With the new tax slabs, the standard deduction of ₹75,000, over and above the ₹12 lakh limit under the new tax regime, furthers the agenda of driving up savings, investments and consumption.
The old tax regime, which remains unchanged in the 2025 Budget, allows taxpayers to claim various exemptions such as House Rent Allowance (HRA), deductions under Section 80C (like for life insurance ...
DK Shivakumar argued that the income tax relief for individuals earning below 12 lakh will benefit only a few people, and that the tax bracket should have been eliminated entirely.
Union FM Nirmala Sitharaman unveiled plans to develop 50 tourist destinations, boosting the tourism budget to ₹2,541.06 crore, focusing on employment-led growth.