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KUDOS TO THE ICAI, UP! 🙌

For providing accommodation to the #MahaKumbhMela2025 yatrigan!!

This would be very helpful so share as much as possible with those CA Aspirants or their parents go for #MahaKumbhMela2025

3 weeks left for Jan-25 results! 🎓
3 months left for May-25 exams! 👍

MEMORANDUM OF FINANCE BILL, 2025

NEW SLAB TAX RATES
0-4L NIL
4-8L 5%
8-12L 10%
12-16L 15%
16-20L 20%
20-24L 25%
24L ABOVE 30%

Other than Capital Gains

🚀 Budget 2025: Summary
The government’s focus in the budget is on development 📈...
Global growth slightly affected due to global tensions 🌍⚡️...
The budget emphasizes 10 key themes 🏗...
More focus on the development of the poor 🏡, women 👩‍💼, and youth 👨‍🎓...
Increased emphasis on rural development 🚜 and manufacturing 🏭...
More reforms to be introduced in the financial sector 💰...

🔹 Key Announcements:

✅ Dhan Dhanya Yojana 🌾 to be launched in 100 districts...
✅ Special 6-year mission for Tur, Urad, and Masoor dal 🌱...
✅ Makhana Board 🍘 to be set up in Bihar...
✅ Central agencies 🏢 to purchase pulses for 4 years...
✅ New schemes 🌱 for vegetable and fruit 🍏 production in collaboration with states...
✅ Development of the marine sector 🐟...
✅ Kisan Credit Card 💳 limit increased to ₹5 lakh...
✅ Urea plant 🏭 to be set up in Assam...
✅ India Post 📦 to be developed as a major logistics organization 🚚...
✅ Special credit card 💳 for small businesses...
✅ Self-reliance in edible oils 🛢...
✅ Special schemes for footwear 👞 and leather 👜...
✅ India 🇮🇳 to become a global hub for toys 🧸...
✅ Special scheme for women from backward classes 👩‍👩‍👧‍👦...
✅ 22 lakh new jobs 🏢👷 to be created under the Leather Scheme...
✅ Launch of the National Manufacturing Mission 🏗...
✅ Increased emphasis on Indian languages 📖 in education...
✅ More IIT institutes 🎓 to be established...
✅ 75,000 new seats 🏥 in the medical field in the next 5 years...
✅ Special AI 🤖 research centers to be set up...
✅ Health insurance 🏥💊 scheme for small workers...
✅ UPI-linked card 💳 for small vendors...
✅ UPI-linked credit card limit set at ₹30,000 💰...
✅ Interest-free funds 🏗💵 for states to boost infrastructure development...
✅ ₹1 lakh crore fund 💰 announced for urban development 🏙...
✅ Increased focus on nuclear energy ⚛️ by 2047...
✅ Special scheme for nuclear energy ⚛️...
✅ Special scheme for the ship-breaking industry 🚢⚙️...
✅ More cities 🏙 to be connected under the ‘Udaan’ 🛫 scheme...
✅ New airport ✈️ to be constructed in Bihar...
✅ 40,000 housing units 🏡 to be built under the SWAMIH scheme...
✅ 52 new tourist destinations 🏝 to be developed in collaboration with states...
✅ New mining policy ⛏️ to be introduced...
✅ ₹20,000 crore investment 💰 in R&D 🔬 for the private sector...
✅ All government secondary schools 🏫 to be connected with broadband 🌐...
✅ New schemes to boost exports 📦...
✅ Buddha-related sites 🏯 to be developed...
✅ Special scheme for preserving Indian scripts 📜...
✅ Easier access to funds 💵 for export promotion...
✅ New Income Tax Bill 📜 to be introduced next week...
✅ 100% FDI limit 🌍 in the insurance sector 🏦...
✅ Simplification of RE-KYC process 📑...
✅ 100% FPI limit 📊 in the insurance sector...
✅ Custom duty removed 🚫💊 on 36 life-saving medicines...
✅ Changes in custom duty on electronic goods 📱...
✅ No primary duty on lead & zinc ⚒️...
✅ Duty removed 🚫 on crust leather 👜...
✅ New, simplified Income Tax law 🏦📜 to be introduced...
✅ TDS rates to be made simpler 📉...
✅ Major tax relief for senior citizens 👴👵...
✅ Tax exemption limit for senior citizens increased to ₹1 lakh 💰...
✅ TDS exemption limit on rent 🏠 increased to ₹6 lakh...
✅ No penalty 🚫 on delayed TCS payments...

