Presenting the budget in Lok Sabha, the Finance Minister said, "The annual limit of Rs 2.40 lakh for TDS on rent is being increased to Rs 6 lakh. This will reduce the number of transactions liable to ...

The FM also informed that taxpayers with income up to Rs 12 lakh will not have to pay any tax. However, this rebate is only applicable on basic income, excluding special income such as capital gains.

India's Union Budget 2025-2026 is designed to boost short-term consumption, according to an official of LuLu <a target=_blank href= ...

The threshold to collect tax at source on remittances under RBI’s liberalised remittance scheme (LRS) is proposed to be increased from ₹7 lakh to ₹10 lakh.

Sitharaman also said that the annual limit on rent has been raised to 6 lakh for TDS for senior citizens during her Budget ...

Manoj Purohit, Partner at BDO India’s Tax and Regulatory Services, commented that this change addresses a long-standing need ...

Finance Minister Nirmala Sitharaman on Friday proposed to double the limit for Tax Deduction at Source (TDS) on interest income for senior citizens to Rs 1 lakh, and also increase the threshold to Rs ...

Highlights: Union Finance Minister Nirmala Sitharaman on Saturday announced significant income tax cuts for the middle class ...

The Budget speech had something for everyone, with significant tax relief for the middle class and senior citizens.

In a huge relief to the middle class, Union Finance Minister Nirmala Sitharaman on Saturday announced an increased income tax exemption for people with income up to Rs 12 lakh per annum.Presenting the ...

Finance Minister Nirmala Sitharaman reveals income tax cuts for the middle class, raising exemption thresholds and benefiting ...