MAJOR TAX RELIEF for middle class, no income tax for earnings up to Rs12 lakhs

Delhi: Union Finance Minister Nirmala Sitharaman announced today that a new income tax bill will be presented in Parliament next week. She assured taxpayers that the proposed legislation would be straightforward to comprehend. This move aims to simplify tax compliance and provide relief to millions of Indian taxpayers.

36 life-saving drugs to become cheaper

In a significant move, the finance minister has proposed price reductions on 36 essential life-saving drugs, including medications for cancer treatment. This initiative is expected to ease the financial burden on patients and improve accessibility to crucial medicines.

Budget 2025-26 unveiled amidst opposition uproar

FM Sitharaman began presenting the Union Budget 2025-26 in Parliament, despite disruptions from opposition parties. One of the key highlights of the budget is potential tax relief for the middle class, which could include reductions in income tax slabs.

Possible income tax relaxation for individuals earning up to Rs 12 Lakh

Reports indicate that the government may provide income tax relaxation for individuals earning up to Rs 12 lakh annually. This move is expected to benefit a large section of salaried employees and small business owners.

Tax incentives for first-time home buyers

First-time homeowners and prospective home buyers are also anticipating tax incentives. The government is reportedly considering deductions on home loan interest repayments and subsidized interest rates to encourage home ownership. This policy, if implemented, could significantly boost the real estate sector.

PM Modi hints at Tax Relief for the middle class

Prime Minister Narendra Modi had earlier hinted at tax relief during a recent event, stating, “I pray that Maa Lakshmi continues to bless the poor and middle class of our country.” His remarks have fueled speculation that the budget will include substantial benefits for middle-income groups.

Stay tuned for live updates on the budget, including changes to income tax slabs, explanations of key financial terms, and interesting budget trivia. Did you know that cricketer Yuzvendra Chahal is also an income tax officer? Keep following this space for more insights