Finance Secretary Tuhin Kanta Pandey said tax bouyancy of 1.42 is expected in next fiscal, lower than 2 in current fiscal.

Budget 2025 brings cheer to taxpayers! No income tax up to Rs 12 lakh sparks a meme fest on social media. Netizens rejoice and celebrate the tax relief with hilarious reactions.

Finance Minister Sitharaman announced significant tax relief for the middle class, exempting annual incomes up to Rs 12 lakh ...

Under the new regime, the tax liability for individuals earning Rs 12 lakh or Rs 12.75 lakh (for salaried persons) is Rs 60,000, which is completely waived due to the rebate. Hence, the resulting tax ...

In addition to the tax relief, the Finance Minister also introduced reforms to simplify the Tax Deduction at Source (TDS) system.

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...