The Union Budget of 2025: Finance Minister

by Publisher Meghinn -

 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

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Broken Promises on Lumpongdeng: Conrad Sangma Under Fire

by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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by Publisher Meghinn -
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Cherry Blossom Festival 2024: A Major Economic Boost for Meghalaya The Shillong Cherry Blossom Festival 2024 emerged as one of Meghalaya’s most successful tourism events, generating significant economic returns for the state. According to official reports, the festival produced an estimated ₹ 59.98 crore in economic impact, making it one of the state’s highest-earning cultural events of the year. The Meghalaya government invested roughly ₹ 5 crore into the festival, which highlights an impressive return on investment. Revenues came from multiple sectors, with large contributions from hospitality, travel, entertainment, and food services. The festival drew thousands of domestic and international visitors, further strengthening Meghalaya’s position as a key tourism destination in Northeast India. Breakdown of 2024 Revenue Streams Ticket revenue: ~₹ 29.1 crore Hotel and accommodation revenue: ~₹ 33.8 crore Transport, shopping & local activities: ~₹ 37.1 crore Food...
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by Publisher Meghinn -
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