Financial Budget 2025-26

Key Highlights from Finance Bill 2025 for Individuals! 💰

Get ready for some changes in your taxes! Here's a breakdown of the key highlights from the Finance Bill 2025 impacting individuals, effective from 1st April 2026:

✅ 1. New Income Tax Slabs: 📊

Say goodbye to the old slabs!  A new structure is coming:
₹0 - ₹4,00,000 – No tax 🥳
₹4,00,001 - ₹8,00,000 – 5% 😊
₹8,00,001 - ₹12,00,000 – 10% 🤔
₹12,00,001 - ₹16,00,000 – 15% 🧐
₹16,00,001 - ₹20,00,000 – 20% 😥
₹20,00,001 - ₹24,00,000 – 25% 😓
Above ₹24,00,000 – 30% 😨

✅ 2. Increased Rebate under Section 87A: 🤩

More money in your pocket!

Rebate limit increased to ₹12,00,000 🎉
Maximum rebate up from ₹25,000 to ₹60,000 🥳
Rebate gradually phases out if income slightly exceeds ₹12,00,000.

✅ 3. Capital Gains Tax Amendments: 📈

Some tweaks to capital gains:

LTCG Tax increased from 10% to 12.5% for certain securities.
ULIP tax exemptions modified – some gains now taxed as capital gains.

✅ 4. Extended Time for Filing Updated Returns: ⏰

More time to file! The ITR filing window is extended from 24 months to 48 months.

✅ 5. TDS Changes: 💸

Changes to Tax Deducted at Source:

Mutual Fund Dividends: Exemption limit raised from ₹5,000 to ₹10,000.
Professional Fees (Sec 194J): Threshold increased from ₹30,000 to ₹50,000 per month.

✅ 6. Tax Benefits for Startups: 🚀

Good news for startups!

100% tax exemption on profits for eligible startups for 3 out of 10 years.
Extension till 31st March 2030.

✅ 7. Standard Deduction: 👍

Remains unchanged at ₹75,000 for salaried employees under the New Tax Regime.

✅ 8. Higher Additional Tax on Late Updated Returns: ⚠️
File on time to avoid penalties!  Additional tax for late updated returns:
Within 12 months – 25% extra
12-24 months – 50% extra
24-36 months – 60% extra
36-48 months – 70% extra

#FinanceBill2025 #IncomeTax #India #TaxUpdates #PersonalFinance

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