Decoding the Union Budget 2025
New Income Tax Act to be presented in Parliament next week of February 2025. :Budget 2025 Speech by Nirmala Sitaramn
The TDS limit under Section 194-I on rent has been increased from ₹2.4 lakh to ₹6 lakh.
No Income Tax Payable upto Rs 12 Lakh of Income
Presumptive taxation scheme proposed for Non-residents providing services to residents
Jan Vishwas Bill 2.0 to be introduced to decriminalize over 100 offences.
FM proposes to ease compliance for small charitable trusts by extending the registration period from 5 years to 10 years.
No income tax Omitting TCS on transactions related to the sale of goods to reduce compliance difficulties: FM on income up to ₹12 lakh.
A presumptive taxation scheme is proposed for non-residents providing services to residents.
The threshold for collecting TCS on remittances under LRS has been increased from ₹7 lakh to ₹10 lakh.
What is the time of budget today?
The Union Budget 2025 is scheduled to be presented by Finance Minister Nirmala Sitharaman at 11:00 AM IST on Saturday, February 1, 2025.
Where can I watch budget live?
You can watch the live telecast of the Union Budget 2025 on various platforms, including:
- Sansad TV: The official channel of the Indian Parliament.
- DD News: Doordarshan’s news channel.3
- News Channels: Major news channels like NDTV, Times Now, CNBC, and others will also provide live coverage.
- Online Platforms: Websites and apps of news organizations and financial institutions will offer live streaming and updates.5
What does it mean to budget time?
Budgeting time involves allocating specific periods for different activities or tasks. It’s a crucial part of time management, helping you prioritize and ensure you have enough time for everything you need to do.
Why budget on 1st Feb?
The tradition of presenting the Indian Union Budget on February 1st dates back to colonial times. It was chosen to align with the British budget cycle. While there have been discussions about shifting the date to accommodate the demands of the modern economy, the tradition of presenting the budget on February 1st has continued.
Stay tuned for updates on the Union Budget 2025!