
Excel in Money by CA Isha
February 3, 2025 at 09:15 AM
Important Budget Update 💸
Here’s everything you need to know about the latest tax changes:
➡️ For Salaried Employees: If you earn ₹12.75 lakh a year, you can claim a ₹75K standard deduction and get tax rebates up to ₹12L.
But if your income goes higher, the rebate benefit is gone!
➡️ For Business Owners: Tax calculation is different for you! If your income is ₹15 lakh, here’s how tax is charged:
• First ₹4L – No tax
• Next ₹4L – 5%
• Next ₹4L – 10%
• Remaining ₹3L – 15%
As your income increases, the tax slabs change too.
➡️ Cryptocurrencies, NFTs, and tokens are now officially recognized. Big step for digital investments! 🚀
➡️ Tenants only need to deduct TDS if the yearly rent is more than ₹6 lakh. Such a relief for renters! 🏠
➡️ Made an error in your tax return? You now have 48 months to update it. Don’t wait—fix it now! ⏳
And here's the reel to sum it up: https://www.instagram.com/reel/DFh_Dp0T4Cf/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==
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