[ad_1] In Budget 2025, Finance MinisterĀ Nirmala Sitharaman announced that taxpayers withĀ income upto ā¹12 lakh do not need to pay any income tax. Aside from this,Ā salaried taxpayers will be entitled to take an additional benefit of no tax by virtue of ā¹75,000 standard deduction. Notably, these changes will come into effect from April 1 2025, which…
[ad_1] For decades, Indiaās salaried class viewed themselves as a minorityāsandwiched between the elite and what they believe is the worldās largest population of the āpolitically pampered”. And in most Budgets, they found the discourse to be dominated by farmers, the poor, women and other groups. Which is why the record ā¹1 trillion largesse showered…
[ad_1] In the Union Budget 2025, Finance Minister Nirmala Sitharaman mentioned that the ānil income taxā slab would be raised to ā¹12 lakh; however, it is often misunderstood as a tax exemption or tax deduction. Here’s what it really means. What did FM Nirmala Sitharaman say? āTo taxpayers up to Rs12 lakh of normal income…
[ad_1] Imagine getting a salary bump, only to find that your tax bill eats up mostāif not allāof your raise. While the new tax regime in Budget 2025 promises no tax on incomes up to ā¹12 lakh, it doesnāt necessarily mean that earning a little more is always beneficial. Thankfully, marginal relief has your back,…
[ad_1] For the upcoming budget year, nominal gross domestic product (GDP) has been projected to grow at 10.1% over the half year-based First Advance Estimate (FAE) for the current year, yielding a budgeted GDP denominator of ā¹356.97 trillion for 2025-26. The Second Advance Estimate (SAE) for 2024-25 will soon follow at February-end, and at May-end…
[ad_1] With only two days to go before the deadline to file revised income tax return (ITR) for FY 2023-24 expires, taxpayers can claim tax rebate underĀ section 87A. Notably, the income tax department recently released excel utilities forĀ ITR forms ITR-2 and ITR3Ā to exercise the option to claim rebate u/s 87A. However, you have to manually…
[ad_1] The entire country is eagerly waiting forĀ Budget 2024 wherein Union Finance and Corporate Affairs ministerĀ Nirmala Sitharaman to announce changes inĀ income tax rates to reduce the tax outgo of masses. Changes in tax slabs is something that takes place once in a blue moon. The last time these tax rates were changed was seven years…
