The budget allocation for DRDO has been increased to ₹26,816.82 Cr for FY 2025-26, marking a 12.41% rise from ₹23,855.61 Cr in FY 2024-25.

A significant ₹14,923.82 Cr is earmarked for capital expenditure and R&D, boosting tech development and strengthening the private sector.

*Key Income Tax Updates*:

1. Senior Citizen FD TDS Exemption:

The TDS exemption limit on fixed deposit interest for senior citizens has been increased from ₹50,000 to ₹1,00,000.

2. NPS Vatsalya for 80CCD Deduction:

Contributions under the NPS Vatsalya scheme are now eligible for deduction under Section 80CCD.

3. TDS on Rent:

Tax deduction at source (TDS) will apply on rent payments exceeding ₹6 lakh per year.

4. Notional Rent on Self-Occupied Properties:

No notional rent will be imputed for up to two self-occupied residential properties.

5. Updated Return Filing Period:

Taxpayers can now file an updated income tax return (ITR) for up to four years from the end of the relevant assessment year.

6. Nil Tax Slab Increase in New Regime:

The tax-free income threshold under the new tax regime has been raised to ₹12 lakh, although income from capital gains is not included in this exemption.

Today's Panchang.

DRDO has successfully conducted three successive flight-trials of the Very Short-Range Air Defence System (VSHORADS) from Chandipur off the coast of Odisha.

Hindustan Times

Financial Express

The Hindu

The Economic Times

Devotees continue to arrive at Triveni Sangam ahead of the third and last Amrit Snan of Maha Kumbh 2025 - on Basant Panchami Tomorrow.