{"id":230676,"date":"2025-02-03T08:18:04","date_gmt":"2025-02-03T08:18:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/03\/budget-2025-from-new-income-tax-slabs-rates-to-tds-tcs-nps-vatsalya-top-7-income-tax-takeaways-for-middle-class-the-times-of-india\/"},"modified":"2025-02-03T08:18:05","modified_gmt":"2025-02-03T08:18:05","slug":"budget-2025-from-new-income-tax-slabs-rates-to-tds-tcs-nps-vatsalya-top-7-income-tax-takeaways-for-middle-class-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/03\/budget-2025-from-new-income-tax-slabs-rates-to-tds-tcs-nps-vatsalya-top-7-income-tax-takeaways-for-middle-class-the-times-of-india\/","title":{"rendered":"Budget 2025: From new income tax slabs &#038; rates to TDS, TCS &#038; NPS Vatsalya &#8211; top 7 income tax takeaways for middle class &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i3.wp.com\/static.toiimg.com\/thumb\/msid-117880650,imgsize-77744,width-400,resizemode-4\/117880650.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Budget 2025: From new income tax slabs &#038; rates to TDS, TCS &#038; NPS Vatsalya &#8211; top 7 income tax takeaways for middle class &#8211; The Times of India\" title=\"Budget 2025: From new income tax slabs &#038; rates to TDS, TCS &#038; NPS Vatsalya &#8211; top 7 income tax takeaways for middle class &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<div class=\"cj2hz img_cptn\"><span title=\"One of the major amendments proposed in the current budget is the change in the tax rates and slabs under the Concessional Tax Regime.\">One of the major amendments proposed in the current budget is the change in the tax rates and slabs under the Concessional Tax Regime.<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">By Surabhi Marwah<\/span><br \/>Budget 2025 income tax: The Finance Minister in her budget speech stated that taxation reforms were one of the key reforms to realise the vision of \u201cViksit Bharat\u201d. The personal tax proposals in the budget presented today were made keeping in view this and the ideology that it was essential for the government to be responsive to the needs voiced by the citizens of the country. Some of the key takeaways from Budget 2025 for individual taxpayers are laid out below.<\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"4\">\n<ul>\n<li>Introduction of new income-tax bill: It has been proposed that a new income-tax bill which will be clear and direct in text and will have close to half of the present law, in terms of both chapters and words, will be introduced. It is expected to lead to tax certainty and reduced litigation by being simple to understand for both the taxpayers and tax administration.<\/li>\n<\/ul>\n<\/div>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"5\">\n<ul>\n<li>Revision in tax slabs and rates: One of the major amendments proposed in the current budget is the change in the tax rates and slabs under the Concessional Tax Regime (CTR) which would benefit taxpayers across the board. The proposed tax slabs are as under:<\/li>\n<\/ul>\n<\/div>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"6\">\n<table style=\"border-width: initial; border-style: none;\" class=\"redcator-table-advance\">\n<colgroup\/>\n<col\/>\n<col\/>\n<tbody>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Taxable income (INR)<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">New rate<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Up to 4,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">NIL<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">4,00,001 to 8,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">8,00,001 to 12,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">10%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">12,00,001 to 16,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">15%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">16,00,001 to 20,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">20%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">20,00,001 to 24,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">25%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Above 24,00,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">30%<\/td>\n<\/tr>\n<\/tbody>\n<tbody\/>\n<tbody\/>\n<tbody\/>\n<tbody\/><\/table>\n<\/div>\n<p><span class=\"em \" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">The rates of surcharge and health and education cess continue to remain the same as earlier.<\/span><br \/>Further, with a view to boost consumption, investment and savings by increasing the spendable income available in the hands of the middle-class taxpayers, it has been proposed to enhance the threshold for rebate under the CTR to INR 12 lakhs from the existing limit of INR 7 lakhs. This will increase the amount of rebate from INR 25,000 to INR 60,000. Effectively meaning that individual taxpayers with income (other than income taxable at special rates such as capital gains) up to INR 12 lakhs <span class=\"em \" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">(INR 12.75 lakhs for salaried taxpayers considering standard deduction of INR 75,000)<\/span> will not have to pay any income tax.<br \/>Also Check | <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/budget-2025-income-tax-calculator-changes-explained-salaried-taxpayers-to-save-rs-1-1-lakh-how-income-tax-slab-changes-in-new-tax-regime-will-benefit-you\/articleshow\/117836535.cms\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\">Budget 2025 Income Tax calculator explained: Save up to Rs 1.1 lakh! How income tax slab changes will benefit taxpayers at different salary levels under new regime<\/a><br \/>With this amendment, the government has made an effort to make the CTR much more attractive for individual taxpayers.<br \/>The below table summarises the tax savings for individuals at various taxable income levels.<\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"23\">\n<table style=\"border-width: initial; border-style: none;\" class=\"redcator-table-advance\">\n<colgroup\/>\n<col\/>\n<col\/>\n<col\/>\n<col\/>\n<tbody>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Taxable income<\/p>\n<p>(INR)<\/p>\n<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Tax under current CTR* (INR)<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Tax under proposed CTR* (INR)<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Tax savings<\/p>\n<p>(INR)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">12 lakhs<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">83,200<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">NIL<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">83,200<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">15 lakhs<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,45,600<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,09,200<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">36,400<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">24 lakhs<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">4,26,400<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">3,12,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,14,400<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">60 lakhs<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">17,04,560<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">15,78,720<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,25,840<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1.50 crores<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">50,11,240<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">48,79,680<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,31,560<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">2.50 crores<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">93,47,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">92,04,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,43,000<\/td>\n<\/tr>\n<\/tbody>\n<tbody\/>\n<tbody\/>\n<tbody\/>\n<tbody\/><\/table>\n<\/div>\n<p><span class=\"em \" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">* This includes applicable surcharge and health and education cess.