Explained: All about changes in income tax slabs presented in Union Budget 2025

News Network
February 1, 2025

The Union Budget 2025 has brought significant revisions to the income tax structure, aiming to address long-standing demands of middle-class taxpayers, particularly salaried individuals. The newly proposed tax slabs and rebate enhancements are expected to provide substantial relief, making taxation more streamlined and beneficial for the majority.

REVISED INCOME TAX SLABS

The proposed tax slabs under the new regime are as follows:
•    Income up to Rs 4 lakh – Nil
•    Rs 4-8 lakh – 5%
•    Rs 8-12 lakh – 10%
•    Rs 12-16 lakh – 15%
•    Rs 16-20 lakh – 20%
•    Rs 20-24 lakh – 25%
•    Above Rs 24 lakh – 30% (plus applicable cess and surcharge)

Currently, the tax slabs under the new regime are:
•    Income up to Rs 3 lakh – Nil
•    Rs 3-7 lakh – 5%
•    Rs 7-10 lakh – 10%
•    Rs 10-12 lakh – 15%
•    Rs 12-15 lakh – 20%
•    Above Rs 15 lakh – 30%

ENHANCED REBATE UNDER SECTION 87A

The budget proposes an increase in the income cap for availing the rebate under Section 87A from Rs 7 lakh to Rs 12 lakh, while the rebate amount will rise from Rs 25,000 to Rs 60,000. This effectively means that individuals earning up to Rs 12 lakh annually (or Rs 1 lakh per month) will not have to pay any income tax under the new regime, excluding special rate income such as capital gains.

Additionally, salaried taxpayers can benefit from the standard deduction of Rs 75,000, pushing the tax-free income threshold to Rs 12.75 lakh.

Recent data suggests that 78% of taxpayers have already transitioned to the new tax regime. With these latest reforms, the government anticipates an even greater shift towards the default new regime.

TDS AND TCS RATE RATIONALISATION

The government has proposed selective rationalisation of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates, which include:

•    Senior Citizens’ Interest Income – The tax deduction threshold will be increased from Rs 50,000 to Rs 1 lakh.

•    TDS on Rent – The annual exemption cap will rise from Rs 2.40 lakh to Rs 6 lakh.

•    TCS on Foreign Remittances – The threshold cap will increase from Rs 7 lakh to Rs 10 lakh.

Additionally, the higher 20% TDS deduction will now apply only in cases where the PAN is inoperative, ensuring that compliant taxpayers do not face undue deductions. These adjustments are expected to ease compliance burdens for taxpayers.

UPDATED TAX RETURN FILING WINDOW EXTENDED TO 4 YEARS

Currently, taxpayers can file an updated return within 24 months from the end of the relevant assessment year, provided it results in additional tax payments. The new proposal extends this window to 48 months, offering taxpayers more flexibility to rectify their tax filings and remain compliant.

The Union Budget 2025’s tax reforms reflect a concerted effort to reduce the financial strain on taxpayers while simplifying the taxation process. These changes mark a significant shift in the government's approach to personal taxation, with a clear emphasis on inclusivity and fairness.

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News Network
February 20,2025

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A group of nearly 300 migrants, including Indians deported from the United States under President Donald Trump's crackdown on illegal immigration, are currently held in a hotel in Panama's Darien jungle region. These migrants hail primarily from Asian countries such as India, Nepal, Sri Lanka, Iran, Pakistan, Afghanistan, and China.

The migrants are not permitted to leave the hotel as the Panamanian government awaits international authorities to arrange their return to their home countries. According to a report, Panama's Security Minister Frank Abrego stated that the migrants are receiving medical attention and food as per an agreement between the United States and Panama.

However, a report from The New York Times quoted Artemis Ghasemzadeh, 27, an Iranian deportee, who said, "It looks like a zoo; there are fenced cages. They gave us a stale piece of bread. We are sitting on the floor."

Deputy Foreign Minister of Panama, Carlos Ruiz-Hernandez, confirmed that 97 people were transferred to the camp. He emphasized that the migrants were not "detainees" but rather in a migrant camp where they will be taken care of, not a detention camp.

Migrants in the hotel rooms displayed messages on the windows reading "Help" and "We are not safe in our country." According to the report, 40% of the migrants are refusing to return to their home countries voluntarily.

Panama serves as a transit country due to the challenges the US faces in deporting individuals directly to some countries. While Panama acts as a "bridge," the US government bears the cost of these arrangements. This agreement between the two countries was announced following the visit of US Secretary of State Marco Rubio to Panama. The threat of retaking control of the Panama Canal by Trump is mounting pressure on Panamanian President Jose Raul Mulino.

Costa Rica is also expected to receive a group of deportees on Wednesday.

