming budget, its key expectations, and the current state.