Expectations

Currently, India allocates approximately 1.5% of its GDP to healthcare, far below the global average of 3.5%.

Updated : Jan 18, 2025

Budget 2025: Healthcare sector looks to tax reforms and innovation push

A uniform Goods and Services Tax (GST) rate of 12% on medical devices is also a key demand. Currently, GST rates on medical devices range from 5% to 18%, creating complications for manufacturers and distributors.

Updated : Jan 15, 2025

'Healthcare is not a luxury...': Kiran Mazumdar-Shaw calls for weighty allocation in Budget 2025

In Budget 2024, the Centre did not meet the goal outlined in its National Health Policy 2017 to allocate a minimum of 2.5% of GDP to healthcare.

In March 2024, the Cabinet approved an allocation of over Rs 10,300 crore for the India AI Mission.

Updated : Jan 14, 2025

Budget 2025-2026: AI Could Get Special Mention by FM Nirmala Sitharaman in Budget

In March 2024, the Cabinet approved an allocation of over Rs 10,300 crore for the India AI Mission

Experts have pointed out that the middle class continues to bear the brunt of India’s high taxation without significant relief over the past decade.

Updated : Jan 13, 2025

“Budget should come with relief...’: Tax expert says else ‘middle class is in problem’

With a little over two weeks to go for the Union Budget 2025, voices calling for tax relief for the country’s middle class are becoming increasingly vocal.

India is amongst the 140 countries that have signed the OECD’s Global Anti Base Erosion Model Rules for Pillar Two.

Updated : Jan 9, 2025

Budget 2025-26: Companies await clarity on India’s stance on Pillar Two rules

India seen to be in wait and watch mode after Trump election, does not see too much revenue gains

The industry is now poised for further growth in 2025, driven by key reforms and increasing consumer awareness.

Updated : Jan 6, 2025

Union Budget 2025: Wish list from the insurance sector

Irdai set to broaden insurance penetration in the country by leveraging major policies such as Bima Sugam, Bima Vahak and Bima Vistaar, and take it to 4.5% of GDP by 2034.

TV Mohandas Pai asked the Centre and FM Sitharaman expand the tax slabs and offer some relief to middle-class income taxpayers.

Updated : Jan 4, 2025

Income tax relief: How much tax can be saved if FM Nirmala Sitharaman follows Mohandas Pai's proposal?

In a post on X, Pai has appealed to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to revise tax slabs to offer relief to the middle class.

Currently, homebuyers are required to withhold 1% of the property purchase value as TDS if the property is valued at Rs 50 lakh or more.

Updated : Jan 3, 2025

Budget 2025: Deloitte asks for simpler TDS terms for NRIs selling houses in India

Tax Deducted at Source (TDS) is a tax withheld from your earnings at the source before being received by you. Non-resident Indians (NRIs) frequently encounter higher TDS rates compared to resident Indians, leading to excessive deductions.

Fixed deposits have long been a preferred investment option for Indians. Nearly 15% of household savings still find their way into FDs.

Updated : Jan 3, 2025

Budget 2025: Financial sector seeks tax benefit on fixed deposits, long-term savings

During a meeting with representatives from the financial sector, FM Sitharaman discussed the recommendation from banks to introduce tax incentives for fixed deposits (FDs) as a way to encourage savings leading up to the Union Budget 2025.

In Budget 2024, FM Sitharaman offered some relief to salaried taxpayers in terms of TCS and TDS.

Updated : Jan 2, 2025

Union Budget 2025: Will FM Sitharaman look at simplifying TDS-TCS regime further this time?

Budget expectations: FICCI in its recommendations for the Union Budget 2025 emphasized the need for tax reforms to enhance the ease of doing business and reduce complexity in the system.

Mohandas Pai said the Centre and state spend more than Rs 900,000 cr of subsidies in India for bottom 60% but middle class bears most burden of tax.

Updated : Jan 1, 2025

Union Budget 2025: Infosys ex-CFO Mohandas Pai calls for relief to 'long suffering' middle class taxpayers

Mohandas Pai, the ex-CFO of Infosys, advocated for a decrease in personal income tax rates in order to boost disposable income for the middle class. He emphasized the need for the Finance Ministry to provide relief to the "honest middle class" taxpayers, who lack the same support as the lower-income class and often do not receive adequate relief measures.

This year, senior citizens are also hoping for an increase in the tax exemption limits under the old and the new tax regime.

Updated : Jan 1, 2025

Union Budget 2025: Can FM Nirmala Sitharaman consider these incentives for senior citizens to offer relief

Senior citizens are eagerly anticipating the announcement of tax concessions in the upcoming period. The elderly population is in need of relief as their expenses, particularly on healthcare and living costs, are on the rise.

The STT is a tax imposed on the purchase and sale of stocks and other securities on Indian stock exchanges.

Updated : Dec 31, 2024

Union Budget 2025: PHDCCI asks FM Sitharaman to remove Securities Transaction Tax

In the full Budget 2024, FM Sitharaman announced an increase in the STT rate for equity and index traders from 0.01% to 0.02%. This adjustment will result in traders having to pay twice the amount of tax for their trades.

The Union Budget 2024 maintained the Old Tax Regime while making enhancements to the New Tax Regime to increase its acceptance.

Updated : Dec 31, 2024

Budget 2025: Will the government give some major income tax relief this time?

For Union Budget 2025, representatives from India's industry bodies and economists are advocating for a decrease in personal income tax rates from the Finance Minister.

An HUF is taxed separately from its members, allowing it to claim deductions and exemptions under tax laws independently, including those under Section 80.

Updated : Dec 28, 2024

Budget 2025: Will there be tweaks for Hindu Undivided Families in terms of tax savings?

Personal taxes: The income tax rate for HUFs is the same as for individuals, with an exemption threshold of Rs 2.5 lakh and eligibility for tax benefits under various sections like 80C, 80D, 80G, and others.

Investors have been anticipating FM Sitharaman to streamline the capital gains tax structure by aligning tax rates across various sub-asset classes.

Updated : Dec 27, 2024

Budget 2025: Will FM Nirmala Sitharaman simplify taxation on mutual funds to encourage investment?

The taxation of mutual funds depends on the type of mutual fund (equity and debt) and the duration of the investment. In Budget 2024, the long-term capital gains (LTCG) tax on equity funds has been raised from 10% to 12.5%, while the short-term capital gains (STCG) tax has increased from 15% to 20%.

Under the Old Tax System, tax rates are higher, but various exemptions and deductions are available.

Updated : Dec 27, 2024

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