Tag: Standard Deduction

Union Budget 2026 Income Tax Changes Live Updates New Tax Slabs Rates Latest Updates

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FM Sitharaman says, “Given that this is the first Budget prepared in Kartavya Bhavan, we are inspired by 3 kartavya. First kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. Second kartavya is to fulfill aspirations of our people and build their capacity, making…

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What Is Standard Deduction And How It Benefits Taxpayers

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What Is Standard Deduction And How It Benefits Taxpayers

With the Union Budget 2025 set to be presented on February 1, Finance Minister Nirmala Sitharaman faces mounting expectations for tax relief as inflation rises and disposable income shrinks. Among the most anticipated measures is an increase in the standard deduction, a tax break that provides relief to salaried individuals. Experts are pushing for a…

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