Finance minister Nirmala Sitharaman announced significant tax relief in the Union Budget, raising the nil-tax threshold to Rs 12 lakh, relieving nearly 1 crore taxpayers. She also extended the time frame for filing updated returns to 48 months. The changes signify the government’s response to middle-class concerns and aim to ease bureaucratic hurdles in taxing regimes.
FM describes Budget 2025 as ‘by the people, for the people, of the people’
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