Budget 2025: Today, Sharma ji’s house is bright in the country’s house. Everyone is happy Laddu himself is bursting in Sharma ji’s mind. The elder son is very much chirping. Sir, he used to earn 10 lakhs and lose more in tax. The same dry-dry salary and the middle class pain of tax burden. Zero and tax cut in the year are cut apart. In the budget, what was the income tax free of up to 12 lakhs, Sharma ji’s son has started becoming a future plan. Around 80 thousand will be saved. The son is hoping that the salary will come close to 12 and the cream of 100 % of the tax exemption will come.
Sharma himself is also smiling in his heart. The lines below the Finance Minister’s budget speech are reading again and again.
‘I propose to make the number of TDS rates and limits less rational. Apart from this, the amount of amount for TDS is being increased for better clarity and uniformity. The tax deduction limit on interest for senior citizens is being doubled from `50,000 to` 1 lakh. Similarly, the annual limit for TDS on rent has been increased from `6 lakhs from 2.40 lakhs to` 6 lakhs. This will reduce the number of transactions with TDS liability and small tax payers will be benefited.
Actually, Sharma ji had got FD of the capital found in retirement. He was running his work with interest. Good news for them has come that a tax exemption of 50 thousand has been doubled on interest. Now no tax Sharma ji will pay on the interest of 1 lakh, but the Finance Minister has given laddus in both hands of Sharma ji. The tax limit on rent has been increased from Rs 2.4 lakh to six lakh rupees.
Sharma ji has a big land in the village. The Finance Minister has done something that Sharma ji has also started remembering him. Actually, nothing is born on Sharma ji’s land. No one else takes that land to cultivate that land itself. The land is such a place that we cannot even sell. The second forefathers also have to go up and show their mouths. So there is land, but income is nothing. In the budget, the Finance Minister has launched the scheme to focus 100 such districts, where there is a low yield or where the irrigation system is the worst. Now Sharma ji feels that if the village land also becomes fertile, then some money will start coming.
The budget has also shown Sharma the dream of a new electric car. Had bought a car during job days. His registration is about to end next year. Sharma ji had left the intention of taking the car. By the way, Sharma is living fond of cars. Even though the cheapest cars are used in your life, the car used to change in five-seven years. This time the car left for a long time due to retirement. Seeing electric cars, Sharma ji’s mind used to lure, but wondered whether the electric vehicle should not be given to take it. At the same time, Tension used to go to Tension for the future of petrol and diesel car. So, the car’s dream was given to the dream. Now, when the Finance Minister proposed to increase the fee exemption on the capital goods used in the production of lithium-ion batteries, the desires of Sharma woke up. They understood that if the battery becomes cheap, then the electric car will also be cheaper and also to use it.
The elder son is jumping. Here, the income tax got free time and at the same time it was announced to reduce the custom duty on foreign bikes. Since when had the dream of a foreign bike, but due to custom duty, the dream remained a dream. Now it seems that the dream can become a reality. The younger son was left with medical three times. If the Finance Minister announced to add 10,000 medical seats by next year and to add 75,000 medical seats in the next five years, its courage has been again encouraged. He is making up his mind to prepare again. Do you know that he should be admitted by next year. Otherwise, you will get a job in an MSME.