The Union Budget of 2025: Finance Minister

 The Union Budget 2025 introduced several significant changes to the income tax laws in India. Here are some key highlights:

  1. Basic Exemption Limit: The basic exemption limit has been increased from ₹3 lakh to ₹4 lakh under the new tax regime. This means lower tax liability for all taxpayers.

  2. Income Tax Return (ITR) Filing: Filing an ITR will now be mandatory only if the gross taxable income exceeds the revised exemption threshold, except in specific cases.

  3. Revised Returns: The deadline for submitting revised returns has been extended from two years to four years.

  4. New Income Tax Bill: A new Income Tax bill will be introduced in Parliament next week, aiming to simplify the existing law and reduce litigation.

  5. Tax Slabs: The new tax slabs under the new regime are as follows:

    • ₹0 - ₹4 lakh: Nil

    • ₹4 lakh - ₹8 lakh: 5%

    • ₹8 lakh - ₹12 lakh: 10%

    • ₹12 lakh - ₹16 lakh: 15%

    • ₹16 lakh - ₹20 lakh: 20%

    • ₹20 lakh - ₹24 lakh: 25%

    • Above ₹24 lakh: 30%

These changes are designed to ease the tax burden on the middle class and simplify the tax filing process

Comments

Pule Kiwei Kiwei

Here are 30 recent current affairs from Meghalaya (May-June 2026

Ym don ba kyrshan ia Ka Angela Rngad jop u Tynsong

Sdang leh Lamwir ka kong Angela Naba kwah burom bad pisa ha ka kyrteng ki Nongbylla sngi

Pynjah burom ka khynnah samla ia ka shnong bad ia ka Constituency u bah Prestone

Ka TUR Ka dei ba la theh Pisa da ki mynderi ban iaid beit Ka Kam Ka jam ha Ka kyrteng ki nongbylla sngi

Phet rieh ki bar jylla kiba ioh bhah pule doctor na ka Sorkar Meghalaya

Bun ki briew ba mane blei ia ki Social media bad SA wanrah jingeh ha Ka imlang sahlang

Lada ym don u Tynsong lah khylliap ka Sorkar u Conrad

Ka Samla Grace WarDkhar kaba nyngkong na ki Khasi ha Instagram ban ioh 1Lak follower

Lada ka Sorkar ka kyntiew bha ia ka Kam jngoh kai, Kam donkam pisa shuh ban pan nabar jylla.