Kanika Sharma

2 months ago | newsx.com | Kanika Sharma

In a bold move aimed at supporting the rapidly growing Makhana (foxnut) industry in Bihar, Finance Minister Nirmala Sitharaman announced the formation of a Makhana Board during her Budget speech. This initiative is set to tackle production challenges and improve farmer compensation, propelling the sector to new heights across India.

2 months ago | newsx.com | Kanika Sharma

Finance Minister Nirmala Sitharaman’s recent Budget announcement has raised the income tax rebate limit under Section 87A to Rs 12 lakh, offering substantial relief to middle-class taxpayers. As a result, resident individuals with a net taxable income up to Rs 12 lakh will not have to pay any income tax. This update benefits approximately 1 crore additional salaried Indians.

2 months ago | newsx.com | Kanika Sharma

In a significant move, the Finance Minister has announced a reduction in customs tariffs for jewellery and platinum findings, effective from February 2, 2025. This change, part of the annual Budget 2025, aims to stimulate consumption and strengthen the domestic gems and jewellery market. Advertisement · Scroll to continueKey Changes in Customs TariffJewellery and Parts (HSN Code 7113): The customs tariff on jewellery and its parts has been slashed from 25% to 20%.

2 months ago | newsx.com | Kanika Sharma

The Union Budget 2025 has introduced significant changes to the income tax structure, offering relief to middle-income earners and simplifying tax calculations for individuals. Finance Minister Nirmala Sitharaman’s announcement of no tax for individuals earning up to Rs 12 lakh is among the most notable changes. Here’s a look at the revised income tax slabs and the key takeaways from the new tax regime for the assessment year (AY) 2025-26.

2 months ago | newsx.com | Kanika Sharma

In a bold move to provide financial relief to the middle class, Finance Minister Nirmala Sitharaman unveiled sweeping tax reforms in the Union Budget for FY26. The announcement of no income tax up to Rs 12 lakh per annum under the new tax regime is set to significantly ease the financial burden on millions of taxpayers.