MIDDLE CLASS TAXPAYERS
Quick commerce sector to benefit most from tax rebates as higher disposable income kicks in from May 2025: ICICI report
The quick commerce sector will be a key beneficiary of the income tax cut announced in the Union Budget 2025, as it will trigger strong consumption growth among middle-class consumers, an ICICI Securities report anticipated.
Section 87A tax rebate on STCG income allowed by CIT (Appeals); Know how this legal battle was won
Section 87A: Tax rebate under Section 87A was not given on special rate income like STCG since July 5, 2024. Many taxpayers who could claim it were served with a tax demand notice. Now a Delhi based taxpayer who filed a case heard by Commissioner of Income Tax (Appeals) Mumbai won. The CIT (A) decided based on statistical reason this taxpayer should get Section 87A tax rebate on STCG.
Is the selling in smallcap stocks over? Motilal Oswal’s Sneha Poddar offer insights
The recent underwhelming earnings performance of many small and midcap companies on account of rising costs, weakening demand, and sector-specific headwinds have eroded profitability, leading to earnings downgrades.
Tax sops to individuals cost Rs 8.7 lakh crore in 5 years
Tax breaks for individuals and Hindu Undivided Families (HUF) were nearly twice the incentives the Centre has given to corporates over the past five years to 2024, Lok Sabha data showed.
India’s high tax rates: Boon for bureaucrats, bane for the economy
India has one of the highest GST rates globally, leading to lower tax revenue efficiency and economic activity. High tax policies have deterred consumption, increased black market activities, and driven honest taxpayers and businesses out of the country, ultimately compromising long-term economic growth.
Trump purge: In the middle of season as millions file taxes, IRS fires 6,700 employees, mainly auditors dealing with tax compliance issues, and faces massive backlash
IRS has laid off 6,700 employees, with over 5,000 auditors and collection staff let go. This decision, coming in the middle of the tax season, has sparked intense backlash. While the White House cites "efficiency" as the reason, critics argue that it weakens tax compliance. Many claim it benefits the wealthy by reducing enforcement. With millions filing taxes, the timing has raised serious concerns. Lawmakers and tax professionals warn of refund delays and audit gaps.
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IRS fires 6,000 employees as Trump slashes government
Approximately 6,000 IRS employees will be terminated, amounting to 6% of its workforce, amidst President Trump's downsizing plan led by Elon Musk. Workers, especially those recently hired under President Biden's expansion scheme, face job losses, sparking legal challenges from labor unions.
FM Sitharaman dispels gloom over capex cut worries, says no govt programme will suffer
The govt's asset building efforts will persist with a 10.2% higher capex target for FY, FM Sitharaman said. Focus remains on consumption facilitation and debt-to-GDP ratio reduction, without affecting key programs, she added. Power and insurance sectors are likely to see significant reforms, the FM further said.
Looking for a car with budget under Rs 20 lakh? Here are the top launches slated for 2025
ET Wealth, in collaboration with Cardekho.com, brings an exciting lineup of petrol, diesel, and electric vehicles, which are slated to be launched this year. The auto industry is gearing up for numerous car launches in 2025. Not only are new models and updated versions of existing cars expected, but major carmakers like Maruti, Tata, Hyundai, Mahindra, Kia, and Skoda are also introducing new models to boost sales and offer more choices to consumers. Depending on your budget, you can choose a car up to Rs 20 lakh, between Rs 20-40 lakh, and above Rs 40 lakh, along with electric vehicles (EVs).
Can you stop filing ITR if your income is below Rs 12 lakh?
The Budget 2025 has raised the threshold of rebate available under Section 87A from Rs 25,000 to Rs 60,000. The basic income exemption limit was also increased to Rs 4,00,000. However, those with annual income less than Rs 4 lakh and those earning between Rs 4 lakh and Rs 12 lakh are required to file their ITRs, lest they might come under the ambit of tax. Read on to know more about such conditions.
Nirmala Sitharaman defends income tax relief in Rajya Sabha; tables new Income Tax Bill in Lok Sabha
Finance minister Nirmala Sitharaman defended the income tax relief for the 2025-26 budget, highlighting its benefits for all income groups, with higher savings for lower earners. She introduced a bill to simplify the tax regime, aiming for compliance and reduced litigation, effective from April 1, 2026.
Middle class treated as 'skeleton without soul' in USD5 trillion economy pursuit: AAP leader Raghav Chadha
AAP leader Raghav Chadha criticized the government for neglecting the middle class in its budget, which he claims benefits the wealthy. He highlighted issues like high household debt, tax burdens, and removal of rail subsidies. Chadha also voiced concerns about the impact of international policies and rupee devaluation on the economy.
Fund Manager Talk | Valuations reasonable across market, buying banks and consumer discretionary stocks: Anthony Heredia
The catalysts as well as potential drivers for the re-rating will be assessed and evaluated relative to current price, which makes it easier to implement portfolio decisions both from a buy as well as sell perspective.
New tax regime vs old tax regime post Budget 2025: These income earners may still benefit from old tax regime
The proposed changes could substantially increase the disposable income available to both middle-class and high-income earners. The benefit will be more pronounced at the bottom of the income pyramid. With no tax liability up to Rs.12 lakh, households will have more room to manage expenses, such as education, healthcare, and home loan EMIs. Find out how much you stand to save.
