Budget 2025: Higher 87A tax rebate, deduction on home loan, income tax slab and more, what experts demand from FM to boost consumption

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Budget 2025: Higher 87A tax rebate, deduction on home loan, income tax slab and more, what experts demand from FM to boost consumption

//business-finance.news-articles.net/content/202 .. experts-demand-from-fm-to-boost-consumption.html

Published in Business and Finance on Tuesday, January 21st 2025 at 21:40 GMT by MSN

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

Experts demand 87A tax rebate increase, accessible home loans, income tax slabs linked with inflation and others from the FM. A strong case for linking income tax slabs with inflation makes sense now.

2025-01-21 173 x 130 / 5618 Bytes

The article from MSN discusses expectations from Finance Minister Nirmala Sitharaman for the upcoming Budget 2025, focusing on measures to boost consumption in India. Experts suggest several key demands including an increase in the standard deduction from Rs 50,000 to Rs 1 lakh, a revision of the income tax slabs to provide relief to the middle class, and an enhancement of the Section 80C deduction limit from Rs 1.5 lakh to Rs 2.5 lakh. There is also a call for a higher tax rebate under Section 87A, potentially increasing it from Rs 12,500 to Rs 25,000, which would benefit individuals with an annual income up to Rs 7 lakh. Additionally, experts propose an increase in the deduction for home loan interest from Rs 2 lakh to Rs 3 lakh to stimulate the real estate sector. These changes are aimed at increasing disposable income, thereby encouraging spending and economic growth.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/budget-2025-higher-87a-tax-rebate-deduction-on-home-loan-income-tax-slab-and-more-what-experts-demand-from-fm-to-boost-consumption/ar-AA1xzlRb ]