Brief by Shorts91 Newsdesk / 01:05pm on 01 Feb 2025,Saturday India
Finance Minister Nirmala Sitharaman announced in Budget 2025 that the annual limit for Tax Deducted at Source (TDS) on rent will increase from ₹2.40 lakh to ₹6 lakh. She also proposed extending the time to file updated tax returns from two years to four years. Tax Collected at Source (TCS) on education-related remittances will be exempt if the loan is from a recognised financial institution. Senior citizens will get a higher tax deduction on interest income, now doubled to ₹1 lakh. The budget also extends tax benefits for startups by five more years.
