Funds 2025 Reside: Union Finance Minister Nirmala Sitharaman offers ultimate touches to the Union Funds 2025-26 at her workplace in North Block, in New Delhi. She would be the solely finance minister to current eight consecutive budgets.
Funds 2025 Reside: The Union Funds for monetary yr (FY) 2025-26 will probably be offered immediately by Nirmala Sitharaman, who will probably be making a report for being the one finance minister to take action for the eighth consecutive time. The Union Funds 2025 has generated vital anticipation and expectations, as will probably be the second funds beneath the management of Prime Minister Narendra Modi’s third time period….Learn Extra
The Funds Session of Parliament commenced on Friday, January 31, with President Droupadi Murmu’s handle to each Homes. In keeping with the Parliamentary Bulletin, the Funds Session will probably be in two phases: The primary that started January 31 consists of the Union Funds on February 1 and can conclude on February 13; the second a part of the session will start on March 10 and can conclude on April 4.
Union Funds 2025 | Key factors
-Finance Minister Nirmala Sitharaman will current the Union Funds for the monetary yr 2025-26 immediately, February 1.
-Nirmala Sitharaman will turn out to be the primary finance minister to current the funds for eight consecutive occasions, nevertheless, she doesn’t maintain the report for presenting probably the most budgets.
-Former Prime Minister Morarji Desai holds the report of presenting probably the most budgets over completely different time durations. Morarji Desai has offered a complete of 10 budgets – six throughout his tenure as finance minister in 1959-1964, and 4 budgets between 1967-1969.
Comply with all of the updates right here:
Feb 1, 2025 5:13 AM IST
Union Funds 2025 Reside: Evaluating the brand new and previous tax regimes
New tax regime
Within the revised new tax regime introduced within the Union Funds 2024, tax charges have been simplified, with a construction that begins with tax-free revenue as much as ₹3 lakh.
Revenue between ₹3 lakh and ₹7 lakh: Taxed at 5%.
Revenue between ₹7 lakh and ₹15 lakh: Taxed at 10%.
Revenue above ₹15 lakh: Taxed at 30%.
This regime is designed to be easier, without having for taxpayers to say deductions or exemptions, making it simpler to file taxes for people with easy incomes.
Outdated tax regime
The previous tax regime permits people to say varied deductions and exemptions, which may scale back taxable revenue considerably:
As much as Rs. 3 lakhs – Nil
₹3 – 6 lakh – 5%
Rs.6 – 9 lakh – 20%
Rs. 9-12 lakh – 30%
The previous tax regime permits deductions and exemptions like:
₹1,50,000 beneath Part 80C for investments (e.g., PPF, ELSS).
₹50,000 as a typical deduction for salaried people.
As much as ₹2,00,000 for house mortgage curiosity beneath Part 24(b).
These deductions present a major benefit for many who profit from them, notably people with larger bills or investments that qualify for tax breaks.
Feb 1, 2025 5:05 AM IST
Union Funds 2025 Reside: Funds Session to happen in two phases
Union Funds 2025 Reside: The Funds Session of Parliament commenced on Friday, January 31, with President Droupadi Murmu’s handle to each Homes. In keeping with the Parliamentary Bulletin, the Funds Session will probably be in two phases: The primary that started January 31 consists of the Union Funds on February 1 and can conclude on February 13; the second a part of the session will start on March 10 and can conclude on April 4.
Feb 1, 2025 4:57 AM IST
Union Funds 2025 Reside: Report eighth funds presentation for Nirmala Sitharaman
Union Funds 2025 Reside: Nirmala Sitharaman will current the Union Funds for a report eighth consecutive time immediately, the one finance minister to take action. This can take Nirmala Sitharaman nearer to the report of 10 budgets that have been offered by former Prime Minister Morarji Desai over completely different time durations. Desai has offered a complete of six budgets throughout his tenure as finance minister in 1959-1964, and 4 budgets between 1967-1969.
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Feb 1, 2025 4:48 AM IST
Union Funds 2025 Reside: Funds presentation time
Union Funds 2025 Reside: The Union Funds 2025 will probably be offered at 11 am by Finance Minister Nirmala Sitharaman immediately.
The Funds was once offered on the final day of February at 5 pm until 1999, primarily based on a colonial period observe when the bulletins may very well be made in London and India on the identical time. India is 4 hours and thirty minutes forward of the British Summer time Time, and so presenting the funds at 5 pm in India ensured that it was taking place within the daytime in the UK.
The timing was modified in 1999 when the then finance minister Yashwant Sinha within the Atal Bihari Vajpayee authorities offered the funds at 11 am.
Feb 1, 2025 4:38 AM IST
Union Funds 2025 Reside: Modi govt 3.0’s second funds presentation immediately
Union Funds 2025 ive: Finance Minister Nirmala Sitharaman will probably be presenting Narendra Modi 3.0 authorities’s second funds immediately, February 1.
This additionally marks the primary time a finance minister will probably be presenting the funds for the eighth straight time.