The cabinet also approved a proposal worth Rs 21,630 crore for the Chief Minister Majra-Tola Road Scheme, aimed at providing all-weather connectivity to remote settlements in Madhya Pradesh. The scheme will be implemented in two phases from 2025-26 to 2034-35, covering approximately 30,900 k
The Finance Committee will discuss cancelling the tax exemption on duty-free tobacco, while the Economy Committee will review regulations mandating graphic health warnings on cigarette packs.
The Department for Promotion of Industry and Internal Trade (DPIIT) has approved 187 startups for income tax exemption under the revamped Section 80-IAC of the Income Tax Act.
Union Minister Ramdas Athawale expressed his wholehearted support for the biographical film 'Phule' during a special screening held on May 1, 2025, in Mumbai.
The International Monetary Fund (IMF) has turned down Pakistan's request for tax exemptions on foreign investment projects, as reported by the Express Tribune.
In Union Budget for 2025-26 income tax exemption limit has been extended from Rs 7 lakh to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class.
The Municipal Corporation of Delhi (MCD) has clarified that all property owners and occupiers must pay property tax as per existing laws, dismissing any claims of exemptions for Delhi residents.
Pakistan's Ministry of Industries and Production had recommended the tax relief to boost EV adoption. However, the global lender opposed the decision and stressed that sales tax on raw materials for EVs should not be removed.
Real estate leader Niranjan Hiranandani said affordable housing segment will get yet another boost with the reduction in repo rate by the RBI monetary policy committee.
"In the last 10 years, we have enhanced savings of the middle class by reducing Income Tax. Before 2014, such 'bombs' were hurled and 'bullets' were shot, that it affected the lives of people. We gradually healed those wounds and moved forward," the PM said.
Union Budget raising the income tax exemption limit to Rs 12 lakh is expected to give a big boost to the demand of 2-wheelers (2Ws) and passenger vehicles (PVs) according to a report by the global brokerage firm Jefferies.
"I welcome the budget presented by Finance Minister Nirmala Sitharaman. I welcome all the proposals, especially the income tax exemption for those earning up to Rs 12 lakh. This is a huge relief to the middle and lower-middle class, and I thank her for this," Sarma said.