No change in tax rates this year, announces FM Nirmala Sitharaman

New-Delhi: Finance Minister Nirmala Sitharaman announces that the tax slab rates unchanged for both the new and old income tax regime.

“As for tax proposals, in keeping with the convention, I do not propose to make any changes relating to taxation and propose to retain the same tax rates for direct taxes and indirect taxes including import duties,” she added.

Sitharaman announced that the government proposes to withdraw tax demand of up to Rs 25,000 up to 2009-10, to benefit 1 crore taxpayers.

Later,the Centre announced to extend tax benefits for startups and investments made by sovereign wealth and pension funds to March 2025.

Certain tax benefits to startups and investments made by sovereign wealth or pension funds as also tax exemption on certain incomes of some International Financial Services Centre (IFSC) units are expiring on March 31 this year.

“To provide continuity, I propose to extend the date to 31.3.2025,” said Finance Minister Nirmala Sitharaman while presenting the Interim Budget on Thursday.

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