The massive jump in the exemption limit - from Rs 7 lakh to Rs 12 lakh - shows the political instincts of this regime are very much intact. The happiest lot is the salaried middle class.
Budget 2025: Tax experts explain how the new income tax changes impact taxpayers across income levels, from Rs 6 lakh to Rs 1 crore, after the fresh proposals in the Union Budget 2025.
With a standard deduction of Rs 75,000 under the new regime, salaried taxpayers earning up to Rs 12.75 lakh annually do not need to pay any tax. But what if you have a higher annual income, say Rs 13 lakh or more? You could still end up paying no tax.
Ravi Agrawal, in a post-Budget interview, pointed out that the income tax payment provisions announced in Budget 2025 not only benefit those who earn Rs 12 lakh per annum, but across all income brackets.
Union Budget 2025: Finance Minister Nirmala Sitharaman said PM Modi was clear about the need for tax relief, with the ministry working on the proposal. She highlighted efforts to simplify direct taxes and reduce the compliance burden for taxpayers.
With a higher tax-free threshold and lower rates, the new tax regime looks more appealing, but does the old regime still hold any advantages?
If the Union Budget was just ₹100, here's how the government would spend it
The YSR Congress Party criticised Andhra Pradesh Chief Minister Chandrababu Naidu for failing to secure additional funding from the Centre. The party highlighted disparities in funding allocation, particularly comparing Andhra Pradesh with Bihar.
Prime Minister Narendra Modi met Finance Minister Nirmala Sitharaman after her Union Budget speech on Saturday and praised her. In a video, PM Modi can be seen walking up to the Finance Minister's seat in Lok Sabha and greeting her.
The Lok Janshakti Party (Ram Vilas) leader's jibe at the opposition came after some of its MPs linked the Bihar-centric announcements in the Union Budget to the assembly polls scheduled to be held Bihar later this year.
The government has earmarked Rs 6,81,210 crore for defence in the new budget, reflecting a 9.53 per cent rise from the Rs 6.22 lakh crore allocated for the ongoing fiscal year.
Donald Trump has consistently pushed for reducing trade barriers, especially on products that the US manufactures, and the high tariff on Harley-Davidson has been a point of contention in the past.
The Union Budget 2025-26 has allocated Rs 7,146.50 crore to the Border Roads Organisation (BRO), marking a 9.74 per cent increase from the Budget Estimates (BE) of 2024-25.
Speaking to India Today TV, former finance minister P Chidambaram criticised the Union Budget 2025, questioning its focus on taxpayers and Bihar while highlighting shortfalls in key sectors and concerns over economic growth projections.
In a big relief for the middle-class, Finance Minister Nirmala Sitharaman announced that taxpayers with salaries up to Rs 12 lakh would not be required to pay tax in the new tax regime.
Former Chief Economic Advisor K V Subramanian predicts GDP growth to exceed 8% by FY26 and consumption to increase by 10% following the budget's personal tax cuts.
Prime Minister Narendra Modi lauded the Union Budget 2025 and said it will put more money in the hands of the public and would be a force-multiplier that would increase investments and lead to growth.
Senior Congress leader and former finance minister P Chidambaram criticised the Union Budget 2025, stating it primarily benefits 3.2 crore taxpaying income tax filers and voters of Bihar.
In an exclusive interview with India Today News Director Rahul Kanwal, Union IT Minister Ashwini Vaishnaw talked about India's AI mission and semiconductor manufacturing plans.
Union Budget 2025: After tax breaks for corporates failed to boost the economy, Finance Minister Nirmala Sitharaman placed a big bet on the middle class with tax sops in Budget 2025-26. This is how the additional Rs 1 lakh crore in the hands of individual taxpayers will boost consumption, help spur corporate investment and increase the government's indirect tax collection.
In an exclusive interview with India Today News Director Rahul Kanwal, Union Commerce and Industry Minister Piyush Goyal discussed Union Budget 2025, big tax relief for the middle-class, economic growth and a slew of issues.
In one of her shortest Budget speeches, Nirmala Sitharaman mentioned the word 'tax' 51 times and 'TDS/TCS' 26 times. 'Taxpayers' was mentioned in the speech 22 times.
Finance Minister Nirmala Sitharaman on Saturday announced that individuals earning up to Rs 12 lakh annually will not have to pay any income tax under the new tax regime.
Bihar Chief Minister Nitish Kumar praised the Union Budget, calling it positive for the state's development.
The Budget proposal to set up a Makhana Board in Bihar is expected to have an electoral impact on at least 30% of the 243 Assembly seats in the Mithilanchal and Seemanchal regions.
The allocated amount is a bit more than the Rs 1,021.83 crore earmarked in 2024-25.
The 2025-26 Budget hikes the tax rebate available to individual taxpayer to Rs 12 lakh from next fiscal, from Rs 7 lakh currently.
One of the key highlights was her announcement that individuals earning up to Rs 12 lakh would not have to pay any income tax. Nirmala Sitharaman also announced changes in the slab structure of the new income tax regime.
Prime Minister Narendra Modi hailed the Union Budget 2025 and said that tax relief given by Finance Minister Nirmala Sitharaman will provide big benefits to middle class and salaried employees.
Salaried individuals with an annual income of up to Rs 12.75 lakh will have zero tax liability under the new tax regime. But does this mean they, along with others with no tax liability, are exempt from filing an income tax return?
Abhishesk Banerjee lashed out at the Centre, claiming that West Bengal was completely ignored in the Union Budget 2025 and alleged that the BJP announced special packages for Bihar, keeping in mind the upcoming elections.
The central government will miss its capital expenditure target by nearly Rs 93,000 crore for FY25.
