Big Relief To Middle Class, No Income Tax Up To Rs 12 Lakh

[Jatka Bandi]

4 hours ago, psycontr said:

So, if you get promoted from 12 Lacs pa to 13 lacs pa income this year, your take home will come down significantly.

 

3 hours ago, jalsa01 said:

 

vallaki end lo 85k tax rebate ani undi.. so no need to pay or claim after it returns 

https://tax.pythontrader.in/

[citizenofIND]

Comedy, oka biscuit vesaru anthe. Wait and see. 
 

 

[ARYA]

6 hours ago, Anta Assamey said:

🥲 rich peoples vetakarams

[CanadianMalodu]

5 hours ago, andhra_jp said:

This is welcome move but underlying tickling bomb for indian economy is unemployment and creation of jobs.. if that is not solved then merely doing tax reforms will have not much benefit in long run..

 

No country can create endless jobs. In percentage population, it's already over 50%. China with more industrial capacity has some 10% higher. You can at maximum see that much growth in India. Even then, it doesn't solve much.

[a4apple]

Oh my daddy

[andhra_jp]

India budget opts for economic sugar rush over reform

Summary

• Budget focuses on short-term relief with middle-class tax cuts
• Analysts disappointed by lack of growth strategy and reforms
• Capital spending gets less emphasis, could undermine growth aims

Without a strategy to regain high growth rates and assure jobs for India's young population, the budget disappointed analysts and markets, alarmed in recent months by weak earnings growth and an exodus of foreign investors.

 

"India is aspiring for 8% growth but we don't have a path to 8% - a growth strategy is not there," said Madhavi Arora, chief economist at Emkay Global Financial Services.

 

The government has forecast India's GDP growth will slip to a four-year low of 6.4% in the current financial year to March 31 and stay close to that level next year as well, compared with 8.2% in 2023-24.

 

While the latest tax cuts may help urban consumers, who took some steam out of the economy as weak wage growth and high living costs curtailed their spending habits, economists see deeper problems that need to be addressed.

 

"Eight percent will require far deeper interventions in agricultural markets, human capital and ease of doing business," said Dhiraj Nim, an economist at ANZ Research.

 

Plans for large-scale privatisations of state-owned enterprises, aiming to reinvigorate them by reducing government involvement, have also faltered, with the government now opting to put fresh funds into ailing state firms.

 

On Friday, India's chief economic adviser, V. Anantha Nageswaran, made a pitch for rapidly easing rules covering land, labour and factories, among other areas, arguing that government should "get out of the way" as one way to push up growth.

 

The tax cuts' 1 trillion rupee ($11.56 billion) price tag also reduced the government's leeway to further ramp up spending on infrastructure.

 

The budget includes 11.2 trillion rupees for capital expenditure in 2025-26, close to the level of spending planned for the current year, although actual outlays fell short of that due to delays linked to national and state elections.

 

"We think that capital expenditure and infrastructure development will provide a longer-term, longer-lasting boost to growth than things like tax measures," said Christian de Guzman, senior vice president and lead sovereign analyst for India at Moody's Ratings.

 

[JANASENA]

On 2/1/2025 at 2:08 AM, CanadianMalodu said:

They should have made it 20 lakhs.

BY 2028 they will make it atleast 15L

[akkum_bakkum]

On 2/1/2025 at 1:01 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

Lol, it means a person earnjng less than 1lakh per month is considered poor.

[dewarist]

Taayi says this is a step for Viksit Bharat

Amrit kaal is done and now dashing towards Viksit Bharat

[CanadianMalodu]

28 minutes ago, JANASENA said:

BY 2028 they will make it atleast 15L

Ippude em cheyyaledhu. 20Lakhs dhaka we don't need income tax at all. All slabs included. The total tax burden will reach up to 50-55% if both direct and indirect taxes are accounted. Andhuke "Lawadena Bhojyam anedhi"

[Polavaram]

28 minutes ago, JANASENA said:

BY 2028 they will make it atleast 15L

5-6 years back inflation tho compare cheskunte, ippudu 12 lakhs limit valla public ki purchasing power em peragadu, appudu, ippudu, future 2028 lo 15L valla, same basic needs meet ayitharu public