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No income tax for up to Rs 12 lakh income under the new tax regime as Section 87A tax rebate hiked in Budget 2025 It is a better option to give tax relief through the tax rebate than changing the tax slabs. This is because to get this tax rebate under section 87A you need to file Income Tax Return (ITR)
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Income tax basic exemption limit hiked by Rs 1 lakh in new tax regime in Budget 2025: Check new tax exemption limit A hike in the income tax basic exemption limit means all taxpayers will pay lower taxes
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New income tax slabs in Budget 2025: 30% tax now starts at Rs 24 lakh, 25% tax rate introduced for incomes between Rs 20-Rs 24 lakh The highest tax rate of 30% is applicable from net taxable income above Rs 15 lakh. 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
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TDS limit for interest income of senior citizens doubled from Rs 50,000 in Budget 2025 The limit for TDS for senior citizens is being doubled from Rs 50,000 to Rs 1 lakh. TDS on rent is being increased to 6 lakh rupees
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TCS remittance limited hiked from Rs 7 lakh: Check the new limit announced in Budget 2025 The TCS is applicable to the outward foreign remittance made by students for education purposes, travel purposes, or investment in foreign countries. The new limit will help to avoid taxes and face a liquidity crunch
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FM to introduce to new Income Tax Bill next week: What is it likely to contain? The aim is to simplify tax compliance for taxpayers and make the Income Tax Act easier to understand, enhancing readability and removing duplication of laws
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NRIs selling property in India face a maze of income tax, TDS rules: Simplification urged in Budget 2025 It is hoped that Budget 2025 simplifies these processes and enables overseas bank payments to ease the compliance burden for buyers and sellers, fostering smoother cross-border property deals
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Budget 2025: ITR portal glitches, Income tax notice management; other issues plague e-filing ITR portal; Experts urge FM to look into this
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Three underrated crypto presales to keep an eye on Wall Street Pepe combines meme appeal with serious trading tools, MIND of Pepe leverages AI for market insights, and Solaxy aims to enhance Solana's scalability with layer-2 technology
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Next big crypto presales: Three tokens set to thrive in 2025 Wall Street Pepe has raised $63 million, Solaxy is addressing Solanas congestion issues with $15 million raised, and MIND of Pepe leverages AI to predict crypto trends. Each project offers unique features and community benefits