Spartan Posted February 1 Report Share Posted February 1 The new tax structure announced by Finance Minister Nirmala Sitharaman proposed ‘no taxes’ for income upto Rs 12 lakh, an effort to substantially relieve the tax burden of the middle class and leave more money in their hands. For salaried taxpayers, no taxes would be applicable for Rs 12.75 lakh, due to standard deduction of Rs 75,000 1 1 Quote Link to comment Share on other sites More sharing options...
CanadianMalodu Posted February 1 Report Share Posted February 1 On 2/1/2025 at 7:01 AM, Spartan said: The new tax structure announced by Finance Minister Nirmala Sitharaman proposed ‘no taxes’ for income upto Rs 12 lakh, an effort to substantially relieve the tax burden of the middle class and leave more money in their hands. For salaried taxpayers, no taxes would be applicable for Rs 12.75 lakh, due to standard deduction of Rs 75,000 Expand They should have made it 20 lakhs. Quote Link to comment Share on other sites More sharing options...
Popular Post Android_Halwa Posted February 1 Popular Post Report Share Posted February 1 12 lakhs varaku no income tax…. huge reform… GST collections can easily compensate for the shortfall in income tax collection…its direct savings for common man and indirect earnings for govt will still remain the same… 3 Quote Link to comment Share on other sites More sharing options...
Android_Halwa Posted February 1 Report Share Posted February 1 In a similar way, capital gains degara kuda edo oka releif vunte better…especiall capital market investors ki…as more and more people park their earnings in stock markets.. Quote Link to comment Share on other sites More sharing options...
pichukgudu Posted February 1 Report Share Posted February 1 On 2/1/2025 at 7:29 AM, Android_Halwa said: In a similar way, capital gains degara kuda edo oka releif vunte better…especiall capital market investors ki…as more and more people park their earnings in stock markets.. Expand idhi kastam emo .. this is something govt is targeting .. to claim a share in profit, ppl r making .. in d form of capital gains tax .. I also believe this makes a huge part of their earnings! Quote Link to comment Share on other sites More sharing options...
Android_Halwa Posted February 1 Report Share Posted February 1 On 2/1/2025 at 7:54 AM, pichukgudu said: idhi kastam emo .. this is something govt is targeting .. to claim a share in profit, ppl r making .. in d form of capital gains tax .. I also believe this makes a huge part of their earnings! Expand See Govt is not a profit making entity, it takes a cut, its like give me a bit of what you make…The more money we make, by reducing capital gains, it encourages more and more people to invest and govt takes its cut out of more people which is much higher.. simple ga, high capital gains kante low capital gains valle govt makes more money…an investor never pulls out money instead they keep on investing…and govt gets it cut. 1 Quote Link to comment Share on other sites More sharing options...
ARYA Posted February 1 Report Share Posted February 1 Ma pedalaki subhavartha Quote Link to comment Share on other sites More sharing options...
pichukgudu Posted February 1 Report Share Posted February 1 On 2/1/2025 at 8:21 AM, Android_Halwa said: See Govt is not a profit making entity, it takes a cut, its like give me a bit of what you make…The more money we make, by reducing capital gains, it encourages more and more people to invest and govt takes its cut out of more people which is much higher.. simple ga, high capital gains kante low capital gains valle govt makes more money…an investor never pulls out money instead they keep on investing…and govt gets it cut. Expand I completely agree wid wat u said .. but d only problem i see is, due to lot of tax evasion by various means which ppl tend to follow .. govt is forced to keep these taxes high .. Anyways there is a brighter side just as you mentioned .. if govt reduce the tax rate .. it may encourage more ppl to invest & also maybe due to reduced rates .. the evasion also reduces as ppl r happy to pay a lower share of their profits to govt. Lets see .. Quote Link to comment Share on other sites More sharing options...
rational Posted February 1 Report Share Posted February 1 I think conditions apply only 4 lakhs no tax for direct income which already existed before. rest 8 lakhs, there were a lot of queries, u get tax exemption if you have savings, insurance rebatable income etc its not simple as if your direct income is 12 lakhs and you will not have any tax. I will post once i find the page. 1 Quote Link to comment Share on other sites More sharing options...
