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60%, 70% penal income tax payable when filing updated income tax return in 3rd, 4th year from end of AY: Budget 2025 Additional taxes of 60% apply if filed after 24 months, and 70% if filed after 36 months from the assessment year end. This aims to report omitted incomes while imposing higher penalties for delayed submissions

Big change in this tax free perquisite of a salaried employee in Budget 2025

New income tax calculation after Budget: How much tax will salaried save on incomes of Rs 12.75 lakh, Rs 15 lakh, Rs 20 lakh, Rs 25 lakh under new tax regime It is assumed that he/she claims a standard deduction of Rs 75,000 under the new tax regime

TDS limit for interest income from bank FD hiked from Rs 40,000 in Budget 2025: Check details TDS is deducted by banks on interest exceeding specified limits, with current rules imposing a 10% rate if PAN is available and 20% if not

Jewelleries to get cheaper as customs duty reduced on jewellery and parts: Budget 2025 Experts say this will bost jewellery consumption in India. The customs tariff on Platinum Findings has been reduced to 5% from earlier 25%. Read below to know more

How to pay zero tax in new tax regime: 2 deductions salaried taxpayers can claim to reduce taxable income to Rs.12 lakh There is no hike in the standard deduction limit in the Budget 2025

TDS rules relaxed for lottery, these other incomes: Budget 2025

Deadline to file updated tax return extended in Budget 2025

Income tax rules for house property simplified in Budget 2025: How it will benefit taxpayers with 2 houses The deemed calculation of house will apply only if the taxpayer has a third house