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From new slabs to crypto tax: 10 key tax reforms in recent Union Budgets

Business Standard LogoBusiness Standard4h ago

From new slabs to crypto tax: 10 key tax reforms in recent Union Budgets - Business Standard

Quick Summary:

Union Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 today, marking her eighth consecutive Budget presentation, including the interim Budget last year.

Higher standard deduction (Budget 2024): The standard deduction for salaried employees under the new tax regime was increased from Rs 50,000 to Rs 75,000.

Revised timeframe for assessment reopening (Budget 2021): The period for reopening income tax assessments was reduced from six years to three years.

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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-01 @ 09:51:03 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 25686767

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 322 posts per day

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News Last Updated: 2 hours ago

Coverage Areas: India

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Publisher ID: #49

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