Income Tax Budget 2025

Income Tax Budget 2025

Top 75 Highlights of Budget 2025 By FM Nirmala Sithraman

Top 75 Highlights of Budget 2025 By FM Nirmala Sithraman

1. No Income Tax upto Income of Rs 12 Lakhs, New Slab Rates for all Taxpayers benfiting Middle Class
2. FM propose to introduce the New Income Tax Bill next week
3. New Bill be Half of the present Income Tax law in terms of chapters and words
4. TDS on Senior Citizen Rs 1 lakhs plus on interest TDS on Rent Rs 6 Lakhs onwards
5. 90 Lakhs filed updated returns Now you can file Income Tax Returns for past 4 years in ITR U
6. The focus is on inclusive development and boosting middle-class spending.
7. Budget aims to accelerate growth and unlock the nation’s potential.
8. Budget will initiate reforms in primarily 6 domains — taxation, urban development, mining, financial sector, power and regulatory reforms.
9. Plant with annual capacity of 12.7 lakh metric tons to be set up at Namrup, Assam
10. 3 dormant urea plants in the Eastern region had been reopened
11. Investment limit for #MSME classification to be made 2.5 times. Turnover limits for MSME classification to be doubled
12. Government to provide support to National Cooperatives Development Corporation for its lending operations for cooperative sector
13. Kisan Credit Card: Facilitates loans for 7.07 crore farmers. Loan limit will be increased from Rs3 lakh to Rs5 lakh under KCC
14. Boosts Footwear, Leather & Toys Industry!
15. New scheme for footwear & leather sector to create 22 lakh jobs, ₹4L Cr revenue & ₹1.1L Cr+ exports.
16. Toys sector to get a dedicated scheme to make India a global manufacturing hub!
17. Announces 5-year mission to promote cotton production
18. 5 national centres will be set up for skilling in partnerships in manufacturing. Expansion of capacity in IITs – 100% increase in last 10 years. Additional infra will be created for 6500 more students in new IITs.
19. New Fund of Funds for Startups to be set up
20. Fresh contribution of another ₹ 10,000 crore, in addition to existing government contribution of Rs. 10,000 crore.
21. New Scheme for 5 lakh Women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs
22. Centre of excellence in #AI for education to be set up with outlay of Rs. 500
23. To add 75000 medical seats in next 5 years
24. The government will establish a national institute of food technology, entrepreneurship and management in Bihar.
25. Centre will launch a 6-year programme for Atamnirbharta in pulses
26. Credit guarantee cover to be enhanced for MSMEs and start-ups
27. 75 thousand seats will increase in IIT
28. Cancer hospital will open in every district Broadband facility will be available in primary schools
29. The government will create a ₹1 lakh crore Urban Challenge Fund aimed at transforming cities into growth hubs. The fund will finance 25% of the cost of bankable projects, with an allocation of ₹10,000 crore for 2025-26.The remaining 50% will be funded through bonds, bank loans, and public-private partnerships (PPPs).
30. FM announces Dhan Dhanya Krishi Yojna in partnership with states. Scheme to cover 100 Districts. Says 1.7 crore farmers will be benefited.
31. A new scheme has been launched to offer term loans with a five-year tenure, benefiting 5 lakh women from SC/ST communities.
32. The Finance Minister announced a dedicated scheme for India’s footwear and leather sector, expected to generate employment for 22 lakh individuals, achieve a revenue of ₹4 lakh crore, and boost exports to over ₹1.1 lakh crore.
33. For the toys sector, the government will implement a scheme to make India a global manufacturing hub.
34. Saksham Anganwadi and Poshan 2.0 programs will provide vital nutritional support to 8 crore children, 1 crore mothers, and 20 lakh adolescent girls, focusing on lactating women, adolescent girls, and children.
35. 50.000 Atal Tinkering Laboratories (ATLs) will be set up in government schools in the next 5 years to foster scientific temper in young minds. Broadband connectivity is to be provided to all secondary schools.
36. Five National Centres of Excellence for Skilling will be established to equip the youth with the necessary skills for global opportunities. The Finance Minister also promised global skilling partnerships to enable India to become a key player in global manufacturing.
37. The PM Swanidhi Scheme will be revamped with higher loan limits and the introduction of a ₹30,000 UPI-linked credit card. The government will also facilitate identity card issuance and registration on the e-Shram portal for gig workers, providing insurance coverage for nearly 1 crore workers.
38. 3-year pipeline of projects by states to be given that can be implemented in private-public partnership (PPP) mode. Each infrastructure-related ministry is to come up with a 3-year plan to be implemented in PPP mode. The outlay of ₹1.5 lakh crore is proposed for 50-year interest-free loans.
