What Budget 2025 means for salaried taxpayers, senior citizens and investors
Tax measures announced in Budget 2025 will have a wide-ranging impact on individual taxpayers across income brackets, as also senior citizens, students and outbound travellers.
Budget 2025 for the middle-class: The hits and the misses
The middle-class has a lot of cheer for, as the tax savings under the new regime will be significant, but there are some nitty-gritties that the Budget could have taken care of, to make their lives easier, say tax experts.
Volkswagen sues India to quash 'enormous' $1.4 billion tax demand, legal filing shows
In the biggest ever import tax demand, India in September slapped a $1.4 billion tax notice on Volkswagen for using a strategy to break down imports of some VW, Skoda and Audi cars into many individual parts to pay a lower duty.
How FM Nirmala Sitharaman's Budget will help the middle class
Overall, the Budget focuses on providing significant benefits to the middle class by reducing the tax rates and thereby increasing the take home pay for individuals. It is clear that the Budget is aiming to further promote adoption of the new regime.
No tax on GIFT City Ulip maturity proceeds even if premiums exceed Rs 2.5 lakh per year
Regular Ulips’ maturity proceeds attract tax if their annual premiums exceed Rs 2.5 lakh. However, Budget 2025 has granted a concession to Ulips sold by insurance companies’ GIFT city branches.
Tax-to-GDP Ratio: Strategic economic blueprint to tax proposals
Tax proposals spanning rate changes, process simplification and the imminent introduction of a new income tax bill to overhaul the system set the stage for creating a robust fiscal base.
Boost to shareholders as budget doubles TDS threshold for dividend income to Rs 10,000
At present, companies distributing dividends are required to deduct Tax Deducted at Source (TDS) at a rate of 10% on dividends exceeding Rs 5,000 in a financial year.
Selecting the beneficial tax regime: Without HRA, old regime makes little sense; new regime scores across income slabs
The new, simplified tax regime is now a clear winner in the case of most tax slabs, show Deloitte calculations. In case of annual income of over Rs 24 lakh, the old regime will result in higher savings, only if you claim deductions worth more than Rs 8 lakh.
Hike in basic exemption limit, rejig of tax slabs mean big savings for taxpayers under the new regime
Tax-payers across income brackets will benefit from the increase in basic exemption limit from Rs 3 lakh to Rs 4 lakh and wider tax slabs under the new, simplified tax regime. The enhanced tax rebate limit will benefit those with incomes of up to Rs 12 lakh.
NPS Vatsalya now eligible for tax deduction of Rs 50,000 under old regime
Sitharaman announced that NPS Vatsalya will now be treated at par with regular NPS accounts
Budget pegs FY26 gross tax collection at Rs 42.7 lakh crore, up 11%
The projected increase aligns with the government's strategy to enhance revenue generation while maintaining fiscal discipline.
Centre plans to make disclosure of transactions mandatory for crypto exchanges
The government has now proposed to insert section 285BAA in the Act, which make it compulsory to furnish transaction information of crypto assets.
Cat 1 and Cat 2 AIFs investing in infra to get certainty on taxes
"To promote funding from sovereign wealth funds and pension funds to the infrastructure sector, I propose to extend the date of investment to five more years, she added."
Big boost to the middle class: No tax on incomes up to Rs 12 lakh under the new regime, says FM
Budget 2025 also rejigged tax slabs and rates under the new tax regime and increased the basic exemption limit from Rs 3 lakh to Rs 4 lakh. However, as expected, old tax regime slabs and rates will remain unchanged.
Income tax expectations: Will Budget 2025 raise the basic exemption limit, standard deduction under the new regime?
Finance Minister Nirmala Sitharaman may not scrap the old tax regime, but tax sops, if any, are likely to be announced only under the new tax regime.
Strategic tax reforms in Budget 2025 for sustainable economic growth
The Union Budget 2025 is expected to focus on tax reforms, fiscal discipline, and growth stimulation. Key measures include tax simplification, incentives for GCCs and green energy, and improved dispute resolution, aiming to foster innovation, investment, and economic sustainability
Will Budget 2025 hike the basic exemption limit to Rs 10 lakh, raise standard deduction to Rs 1 lakh?
The old tax regime might not be scrapped, but it is unlikely that any tax concessions will be announced under this structure. However, there is scope to make the new tax regime more taxpayer friendly, say tax experts.
Budget must strengthen tax dispute resolution schemes to instil confidence
The logjam of tax disputes is a critical issue that the Budget needs to address, particularly at the Commissioner of Income Tax (Appeals) level with over half a million cases pending and Rs 14.2 lakh crore at stake at this level itself. Also, there are more than 350 cases pending resolution at the Board of Advance ruling and over 800 pending Advance pricing agreement cases
Budget 2025: Tax rate changes, tweaks to exemptions and deductions can reduce financial burden on individuals
The focus of the Union Budget 2025 will likely remain on continuing the momentum of economic reforms and maintaining the fiscal deficit within the prescribed norms.
Time for tax clarity in Category III Alternative Investment Funds
Category III AIFs face unclear tax regimes, causing operational and taxation challenges. Simplifying taxation, possibly mirroring mutual funds’ system, could boost growth, ensuring clear rules for investors, single-level taxation, and more efficient management of funds.
Old vs new income tax regimes: How to choose the most beneficial tax structure
Budget 2024 ushered in sweeping changes in the new tax regime, rejigging income tax slabs and hiking the standard deduction to Rs 75,000 while leaving the old tax regime untouched. While the former is clearly being favoured, some taxpayers still find the old regime more beneficial.
A tax proposal to save Rs 1 lakh for every salaried tax payer without abandoning fiscal prudence
Data shows 88 percent of salaried tax payers earn less than Rs 15 lakh a year and contribute a mere 20 percent of tax collections. Lifting the tax threshold to Rs 15 lakh and levying a tax of 25 percent and 30 percent on the next two slabs can release up to Rs 2.4 lakh crore into the hands of salaried taxpayers. A lot of this tax relief will be recouped by the government in the form of GST accruing from higher consumption. It’s a win-win idea.
Time ripe for streamlining withholding tax in the budget
The current withholding provisions provide for seven rates. Having multiple rates creates confusion for taxpayers and increases compliance costs and even leads to litigation if TDS is deducted under certain incorrect provisions. The Government can consider rationalising the rates under four broad categories
MC-Deloitte CEO survey: Over 44% CEOs want Budget 2025 to reduce income tax slab rates in both old and new regimes
Close to 13 percent of the CEOs polled said they were expecting a stable regime, with no changes in either of the income tax regimes.
Driving India’s circular economy through tax rebates and sustainability initiatives in Budget 2025
India’s transition to a circular economy is vital for sustainable growth. Budget 2025 can accelerate this shift through tax incentives, waste-to-energy investments, and expanded PLI schemes, driving innovation, job creation, and environmental benefits while enhancing economic resilience.
