FINANCE

In India, the New Tax Regime, introduced under Section 115BAC of the Income Tax Act, offers a simplified tax structure with lower tax rates but fewer deductions and exemptions compared to the Old Tax Regime. As of FY 2024-25 (AY 2025-26), applicable on March 19, 2025, the New Tax Regime is the default option, though taxpayers can opt for the Old Regime if it suits their financial situation better. Below are the key deductions available under the New Tax Regime: Deductions Allowed in the New Tax Regime Standard Deduction for Salaried Individuals and Pensioners Amount: ₹75,000 (increased from ₹50,000 in Budget 2024). Eligibility : Available to salaried employees and pensioners whose pension is taxed as salary income. Impact : This deduction reduces taxable income, effectively making income up to ₹7.75 lakh tax-free when combined with the ₹7 lakh rebate under Section 87A. Deduction for Family Pension Amount : ₹25,000 or one-third of the pension, whichever is lower (increased from ₹15,000 ...

Here’s a tailored March End Income Tax Checklist, highlighting key points to remember as of March 18, 2025, for the Financial Year (FY) 2024-25 (ending March 31, 2025). This is based on general practices under the Income Tax Act, 1961, and assumes the old tax regime unless specified, as it offers more deductions. Start early to avoid penalties or missed opportunities! 1) Furnishing of an updated return of income for the Assessment Year 2022-23: In Income tax, 31st March 2025 is the last date to file the updated return, if the taxpayer has made errors or omissions in their original or revised return for FY 21-22. 2) Investment for Deduction: If deduction u/s 80 ( for eg. 80C, 80G) is to be claimed in Income tax for FY 2024-25, then every taxpayer should verify the limits of Income tax and their tax liability and should invest, donate, etc. before 31st March 2025. 3) TDS on Salary: Salaried Employees should give the details of Investments and deductions tothe Employer to avoid excess TDS...

Income Tax Rates for Individuals (under 60 years) for AY 2025-26 Old Tax Regime Up to ₹2,50,000: No tax (Nil). ₹2,50,001 to ₹5,00,000: 5% tax on income above ₹2,50,000. ₹5,00,001 to ₹10,00,000: ₹12,500 + 20% tax on income above ₹5,00,000. Above ₹10,00,000: ₹1,12,500 + 30% tax on income above ₹10,00,000. New Tax Regime (Section 115BAC) Up to ₹3,00,000: No tax (Nil). ₹3,00,001 to ₹7,00,000: 5% tax on income above ₹3,00,000. ₹7,00,001 to ₹10,00,000: ₹20,000 + 10% tax on income above ₹7,00,000. ₹10,00,001 to ₹12,00,000: ₹50,000 + 15% tax on income above ₹10,00,000. ₹12,00,001 to ₹15,00,000: ₹80,000 + 20% tax on income above ₹12,00,000. Above ₹15,00,000: ₹1,40,000 + 30% tax on income above ₹15,00,000. Key Notes: Taxpayers opting for the New Tax Regime cannot claim certain exemptions and deductions available under the Old Tax Regime, such as HRA, 80C, 80D, 80TTB, etc. A Health & Education Cess of 4% is applicable on the income tax amount plus any surcharge in both regimes. Surcharge (app...

Risk weights have been revised, impacting commercial banks, SFBs, RRBs, and LABs. What does this mean for banks & borrowers? Let’s break it down. 👇 1️⃣ Microfinance Loans & Risk Weights Earlier, consumer credit loans (like personal loans) had a 125% risk weight to curb excessive lending. Now, RBI has excluded microfinance loans from this, lowering their risk weight to 100%. 2️⃣ Who’s Affected? ✅ Commercial Banks & Small Finance Banks Microfinance loans as consumer credit now get 100% risk weight (instead of 125%). If they meet regulatory retail portfolio (RRP) norms, they can get 75% risk weight. ✅ RRBs & Local Area Banks (LABs) All microfinance loans will now have a 100% risk weight. 3️⃣ Why Does This Matter? Lower risk weights mean banks need less capital for microfinance loans. This could boost lending in the microfinance sector. RRBs & LABs get clarity on uniform risk treatment. 4️⃣ What Stays Unchanged? Consumer credit loans (personal loans, etc.) ...

Date : 𝗝𝘂𝗻𝗲 𝟬𝟰, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟰𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀  Total - Rs. 𝟰𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Link:  rbi Date : 𝗝𝘂𝗻𝗲 𝟭𝟭, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟮𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Total - Rs. 𝟲𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Date : 𝗝𝘂𝗻𝗲 𝟮𝟱, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟮𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Total - Rs. 𝟴𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Date : 𝗝𝘂𝗹𝘆 𝟬𝟮, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟱𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀  Total - Rs. 𝟭𝟯𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Date : 𝗝𝘂𝗹𝘆 𝟭𝟲, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟮𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Total - Rs. 𝟭𝟱𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲 Date : 𝗝𝘂𝗹𝘆 𝟯𝟬, 𝟮𝟬𝟮𝟰 Auction of State Securities Bonds  𝗗𝗲𝗯𝘁 Amount : 𝟯𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀  Total - Rs. 𝟭𝟴𝟬𝟬𝟬 𝗖𝗿𝗼𝗿𝗲𝘀 Date : 𝗔𝘂𝗴𝘂?...