Finance Minister Nirmala Sitharaman will present the Union Budget 2025 on February 1, 2025. The budget speech is scheduled to start at 11:00 AM in the Lok Sabha.
You can watch the live broadcast on Doordarshan, Sansad TV, and the Parliament’s official channels. The budget will also be streamed on the government’s official YouTube channels.
The Budget 2024, presented on July 23, 2024, after the general elections, brought significant changes to personal finance, especially for taxpayers. Let’s revisit these changes and their implications as we prepare for the upcoming Budget 2025.
Taxpayers owning properties purchased before July 23, 2024, were given 2 options:
For salaried individuals, the standard deduction was surged from ₹50,000 to ₹75,000, providing additional tax relief.
The deduction limit for family pensions increased from ₹15,000 to ₹25,000, benefiting pensioners.
Angel tax, previously imposed on certain investors, was removed for all classes of investors, promoting investment opportunities.
A revised tax slab structure was introduced under the new tax regime:
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 28, 2025, 9:17 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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