coffee_rules Posted February 1, 2025 Posted February 1, 2025 (edited) Best freebie for middle class till now since 1947. Mastersteoke @Lord @Lone Wolf Under the new regime, there is no tax on income up to Rs 12 lakh, and no tax on income up to Rs 12.75 lakh for salaried people, due to the standard deduction of Rs 75,000. https://www.ndtv.com/india-news/budget-2025-live-new-income-tax-slabs-how-much-do-you-save-7609982/amp/1 Nimmo tai maaf karna galti maare se ho gai.. Edited February 1, 2025 by coffee_rules
Teengunalagaan Posted February 2, 2025 Posted February 2, 2025 15 hours ago, bharathh said: Applicable for anyone that earns 12+ lakhs. Exemption only applicable for those with incomes of 12 lakhs or less and on the new tax regime. I still use the old tax regime - so no change for me. Exactly, I was so happy when she said no tax till 12 lakhs, then she started saying tax slabs, I was like wtf.. Do pal ki Khushi
bharathh Posted February 2, 2025 Posted February 2, 2025 16 hours ago, Lord said: so if I am earning 13 lakhs, tax will be 15% on basis of slabs, no? How do first two slabs apply if below 12 lakhs there is no tax for everyone Moral of the story - don't earn more than 12 lakhs. Looks like a lot of people are going to want cash once they approach the 12 lakhs salary bracket from here on. Awesome for all the professional cadre like CAs, Doctors, Lawyers etc. They can increase their white component salaries to 12 lakhs now instead of showing that they only earn 3 lakhs while driving Audis and Mercs. raki05 1
bharathh Posted February 2, 2025 Posted February 2, 2025 Tax calculator - https://www.indiatoday.in/business/tools-and-calculators/income-tax-calculator ravishingravi 1
ravishingravi Posted February 2, 2025 Posted February 2, 2025 1 hour ago, bharathh said: Moral of the story - don't earn more than 12 lakhs. Looks like a lot of people are going to want cash once they approach the 12 lakhs salary bracket from here on. Awesome for all the professional cadre like CAs, Doctors, Lawyers etc. They can increase their white component salaries to 12 lakhs now instead of showing that they only earn 3 lakhs while driving Audis and Mercs. Doctors, lawyers anc other professional don't fall under salaried class.
bharathh Posted February 2, 2025 Posted February 2, 2025 1 hour ago, ravishingravi said: Doctors, lawyers anc other professional don't fall under salaried class. Agree. That's why I said 12lakhs and not 12.75 lakhs.
ravishingravi Posted February 2, 2025 Posted February 2, 2025 1 hour ago, bharathh said: Agree. That's why I said 12lakhs and not 12.75 lakhs. Doing cash transactions won't be easy. It's not pre 2016. Tax dept also has serious armoury. So my sense is that scrutiny will be much higher. This actually puts additional burden on tax dept to make tax collection.
bharathh Posted February 2, 2025 Posted February 2, 2025 2 minutes ago, ravishingravi said: Doing cash transactions won't be easy. It's not pre 2016. Tax dept also has serious armoury. So my sense is that scrutiny will be much higher. This actually puts additional burden on tax dept to make tax collection. They should crack down on all the "businesses" that show loss every year and yet their owners live the high life. Tax base is there to be taken. I was hoping that with UPI there would be more fraud detection. I don't think they have done much there IMO. ravishingravi 1
Lord Posted February 2, 2025 Author Posted February 2, 2025 9 hours ago, coffee_rules said: Best freebie for middle class till now since 1947. Mastersteoke @Lord @Lone Wolf Under the new regime, there is no tax on income up to Rs 12 lakh, and no tax on income up to Rs 12.75 lakh for salaried people, due to the standard deduction of Rs 75,000. https://www.ndtv.com/india-news/budget-2025-live-new-income-tax-slabs-how-much-do-you-save-7609982/amp/1 Nimmo tai maaf karna galti maare se ho gai.. My salary crossed 13 L last year coffee_rules 1
G_B_ Posted February 2, 2025 Posted February 2, 2025 31 minutes ago, Lord said: My salary crossed 13 L last year Taxes are marginal... Lord 1
coffee_rules Posted February 2, 2025 Posted February 2, 2025 6 hours ago, Lord said: My salary crossed 13 L last year Ty to lakhpati hain. Next year you will have 115k more in your pocket Lord and ravishingravi 1 1
Lone Wolf Posted February 4, 2025 Posted February 4, 2025 (edited) Babus and jernails have completely wrecked India's defence ecosystem @Gollum No wonder IAF is crying that it's on ventilator. PAF almost matching IAF in 1/10th of its defence budget Then we get surprised how the heck feb 29 2019 happened .. f**k this sh*t man Edited February 4, 2025 by Lone Wolf Gollum 1
Lone Wolf Posted February 4, 2025 Posted February 4, 2025 Good god the latest update seems that 2 Squadrons of JF-17 Block 3 already inducted and 3rd squadron is delayed as those jets will be transferred to Azerbaijani airforce. Total JF-17 are almost 200 now. Our Jernails busy drinking rum sending Kids to phoren lands & babus enjoying babudom.
G_B_ Posted February 15, 2025 Posted February 15, 2025 Inflation at 4.6% means more rate cuts. The gamble of giving tax cuts appears to be paying off. Usually we will know true impact by June. Trump tarriffs too will be in full swing.
BacktoCricaddict Posted February 15, 2025 Posted February 15, 2025 On 2/2/2025 at 12:40 AM, bharathh said: They should crack down on all the "businesses" that show loss every year and yet their owners live the high life. I get that you are talking about India, but this tactic is also the Amreekan way. It is exactly how POTUS lived his entire life - running multiple companies into bankruptcy, filing for bankruptcy protection to get away from paying creditors back, all while always living the high life. All legally, of course :-) Quote https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019 Trump "put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses, and other payments. "The burden of his failures," according to the newspaper, "fell on investors and others who had bet on his business acumen." Bottom line: People are stupid and fall for bluster.
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