https://www.taxtmi.com/news?id=32535 The Budget raises the income tax exemption threshold and increases the standard deduction for salaried taxpayers, reforms tax slabs to reduce middle-class tax liabilities, and increases thresholds for TDS and tax collection at source, while maintaining higher withholding for non-filers. To offset revenue impact it prioritises increased capital expenditure and higher dividend transfers from public financial institutions, projects a specified fiscal deficit trajectory for the coming year, and advances structural measures including full liberalisation of foreign investment in insurance and sectoral missions for agriculture, manufacturing and startups. en-us Sat, 01 Feb 2025 20:16:03 +0530 Sat, 01 Feb 2025 20:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=32535 The Budget raises the income tax exemption threshold and increases the standard deduction for salaried taxpayers, reforms tax slabs to reduce middle-class tax liabilities, and increases thresholds for TDS and tax collection at source, while maintaining higher withholding for non-filers. To offset revenue impact it prioritises increased capital expenditure and higher dividend transfers from public financial institutions, projects a specified fiscal deficit trajectory for the coming year, and advances structural measures including full liberalisation of foreign investment in insurance and sectoral missions for agriculture, manufacturing and startups. News - Sat, 01 Feb 2025 20:16:03 +0530 https://www.taxtmi.com/news?id=32535