Why Kejriwal's hubris was both bad politics and economics
The Delhi election results saw BJP reclaim power after 27 years, highlighting voter dissatisfaction with AAP's leadership, particularly Arvind Kejriwal. Kejriwal's downfall was attributed to perceived corruption and unfulfilled promises, while BJP successfully appealed to the middle-class electorate. The defeat serves as a lesson in humility and focus for Kejriwal.
Focus on fiscal consolidation, growth supports India's credit profile: CareEdge Global
The Union Budget for 2025-26 emphasizes fiscal consolidation and economic growth, maintaining the deficit-to-GDP ratio at 4.4%. Capex-to-GDP remains steady, while debt-to-GDP shows a downward trend. The reduction in income tax offers significant relief, aiming to boost domestic consumption, with the taxable income limit increased to Rs 12 lakh.
Fiscal & monetary measures to boost consumption, private investment says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman expressed confidence that recently announced fiscal and monetary measures will boost consumption and stimulate private investment. The February 1 Budget includes significant tax cuts benefiting the middle class, while the Reserve Bank's policy rate cut aims to support economic growth. Coordinated efforts between the government and RBI continue to prop up growth and manage inflation.
From capex to consumption: A strategic shift in market sentiment
The capital goods sector has declined for six of the last seven months due to high valuations. The 2025 Union Budget shifts focus from capex-led growth to boosting consumption via tax cuts, benefiting sectors like FMCG, consumer durables, automobiles, real estate, retail financing, and banking.
Three things middle-class did not get, despite taxpayer-friendly Budget 2025
Middle class in Budget 2025: The Finance Bill presented by the FM on February 1, 2025, had a bonanza for middle-class taxpayers. However, despite the tax relief of not paying tax on incomes up to Rs 12 lakh, Budget 2025 disappointed middle-class taxpayers with no changes in these three areas.
ETMarkets Smart Talk: FMCG, Auto, and BFSI sectors set to gain big from Budget 2025, says Ajay Garg
While it may seem that the Budget did not have a large capex push, it actually rose by 10.1% from the RE 2024-25 capex of ₹10.18 lakh crores to BE 2025-26 capex of ₹11.21 lakh crores.
PM Modi was quick to agree to tax relief, bureaucrats took time: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman described the Union Budget as 'by the people, for the people, of the people,' with PM Modi supporting tax cuts for the middle class. She announced a hike in the personal income tax threshold and new tax brackets aimed at reducing the tax burden and boosting household consumption, savings, and investment.
New income tax slabs, rates in new tax regime for FY2025-26: How much tax is saved at different income levels
25% slab introduced for high earners and tax relief up to 30.8% for middle-income group. Read this table to see how much tax you can save at different income levels ranging from Rs 9 lakh to Rs 2.4 crore.
FM puts aam aadmi on a 'detax' diet
Finance Minister Nirmala Sitharaman announced a major tax relief package, significantly benefiting India's middle class amid economic challenges. Key reforms include an increased rebate for annual incomes up to Rs 12 lakh and a higher standard deduction for salaried individuals. The measures aim to economically uplift the middle class while also targeting key states ahead of upcoming elections.
'Make them wealthier, not gareeb-er': Anupam Mittal on big shift in Budget 2025 for middle class
The Union Budget 2025 has introduced significant tax relief for salaried professionals, exempting income up to ₹12.75 lakh under the new tax regime. Praised by Shaadi.com founder Anupam Mittal, this measure is seen as a much-needed systemic correction, aimed at easing the tax burden on the middle class. Mittal highlights that the move could stimulate consumption and economic growth by increasing disposable income, marking a shift in policy focus.
'Poverty has been redefined': Shark Tank's Anupam Mittal reacts to Rs 12 lakh tax break in Budget '25
Finance Minister Nirmala Sitharaman unveiled key tax reliefs for India’s middle class in the Union Budget 2025, featuring a simplified tax structure, a higher TCS threshold on foreign remittances, and enhanced benefits for salaried individuals. These measures aim to reduce the financial burden and boost disposable income for middle-income earners.
Zero income tax for 1 crore more Indians after Sitharaman's big Budget relief
Finance Minister Nirmala Sitharaman's recent Budget announcement has raised the income tax rebate threshold under Section 87A to Rs 12 lakh, providing significant relief for middle-class taxpayers. Now, resident individuals with a net taxable income up to Rs 12 lakh will pay zero income tax. This update benefits around 1 crore more salaried Indians.
Income tax highlights of Budget 2025: Lakshmi blesses middle class taxpayer
With a promise to further simplify the current tax law by introducing a new Income-tax Bill next week, the taxpayer-friendly Budget included key changes in personal taxation designed to simplify compliance, modernise tax administration, and stimulate economic growth. The government continues to incentivise the new tax regime, making no changes to the existing income tax slabs under the old tax regime for individual taxpayers.
To benefit from income tax relief, you need jobs: Shashi Tharoor takes dig at Budget highlight
Shashi Tharoor criticized Finance Minister Nirmala Sitharaman's Union Budget, highlighting the irony of tax exemptions without addressing unemployment. He questioned the benefit of tax cuts if there are no jobs. Sitharaman's announcement of no income tax up to Rs 12 lakh elicited applause, but the actual benefit depends on income sources, which Tharoor emphasized were ignored.
Budget 2025 unveils bold roadmap for transformative tax reforms
Union Budget 2025: Finance Minister Nirmala Sitharaman, in her 2025-26 Budget, introduced significant tax reforms aimed at easing the tax burden on the middle class and simplifying income tax laws. The reforms include higher tax thresholds, an extended filing window for updated returns, and increased relief for salaried taxpayers and senior citizens.
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