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There may be concessions for the middle class, which is pinning hope on a reduction in income tax rates, along with a hike in standard deduction. Under the old tax regime, the basic income exemption limit is set at Rs 2.50 lakh, while in the new tax regime, the limit is Rs 3 lakh. With…
Budget 2025 expectations: In the July 2024 budget, Rs 16,575 crore were allocated for RoDTEP. (AI image) Budget 2025 expectations: In the upcoming Union Budget 2025-2026, finance minister Nirmala Sitharaman is expected to increase fund allocations for two major tax remission schemes for exporters by almost 10 per cent each, according to sources familiar with…
Budget 2025 income tax expectations: The changes involve simplifying the language and rationalizing information by using formulas and tables. (AI image) Budget 2025 expectations: India’s government plans to simplify its income tax filing rules to make it less tedious for taxpayers to comply with the law and help cut down on disputes that have ballooned…