39. Extend Jal Jeevan mission with an enhanced outlay, focus on quality infrastructure and O&M. 15 crore households have been provided portable tap water access under Jal Jeevan Mission
40. 100GW nuclear enegery by 2047 is essential for energy transition
41. The modified UDAN scheme will be launched to connect 120 new destinations and cater to 4 crore passengers over the next 10 years.
42. India’s cities are set for transformation! The ₹1L Cr Urban Challenge Fund will fuel creative redevelopment, enhance water & sanitation infra, and turn cities into growth hubs. With ₹10K Cr allocated for FY 2025-26, the future of urban India looks ambitious!
43. hrust on investment in infrastructure continues with focus on PPP projects and asset monetization among others
44. Each infrastructure-related ministry to come up with a 3-year pipeline of PPP infra projects
45. Financial assistance will be provided for Western Kosi Canal Project in Mithilanchal region of Bihar
46. Focus Product Scheme for Footwear & Leather Sectors is expected to facilitate employment for 22 lakh persons, turnover of ₹4 lakh crore and exports of over ₹ 1.1 lakh crore
47. Scheme to Make India a Global Toys Hub; To create high-quality toys representing the Made In India brand
48. Mudra loans to be provided to homestays, says FM.
49. Medical tourism and ‘heal in India’ to be promoted in partnership with private sector. Top 50 tourism destination sites will be developed in partnership with states
50. Extension of Jal Jivan Mission till 2028, It started in 2019. 100% household receive clean water through tap.
51. The government will offer a national guidance framework to help states promote Global Capability Centres (GCCs) and enhance their growth.
52. Centralized KYC system soon
53. Jan Vishwas 2.0 bill to decriminalise over 100 provisions in existing laws.
54. Banks will be required to maintain a Grameen credit score for self-help groups to facilitate better financial access and support.
55. Govt to draft model bilateral investment treaty to attract foreign investment
56. Insurance FDI hiked from 74% to 100%
57. The revised estimate of the total receipts other than borrowings is Rs 31.47 lakh crore of which the net tax receipts are Rs 25.57 lakh crore.
58. Scheme to cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters
59. 10,000 fellowships to be provided under the PM Research Fellowship scheme in next five years, for technological research in IITs and IISc
60. Investing in Research, Development and Innovation ₹ 20,000 crore for private-sector driven Research, Development and Innovation initiative announced in the July Budget
61. National Geospatial Mission to be launched to develop foundational geospatial infrastructure and data
62. India ranks second largest globally in fish production and aquaculture. Seafood exports are valued at 60,000 Crore Rupees. To unlock the untapped potential of the marine sector, the government will bring in an enabling framework for sustainable harnessing of fisheries from the Indian exclusive economic zone and high seas with a special focus on the Andaman and Nicobar and Lakshadweep Islands.
63. FastTrack Merger for companies
64. Propose removal of 7 tariff rates over an above those in removed in earlier budget. Only 8 tariff rates to remain after the new move.
65. Fiscal Deficit at 4.4% of GDP
66. Income tax bill next week
67. The threshold limit for TCS on LRS remittances has been increased from ₹7 lakh to ₹10 lakh.
68. The TDS threshold limit on rent has been raised to ₹6 lakh.
69. It is proposed to remove TCS on education loans up to ₹10 lakh from specified financial institutions.
70. The new income tax bill will retain nearly half of the existing provisions and introduce personal income tax reforms with a focus on the middle class. It will also rationalise the tax deducted at source (TDS) and tax collected at source (TCS) regime by reducing the number of rates and adjusting thresholds.
71. TCS on sales removed
72. Scheme to be introduced for determining arm’s length price of international transaction for a block period of three years, to streamline transfer pricing and to provide an alternative to yearly examination
73. Tax exemption to be provided on withdrawals made from National Savings Scheme by individuals on or after 29th August, 2024
74. Compliance burden for small charitable trusts & institutions to be reduced, by increasing their registration period from 5 years to 10 years
75. Taxpayers to be allowed to claim annual value of two self-occupied properties as nil without any condition

1.  Income Tax Budget 2025
2. Income Tax Budget 2025
3. Income Tax Budget 2025
4. Income Tax Budget 2025
5. Income Tax Budget 2025
6. Income Tax Budget 2025
7. Income Tax Budget 2025
8. Income Tax Budget 2025
9. Income Tax Budget 2025
10. Income Tax Budget 2025
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