Android_Halwa Posted February 1 Report Share Posted February 1 GST…New Tax regime..!! Usually it takes a decade for tax system to show intended results.… most people thought GST will change their lives overnight…its a myth. It takes a decade to feel the change and now that change is practically visible.. Tax net has widened…more and more unorganized sectors are bought under tax net…another decade and India will see lower taxes… Quote Link to comment Share on other sites More sharing options...
Android_Halwa Posted February 1 Report Share Posted February 1 On 2/1/2025 at 8:44 AM, pichukgudu said: I completely agree wid wat u said .. but d only problem i see is, due to lot of tax evasion by various means which ppl tend to follow .. govt is forced to keep these taxes high .. Anyways there is a brighter side just as you mentioned .. if govt reduce the tax rate .. it may encourage more ppl to invest & also maybe due to reduced rates .. the evasion also reduces as ppl r happy to pay a lower share of their profits to govt. Lets see .. Expand This is like chicken and egg situation… High capital gains keeping people away from markets…its the responsibility of the govt and fiscal policy to encourage the markets. Tax evasion, black money corculation, agri income tax benefits, itla chala vunayi… But finer print endante electronic payments valla kastha organized avutunayi…future la elago tax evasions and inorganized sectors taggipotayi…Govt should encourage keeping such future changes in mind so that people find it encouraging to invest in capital markets…more incentives to manufacturing..more sales more revenues and more tax collections.. 1 Quote Link to comment Share on other sites More sharing options...
pichukgudu Posted February 1 Report Share Posted February 1 On 2/1/2025 at 8:47 AM, rational said: I think conditions apply only 4 lakhs no tax for direct income which already existed before. rest 8 lakhs, there were a lot of queries, u get tax exemption if you have savings, insurance rebatable income etc its not simple as if your direct income is 12 lakhs and you will not have any tax. I will post once i find the page. Expand Income Tax Budget 2025 Explained: Finance Minister Nirmala Sitharaman has raised the limit of income tax rebate from Rs 7 lakh to Rs 12 lakh, which essentially means that if an individual has an income of up to Rs 12 lakh, she will have zero tax liability. Does that mean that those earning Rs 15 lakh will have to pay tax on only Rs 3 lakh? No, the rebate is only applicable for those earning up to Rs 12 lakh. If your taxable income is even a rupee more than Rs 12 lakh, you will have to pay taxes as per the slab rates under the new tax regime. Earlier, those earning up to Rs 12 lakh paid a tax of Rs 80,000 under the new tax regime. This means that if your taxable income is, say, Rs 12.1 lakh, your tax liability would be Rs 61,500. This is because, if your income is above Rs 12 lakh you will have to pay a tax of 5% on income between Rs 4 lakh to 8 lakh; 10% on income between Rs 8 lakh to 12 lakh and 15% between Rs 12 lakh to 16 lakh. So an individual earning Rs 15 lakh will end up paying a tax of Rs 1,05,000. Source: https://indianexpress.com/article/explained/explained-economics/income-tax-rebate-9811541/ 1 Quote Link to comment Share on other sites More sharing options...
pakeer_saab Posted February 1 Report Share Posted February 1 On 2/1/2025 at 7:08 AM, CanadianMalodu said: They should have made it 20 lakhs. Expand why not 50 lakhs Quote Link to comment Share on other sites More sharing options...
psycopk Posted February 1 Report Share Posted February 1 Quote Link to comment Share on other sites More sharing options...
psycontr Posted February 1 Report Share Posted February 1 Devil is always in the details! Income <= 12 Lacs; No Tax 👏 Income >12 Lacs; Tax starts from 4 Lacs 🧐 1 1 Quote Link to comment Share on other sites More sharing options...
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