Biggest Announcement No tax on income up to ₹12 lakh

INCOME TAX BILL IS STILL PENDING!! 💀☠

(Reason: Election in Delhi on 5th February)

Top 75 Highlights of Budget 2025 By FM Nirmala Sithraman

1. No Income Tax upto Income of Rs 12 Lakhs, New Slab Rates for all Taxpayers benfiting Middle Class
2. FM propose to introduce the New Income Tax Bill next week
3. New Bill be Half of the present Income Tax law in terms of chapters and words
4. TDS on Senior Citizen Rs 1 lakhs plus on interest TDS on Rent Rs 6 Lakhs onwards
5. 90 Lakhs filed updated returns Now you can file Income Tax Returns for past 4 years in ITR U
6. The focus is on inclusive development and boosting middle-class spending.
7. Budget aims to accelerate growth and unlock the nation’s potential.
8. Budget will initiate reforms in primarily 6 domains — taxation, urban development, mining, financial sector, power and regulatory reforms.
9. Plant with annual capacity of 12.7 lakh metric tons to be set up at Namrup, Assam
10. 3 dormant urea plants in the Eastern region had been reopened
11. Investment limit for #MSME classification to be made 2.5 times. Turnover limits for MSME classification to be doubled
12. Government to provide support to National Cooperatives Development Corporation for its lending operations for cooperative sector
13. Kisan Credit Card: Facilitates loans for 7.07 crore farmers. Loan limit will be increased from Rs3 lakh to Rs5 lakh under KCC
14. Boosts Footwear, Leather & Toys Industry!
15. New scheme for footwear & leather sector to create 22 lakh jobs, ₹4L Cr revenue & ₹1.1L Cr+ exports.
16. Toys sector to get a dedicated scheme to make India a global manufacturing hub!
17. Announces 5-year mission to promote cotton production
18. 5 national centres will be set up for skilling in partnerships in manufacturing. Expansion of capacity in IITs - 100% increase in last 10 years. Additional infra will be created for 6500 more students in new IITs.
19. New Fund of Funds for Startups to be set up
20. Fresh contribution of another ₹ 10,000 crore, in addition to existing government contribution of Rs. 10,000 crore.
21. New Scheme for 5 lakh Women, Scheduled Castes and Scheduled Tribes first-time entrepreneurs
22. Centre of excellence in #AI for education to be set up with outlay of Rs. 500
23. To add 75000 medical seats in next 5 years
24. The government will establish a national institute of food technology, entrepreneurship and management in Bihar.
25. Centre will launch a 6-year programme for Atamnirbharta in pulses
26. Credit guarantee cover to be enhanced for MSMEs and start-ups
27. 75 thousand seats will increase in IIT
28. Cancer hospital will open in every district Broadband facility will be available in primary schools
29. The government will create a ₹1 lakh crore Urban Challenge Fund aimed at transforming cities into growth hubs. The fund will finance 25% of the cost of bankable projects, with an allocation of ₹10,000 crore for 2025-26.The remaining 50% will be funded through bonds, bank loans, and public-private partnerships (PPPs).
30. FM announces Dhan Dhanya Krishi Yojna in partnership with states. Scheme to cover 100 Districts. Says 1.7 crore farmers will be benefited.
31. A new scheme has been launched to offer term loans with a five-year tenure, benefiting 5 lakh women from SC/ST communities.
32. The Finance Minister announced a dedicated scheme for India’s footwear and leather sector, expected to generate employment for 22 lakh individuals, achieve a revenue of ₹4 lakh crore, and boost exports to over ₹1.1 lakh crore.
33. For the toys sector, the government will implement a scheme to make India a global manufacturing hub.
34. Saksham Anganwadi and Poshan 2.0 programs will provide vital nutritional support to 8 crore children, 1 crore mothers, and 20 lakh adolescent girls, focusing on lactating women, adolescent girls, and children.
35. 50.000 Atal Tinkering Laboratories (ATLs) will be set up in government schools in the next 5 years to foster scientific temper in young minds. Broadband connectivity is to be provided to all secondary schools.