Finshots Daily The Budget simplified
13 snips
Feb 2, 2025 Dive into the key highlights of Budget 2025, where new tax exemptions for individuals earning up to Rs.12 lakh make waves. Explore the economic impact of changes in direct and indirect taxes, especially for senior citizens and landlords. Discover groundbreaking reforms aimed at boosting foreign investment and supporting gig workers. Unpack India's strategies for growth with plans for debt reduction and infrastructure expansion, reflecting a balance between financial discipline and ambitious development initiatives.
AI Snips
Chapters
Transcript
Episode notes
Buy Term Insurance
- Secure your family's financial future by buying term insurance, especially if you're young.
- Premiums are nominal at 10-15k per year for a 1 crore cover.
New Tax Regime Rebate
- Under the new tax regime, no tax is due if income is up to ₹12 lakhs due to the Section 87A rebate.
- This doesn't apply to capital gains income, which is taxed separately.
NPS Vatsaliya Tax Benefit
- A new tweak in the old tax regime allows for tax reduction up to ₹50,000 on contributions to NPS Vatsaliya scheme.
- This is similar to the regular NPS.