‘God spared me for a reason’: Donald Trump, 78, declares victory in historic US polls

Bengaluru: Special matching grants for the development of the backward region of Kalyana Karnataka, approval for the Mekedatu project and release of Rs 11,495 crore of special grants recommended by the 15th Finance Commission were among the suggestions and requests made by the Karnataka government during a pre-budget consultation with the Centre.

Last month, Union Finance Minister Nirmala Sitharaman met finance ministers of states and union territories (UTs) to take their demands and suggestions for the Union Budget 2025-26, to be presented on February 1.

In his presentation at the meeting, Karnataka Revenue Minister Krishna Byre Gowda on behalf of the state government led by Chief Minister Siddaramaiah sought release of Rs 5,300 crore promised in the Union Budget to Upper Bhadra project to provide water to drought prone central Karnataka and special matching grants for the development of backward region of Kalyana Karnataka and the global eco sensitive Western Ghats.

The state urged the Central government to shift from a "reimbursement-based" system to an "advance-release" model for the implementation of the centrally sponsored schemes and also proposed increasing the Central share of their honorariums to Rs 5,000 per month for ASHA workers and Rs 2,000 for Anganwadi helpers.

According to a statement shared by the Gowda's office on Friday, the minister suggested increasing Pradhan Mantri Awas Yojana assistance from Rs 1.5 lakh to Rs five lakh for urban houses and from Rs 72,000 to Rs three lakh for rural houses.

Karnataka has requested additional railway lines, expedited projects, and Central support for 50 per cent of land acquisition and 100 per cent construction costs.

The state also urged approvals for road infrastructure proposals, including new ring roads and upgrades to National Highways.

Gowda has also requested the Union government to increase pensions for old-age, widows, physically-challenged persons.

The Karnataka government called for transparent and need-based reforms in disaster relief fund allocation and timely release of SDRF (State Disaster Response Force) funds, prioritising states' disaster vulnerabilities, it stated.

Sher Mohammad Abbas Stanekzai, the Taliban's acting deputy foreign minister, delivered a powerful plea to his senior leadership, urging them to reopen schools for Afghan girls. In a speech that resonated as one of the strongest criticisms of the Taliban’s policies on female education, Stanekzai emphasized the injustice and non-compliance with Islamic Sharia law that the current restrictions represent.

“We request the leaders of the Islamic Emirate to open the doors of education,” he declared, invoking the teachings of Islam. “In the time of the Prophet Muhammad (Peace Be Upon Him), the doors of knowledge were open to both men and women.” His words underscored the historical precedence and religious justification for granting education to all.

Stanekzai did not shy away from highlighting the gravity of the issue. “Today, out of a population of forty million, we are committing injustice against twenty million people,” he stated, pointing to the female population of Afghanistan who remain deprived of their fundamental right to education.

His remarks come as a rare public rebuke of the Taliban’s ongoing school closures for girls, a policy that has faced internal disagreements and widespread international criticism. Sources indicate that the decision was enforced by the Taliban’s supreme spiritual leader, Haibatullah Akhundzada, despite opposition within the group.

The Taliban’s shifting stance on women’s education has drawn sharp condemnation globally. After initially promising to reopen high schools for girls in 2022, they reversed course, leaving the doors of secondary education and universities firmly closed to female students. The administration has claimed it is working on a plan for reopening these institutions but has yet to announce any concrete timeline.

Stanekzai’s speech adds to the chorus of criticism from Islamic scholars and the international community, who have called for the Taliban to honor women’s rights in accordance with Islamic principles. Western diplomats have made it clear that formal recognition of the Taliban government hinges on significant policy changes, particularly in the area of women’s education.

As of now, there has been no immediate response from a Taliban spokesman in Kandahar, where Haibatullah Akhundzada resides, regarding Stanekzai’s statements.
 

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.