Finance Minister Nirmala Sitharaman is set to present her second budget after the 2024 general elections, focusing on India's transition to a "Viksit Bharat" in the "Amrit Kaal."
Key priorities include employment generation, skill development, and relief for those hit by inflation, with the broader goal of boosting GDP growth. Taxpayers, as always, hope for lower rates and concessions to increase disposable income. This could encourage savings, investments, and spending, thereby driving economic growth. With these expectations in mind, here are some potential directions for the Budget 2025 proposals from an individual tax perspective.
Towards a unified tax regime
For the past five years, two tax regimes have run in parallel: the old tax regime with regular income slabs and deductions or exemptions, and the new regime with wider slabs and lower rates but no exemptions. Taxpayers could choose either. The objective of the new regime in the Budget 2020 was to simplify taxes. Subsequently, the government made several changes to the new tax regime to make it more attractive.
Diese Geschichte stammt aus der December 24, 2024-Ausgabe von Mint New Delhi.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 24, 2024-Ausgabe von Mint New Delhi.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Inflation targeting: It should not constrain Indian manufacturing
Monetary policymakers should analyse the price dynamics of the entire basket of items that make up India's national income
We could expect East Asia to spring some surprises in 2025
China, Hong Kong and Vietnam will be under watch for a reason
Full of sound and fury: What the Bard may say of 2024
From central bank actions to Trump's ideas, there was plenty that inspires a Shakespearean look-back
Trump's tariffs will not eliminate the dollar's exorbitant privilege
Exporters to the US may want to shift trade into other currencies but the dollar won't be dethroned
AP split leaves state-backed bondholders high and dry
Investors await payments as Andhra and Telangana dispute AP power bonds post-bifurcation
We must approach tech transformations with due care
How we deal with technology is getting highly complex. It's the reason we must exercise fine judgement
INTERNATIONAL ETFs ARE TRADING AT A PREMIUM: WHAT SHOULD INVESTORS DO?
Most successful investors remain informed, agile, and approach investments strategically
A BONE THIEF IN UKRAINE'S BACKYARD
Ukrainian officials say the Russians continue their efforts to repatriate the remains of Soviet war dead
Simplifying estate planning: The value of expert guidance
Do I need the help of a professional estate planner? Should I opt for a will or trust? Which is effective?
Samsung plans to re-enter ACs market
Samsung is planning to launch over a dozen models of inverter ACs for its 2025 lineup.
