Nirmala Sitharaman announced a major overhaul of the income tax system while outlining the Budget on Saturday. Individuals earning up to ₹12 lakh annually will no longer have to pay any tax under the new income tax regime — with benefit of ₹80,000. Sitharaman also proposed a change to the exemption limits and rejigged the…
Finance minister Nirmala Sitharaman has delivered a realistic and positive punch to keep the economy progressing, especially with a strong push to boost urban consumption, at a very crucial time of challenges globally and domestically. The biggest positive of Budget 2025 is the reduction of taxes for the middle class, which leaves more money in…
In a post-budget interview with Mint, Pandey also said the government’s push for deregulation could see them being implemented as mandatory reforms, which states are required to implement to qualify for a share of the Centre’s 50-year interest-free capex loans. Meanwhile, the 16th Finance Commission, headed by economist Arvind Panagariya, will give guidance on the…
New Delhi: The Union government plans to raise the bar for benchmark reforms for states seeking access to its 50-year interest-free capital expenditure (capex) loans, aiming to drive deregulation and improve ease of doing business—a key focus of the latest budget – said Ajay Seth, secretary at the Department of Economic Affairs (DEA). “As we…
New Delhi: The customs duty rejig announced in the Union budget for FY26 lowers India’s average customs duty rate sharply from 11.65% to 10.66% and sends a positive signal to India’s trading partners like the US, Central Board of Indirect Taxes and Customs (CBIC) Chairperson Sanjay Kumar Agarwal said in a post-budget interview. The comments…
Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal ₹24 lakh annual income will benefit from a tax reduction of ₹1.1 lakh, while, the benefit will be ₹35,000 for those with ₹15 lakh income and ₹70,000 for those with ₹18 lakh annual income.”/> …
New Delhi: The exemption of import duties on components required for making open cells—a key part of LED televisions—has divided India’s nearly-$10-billion TV industry. A section of manufacturers sees the budget announcement as a big boost, but others say the relief will only benefit specific companies, not the entire sector. “The duty abolition will only…
Union Finance Minister Nirmala Sitharaman speaks in the house on August 11, 2025. Photo: Sansad TV via PTI Photo As the Opposition members continued their protest, the Lok Sabha on Monday (August 11, 2025) passed the two crucial Bills pertaining to taxation without any debate. Union Finance Minister Nirmala Sitharaman introduced the Income-Tax (No 2)…
The Union Budget 2025 has declared that in reaching the destination of Viksit Bharat by 2047, reforms will act as fuel and inclusivity will be the guiding spirit. The reforms have focused on labour-intensive sectors and are towards boosting productivity. This is significant as in its growth journey, India directly moved from agriculture to services…
You have presented some substantive issues in the budget, but the minute you say something like a personal income tax cut, that grabs all the headlines. Yes, that is one, and also see normally, tax relief will not be this range, and will also not be simultaneous across the board. You were at two (lakh…
