Latest News for: tax-exempt

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Income tax exemption over the years: From Rs 1 lakh in 2005 to Rs 12 lakh in 2025

The Times of India 01 Feb 2025
... a tax relief of Rs 80,000. 117821340How tax exemption limits have evolved over the yearsThe tax exemption threshold has steadily increased, aligning with economic growth and inflation adjustments.2005.
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‘What if…’: Shashi Tharoor on Nirmala Sitharaman's tax exemption announcement

Hindustan Times 01 Feb 2025
Taking a dig at the Union Budget presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Saturday, Congress MP Shashi Tharoor said that to benefit from tax exemption, one actually needs an income source.
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Big leap in tax exemption limit: Modi govt breaks away from UPA's style of offering ...

International Business Times 01 Feb 2025
The jump in income tax exemption limit, under the new tax regime, from a salary of Rs 7 lakh per annum to Rs 12 per annum, is the biggest recorded since 2005 of the UPA era ... Big leap in tax exemption limit.
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Middle Class Always In PM Modi's Heart: Amit Shah On Tax Exemption

NDTV 01 Feb 2025
Union home minister Amit Shah, applauding the tax cuts in the Union budget today, said the middle class is always in PM Modi's heart ... .
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Modi 3.0's Tax Exemption Limit Is Biggest Ever Since 2005

NDTV 01 Feb 2025
The Union Budget 2025-26 presented by Nirmala Sitharaman declared that there will be no income tax payable up to a total income of Rs 12 lakh ... .
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Big Leap In Tax Exemption Limit: Modi Govt Breaks Away From UPA’S Style Of Offering ...

MENA FN 01 Feb 2025
(MENAFN - IANS) New Delhi, Feb 1 (IANS) The Narendra Modi government 3.0 has continued the focus on income tax relief for the salaried class initiated by the NDA government in 2014, breaking away ... .
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Union Budget 2025: Income tax exemption will help increase purchasing power of people, says Pemmasani ...

The Hindu 01 Feb 2025
More purchasing power will help increase demand and production of goods and services, creating employment opportunities, says the Union Minister ....
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Union Budget 2025: Income tax basic exemption limit hiked by Rs 1 lakh in new tax regime; check details

The Times of India 01 Feb 2025
... to four years.Union Budget 2025 full coverageWhat is the current income tax law on basic exemption limit?The income tax exemption limit varies based on the chosen tax regime for a financial year.
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New vs old income tax regime after Budget 2025: Post income tax slab changes, which tax regime is better for salaried middle class taxpayers?

The Times of India 01 Feb 2025
... to the new income tax regime or does the old income tax regime with higher tax exemptions and deductions still make sense? TOI answers this important question for you.New Vs Old Income Tax Regime.
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'A dream budget for middle Class': Maharashtra CM Devendra Fadnavis applauds Union Budget

The Times of India 01 Feb 2025
'Income Tax exemption slab has been modified and income tax exemption has been raised up to Rs 12 Lakhs.
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Amit Shah hails 'visionary' budget, says 'middle class always in PM Modi's heart'

The Times of India 01 Feb 2025
... would 'go a long way in enhancing the financial well-being of the middle class.'The budget, presented by finance minister Sitharaman in Parliament earlier in the day, includes a major tax relief.
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2025 Union Budget: Full list of what is cheaper, what will burn your pockets

The Siasat Daily 01 Feb 2025
... be exempt from IT under the new income tax regime ... However, the Budget has not made any changes in tax slabs under the old income tax regime, which includes a host of tax exemptions and deductions.
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Uddhav Sena hails Union Budget as 'victory for middle class' but with a catch

The Times of India 01 Feb 2025
The exemption is applicable only if taxpayers claim deductions under specific provisions of the Income Tax Act, such as the Rs 1.5 lakh exemption under Section 80CCC and another Rs 1.5 lakh exemption ...
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Middle class jackpot! Who saves the most under the new tax regime?

Hindustan Times 01 Feb 2025
This system, introduced in 2020, has slightly lower tax rates but does not allow major exemptions. Taxpayers can also opt for the old tax regime that allows exemptions for housing rentals or loans, and insurance premiums and other such expenses.

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