Abrego stated that 171 of the 299 deportees had agreed to return to their home countries with the assistance of the UN Refugee Agency and the International Organization for Migration. The remaining 128 migrants are still being processed, with efforts being made to find alternative locations for them. While individuals who refuse to return to their home countries will be detained in a facility in the remote province of Darien for a while, one deported Irish individual has already returned home.

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News Network
February 20,2025

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New Delhi: Ten years ago, the BJP's Vijender Gupta was forcibly removed from the Delhi Assembly amid controversy over derogatory remarks made by a party colleague, OP Sharma, against then-AAP MLA Alka Lamba. Dramatic scenes from the Assembly showed Mr. Gupta, dressed in pristine white kurta-pyjama, being lifted, shouting and twisting, by several marshals. The BJP leader even clung to furniture, resisting all the way out.

Today, Mr. Gupta returns as the Speaker of the same Assembly, after the BJP achieved a remarkable victory in the 2025 Delhi election. He retained the Rohini seat he has held since 2015.

"I am thankful to the party for giving me this responsibility... to be Speaker of the Delhi Assembly. I will fulfill my responsibility. I hope we will have healthy discussions in the House," he told news agency PTI.

Mr. Gupta was previously the Leader of Opposition. Sources earlier mentioned he was even considered for the Chief Minister's post, a role that ultimately went to Rekha Gupta, a first-time MLA from Shalimar Bagh. Rekha Gupta becomes the fourth BJP Chief Minister of Delhi and the second woman from the party to hold that position.

What Happened In 2015?

On November 30, 2015, chaos ensued in the Delhi Assembly as AAP and BJP MLAs clashed over the alleged derogatory remarks. Ram Niwas Goel, then the Speaker, ordered Vijender Gupta to leave the House till 4 pm. When he refused, marshals were called in. Mr. Gupta resisted and tried to hold onto the bench, but the staff ultimately evicted him.

Before his eviction, Mr. Gupta accused the Speaker of being biased towards the AAP, then in power, claiming that three BJP legislators had been abused and assaulted by ruling party MLAs. "But no action has been taken against them," he alleged.

The AAP has yet to comment on Vijender Gupta's nomination.

Rekha Gupta's Big Day

Ms. Gupta, a first-time MLA from Shalimar Bagh, said she had no expectations when she left her home Wednesday evening to attend a legislators' meeting. It was widely anticipated that her colleague, two-time former Lok Sabha MP Parvesh Verma, who defeated AAP leader Arvind Kejriwal for the New Delhi seat, would get the job.

However, the BJP delivered a surprising decision. "When I left home, I did not know that I would become the Chief Minister," Ms. Gupta said, adding that it was Mr. Verma who proposed her name.

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News Network
March 1,2025

The Trump administration has given the go-ahead for a nearly $3 billion arms sale to Israel, sidestepping the standard congressional review process to expedite the delivery of 2,000-pound bombs widely used by the Israeli military in its ongoing onslaught in the Gaza Strip.

In a series of notifications sent to Congress on Friday, the State Department has reported it has approved the sale of more than 35,500 MK 84 and BLU-117 bombs and 4,000 Predator warheads worth $2.04 billion to Israel.

Secretary of State Marco Rubio “has determined and provided detailed justification that an emergency exists that requires the immediate sale to the Government of Israel of the above defense articles and defense services in the national security interests of the United States, thereby waiving the Congressional review requirements,” the department said.

Deliveries are set to begin next year, it said.

According to the same statement, Rubio has also approved another munitions sale to Israel worth $675.7 million to be delivered starting in 2028.

The Israeli regime has extensively used the MK 84, also known as the 2,000-pound bomb, in its genocidal wars against the people of Lebanon and Palestine, including the assassination of top Hamas and Hezbollah leaders.

Last May, the previous US administration attempted to curb Israel’s military aggression in Rafah, a city in southern Gaza, by imposing a temporary ban on the sale of 2,000-pound bombs.

This effort, however, proved futile in halting the invasion, as the US continued to supply other weapons to the Israeli regime.

On February 25, Trump’s National Security Adviser, Michael Waltz, rescinded the ban to allow the State Department to resume the sale of the bombs to the regime.

The State Department has also approved the sale of Caterpillar D9 Bulldozers and related equipment for an estimated cost of $295 million to Israel.

The Israeli regime has used D9 bulldozers to demolish thousands of Palestinian homes in the occupied West Bank and Gaza.

The Office of the UN High Commissioner on Human Rights has advised Caterpillar Inc. that by supplying the bulldozers to the regime, it is complicit in human rights violations.

D9 has been involved in several incidents of civilian deaths, including in 2023 when it was used against the refugees sheltering outside the Kamal Adwan Hospital.

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