Income tax new slab expanded from 7 lacs to 12 lakhs
🚨 Top Highlights of Union Budget 2025-26 🚨 Here’s a quick snapshot of the key announcements, with a special focus on tax reforms: 📌 Tax Reforms ✅ No Income Tax for income up to ₹12 lakh under the new regime. ✅ Two Self-Occupied Properties can now be valued at Nil for tax purposes (up from one). ✅ TDS Threshold on Rent raised to ₹6 lakh (from ₹2.4 lakh). ✅ TCS on Education Loans up to ₹10 lakh removed for loans from specified financial institutions. ✅ Time Limit for Updated Returns extended from 2 years to 4 years. ✅ New Income Tax Bill to be introduced next week, focusing on simplification and ease of compliance. ✅ TDS/TCS Rationalization: Reduced number of rates and adjusted thresholds to benefit the middle class. ✅ Faceless Assessment and Taxpayer Charter t...