<\/span><\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"27\">\n<ul>\n<li>Rationalization of TDS and TCS provisions: In an effort to simplify tax regulations, the Government has proposed a series of measures to rationalize Tax Deducted at Source (TDS) and Tax Collection at Source (TCS). Some of the key changes impacting individuals are below:<\/li>\n<\/ul>\n<\/div>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"28\">\n<table style=\"border-width: initial; border-style: none;\" class=\"redcator-table-advance\">\n<colgroup\/>\n<col\/>\n<col\/>\n<col\/>\n<col\/>\n<tbody>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Section<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Nature of payment<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Current threshold (INR)<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ffff00;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Proposed threshold (INR)<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"3\" style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">193<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Interest on securities<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">On debentures issued by company in which public are substantially interested<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">5,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">10,000<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">In any other cases<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">NIL<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">10,000<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">194<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Dividend for an individual shareholder<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">5,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">10,000<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"5\" style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">194A<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Interest other than interest on securities<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Where payer is bank, cooperative society and post office<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">For senior citizens<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">50,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">1,00,000<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">For others<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">40,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">50,000<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">In any other cases<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">5,000<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">10,000<\/td>\n<\/tr>\n<tr>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">194-I<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">Rent<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">2.4 lakhs during the financial year<\/td>\n<td style=\"border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ead1dc;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;\">50,000 per month or part of a month<\/td>\n<\/tr>\n<\/tbody>\n<tbody\/>\n<tbody\/>\n<tbody\/>\n<tbody\/><\/table>\n<\/div>\n<p>Further, the threshold limit for TCS with respect to the remittances made under the Liberalised Remittance Scheme (LRS) has now been increased from INR7 Lakhs to INR10 Lakhs. Additionally, the TCS on remittances for education purposes made out of a loan taken from a specified financial institution has now been removed. <\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"33\">\n<ul>\n<li>Deduction for NPS Vatsalya scheme: The NPS Vatsalya Scheme allows parents and guardians to open and manage a NPS account for minors until they reach the age of 18 years. It is proposed that contributions made to the NPS Vatsalya accounts would be eligible for deduction under Section 80CCD(1B) up to a maximum of INR 50,000. This deduction is within the existing limit of INR 50,000 available for Section 80CCD(1B). Further, these funds become taxable in the hands of the parent or guardian upon withdrawal\/ closure of the account except in case of death of the minor. The scheme also allows for partial withdrawals under certain circumstances, which are exempt from tax to the extent such withdrawals do not exceed 25% of the amount of contributions.<\/li>\n<\/ul>\n<\/div>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"34\">\n<ul>\n<li>Rationalisation of taxation of ULIPs: In the current budget, the taxation of ULIPs has been rationalised to provide that all ULIPs which are not exempt under section 10(10D) will be taxable as capital gains similar to equity-oriented funds. Currently only those ULIPs which are purchased after 01 February 2021 with premium\/ aggregate premiums more than INR 2.5 lakhs p.a. are taxable as capital gains with other non-exempt ULIPs being taxed as income from other sources. Post the amendment, a ULIP purchased in 2005 for which the premium payable in any year exceeds 10% of the actual sum assured, will also be taxable as capital gain instead of being taxed as income from other sources. The ULIPs which were exempt previously will continue to remain so.<\/li>\n<\/ul>\n<\/div>\n<p>Also Check | <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/new-tax-regime-vs-old-tax-regime-after-budget-2025-income-tax-slabs-and-rates-comparison-explained-which-tax-regime-is-better-for-middle-class-salaried-taxpayers\/articleshow\/117824985.cms\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\">New vs old income tax regime after Budget 2025: Post income tax slab changes, which tax regime is better for salaried middle class taxpayers?<\/a><\/p>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"37\">\n<ul>\n<li>Extension of time limit to file updated return: The time limit to file an updated return has been extended from 24 months to 48 months from the end of the assessment year. Further, the additional tax payable for updated returns filed between 24 to 36 months would be 60% of aggregate of tax and interest payable on the additional income disclosed in the updated return and 70% in case of updated returns filed between 36 to 48 months.<\/li>\n<\/ul>\n<\/div>\n<div class=\"cdatainfo modify_cdata_list_style id-r-component \" data-pos=\"38\">\n<ul>\n<li>Simplification of rules for self-occupied properties: With a view to simplify the provisions, the annual value of a self-occupied property (up to 2 properties) will be considered as Nil, if the owner occupies it for own residence or is unable to occupy it for any reason. Currently, for claiming the annual value as Nil, there are conditions to be satisfied like employment, business or profession carried on at any other place due to which the individual is unable to occupy the house property.<\/li>\n<\/ul>\n<\/div>\n<p><span class=\"em \" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">(Surabhi Marwah is Tax Partner, EY India. Ammu Sadanandhan, Director, EY India contributed to the article. Views are personal)<\/span><\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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