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BUDGET 2025 Discussion | Your Predictions/Suggestions/Reviews/ Outcomes

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BVC said:
- Major focus on Infra (Railways, Metro, Roadways)
- Some relief for Income tax payers
- Reducing Import Duty on Gold
- Increase in Custom Duty on Mobiles
Click to expand...
tax payer relief only after Tai
Gold duty was reduced in July so chances are low, lets see

I'm expecting LTCG might be increased
 

What Would Be Good for Us:​

Tax Slabs:​

  1. ₹0 to ₹5L – No tax
  2. ₹5L to ₹10L – 5%
  3. ₹10L to ₹20L – 10%
  4. ₹20L to ₹50L – 15%
  5. ₹50L to ₹1 Cr – 20%
  6. ₹1 Cr+ – 25%

Additional Exemptions:​

✅ Abolish the old tax regime
✅ Increase standard deduction to ₹1.5L
✅ Allow Section 80C deductions in the new tax regime & increase the limit to ₹2L
✅ Allow Section 80D deductions in the new tax regime & increase the limit to ₹50K for self & ₹1L for parents
✅ Allow home loan interest deduction in the new tax regime
✅ Reduce TCS rate to a flat 5% (from 20%) on all international transactions, except medical & education

✅ Work with GST Council to introduce a flat 15% GST on all items, except food & medicine (0% to 5%)
✅ Work with RBI to stabilize the USD/INR rate between 70 to 76

But, but, but… NS Tai knows better, so don’t get your hopes up…

Just hoping Tai doesn’t "simplify" income tax the way she did GST for popcorn! 😆
 
TechnoFino said:

What Would Be Good for Us:​

Tax Slabs:​

  1. ₹0 to ₹5L – No tax
  2. ₹5L to ₹10L – 5%
  3. ₹10L to ₹20L – 10%
  4. ₹20L to ₹50L – 15%
  5. ₹50L to ₹1 Cr – 20%
  6. ₹1 Cr+ – 25%

Additional Exemptions:​

✅ Abolish the old tax regime
✅ Increase standard deduction to ₹1.5L
✅ Allow Section 80C deductions in the new tax regime & increase the limit to ₹2L
✅ Allow Section 80D deductions in the new tax regime & increase the limit to ₹50K for self & ₹1L for parents
✅ Allow home loan interest deduction in the new tax regime
✅ Reduce TCS rate to a flat 5% (from 20%) on all international transactions, except medical & education

✅ Work with GST Council to introduce a flat 15% GST on all items, except food & medicine (0% to 5%)
✅ Work with RBI to stabilize the USD/INR rate between 70 to 76

But, but, but… NS Tai knows better, so don’t get your hopes up…

Just hoping Tai doesn’t "simplify" income tax the way she did GST for popcorn! 😆
Click to expand...
Thats one long wishlist
 
TechnoFino said:

What Would Be Good for Us:​

Tax Slabs:​

  1. ₹0 to ₹5L – No tax
  2. ₹5L to ₹10L – 5%
  3. ₹10L to ₹20L – 10%
  4. ₹20L to ₹50L – 15%
  5. ₹50L to ₹1 Cr – 20%
  6. ₹1 Cr+ – 25%

Additional Exemptions:​

✅ Abolish the old tax regime
✅ Increase standard deduction to ₹1.5L
✅ Allow Section 80C deductions in the new tax regime & increase the limit to ₹2L
✅ Allow Section 80D deductions in the new tax regime & increase the limit to ₹50K for self & ₹1L for parents
✅ Allow home loan interest deduction in the new tax regime
✅ Reduce TCS rate to a flat 5% (from 20%) on all international transactions, except medical & education

✅ Work with GST Council to introduce a flat 15% GST on all items, except food & medicine (0% to 5%)
✅ Work with RBI to stabilize the USD/INR rate between 70 to 76

But, but, but… NS Tai knows better, so don’t get your hopes up…

Just hoping Tai doesn’t "simplify" income tax the way she did GST for popcorn! 😆
Click to expand...
Govt. revenue from income tax will fall over 40%-45%
With this, we'll hit debt-gdp ratio of 1 within an year or two

Par afwa kon faila rha hai ki 15L tak NIL tax hoga🤣
 
Aegon said:
Govt. revenue from income tax will fall over 40%-45%
With this, we'll hit debt-gdp ratio of 1 within an year or two

Par afwa kon faila rha hai ki 15L tak NIL tax hoga🤣
Click to expand...
Don't think so... The government will start taxing from ₹5L... They're already offering a tax rebate up to ₹7L. And, a 30% tax is insane! With this structure, middle-class people will have more money in hand and spend more, which will ultimately boost GDP.
 
TechnoFino said:

What Would Be Good for Us:​

Tax Slabs:​

  1. ₹0 to ₹5L – No tax
  2. ₹5L to ₹10L – 5%
  3. ₹10L to ₹20L – 10%
  4. ₹20L to ₹50L – 15%
  5. ₹50L to ₹1 Cr – 20%
  6. ₹1 Cr+ – 25%

Additional Exemptions:​

✅ Abolish the old tax regime
✅ Increase standard deduction to ₹1.5L
✅ Allow Section 80C deductions in the new tax regime & increase the limit to ₹2L
✅ Allow Section 80D deductions in the new tax regime & increase the limit to ₹50K for self & ₹1L for parents
✅ Allow home loan interest deduction in the new tax regime
✅ Reduce TCS rate to a flat 5% (from 20%) on all international transactions, except medical & education

✅ Work with GST Council to introduce a flat 15% GST on all items, except food & medicine (0% to 5%)
✅ Work with RBI to stabilize the USD/INR rate between 70 to 76

But, but, but… NS Tai knows better, so don’t get your hopes up…

Just hoping Tai doesn’t "simplify" income tax the way she did GST for popcorn! 😆
Click to expand...
Bhaiya regarding Tax rate aapki to demand Tai se bhi zyada hai.🤣
Agar sach me ye rate hogye to berozgari kam ho jayegi, kyuki freebies band hone ke karan logo ko kaam karna padega.
 
TechnoFino said:

What Would Be Good for Us:​

Tax Slabs:​

  1. ₹0 to ₹5L – No tax
  2. ₹5L to ₹10L – 5%
  3. ₹10L to ₹20L – 10%
  4. ₹20L to ₹50L – 15%
  5. ₹50L to ₹1 Cr – 20%
  6. ₹1 Cr+ – 25%
Click to expand...
Slabs are too low, even for wishful thinking.

TechnoFino said:
✅ Work with GST Council to introduce a flat 15% GST on all items, except food & medicine (0% to 5%)
Click to expand...
This would be nothing short of political suicide.

This is more of a dream scenario rather than a prediction 😍
 
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