In a move that had Parliament buzzing, Finance Minister Nirmala Sitharaman announced a series of tax reliefs, with the crowd bursting into applause and chanting “Modi Modi” right after. The big news? No income tax for anyone earning up to Rs 12 lakh—cheers all around!
But that’s not all. Senior citizens can now enjoy a higher tax-free interest limit of Rs 1 lakh. The TDS threshold on rent is also up to Rs 6 lakh, making life a little easier for both tenants and landlords. And for families sending kids abroad for studies, the removal of TCS on education-related remittances is a game-changer.
In addition, the Finance Minister revealed that higher TDS will only apply if you don’t have a PAN card—no PAN, no problem! Plus, the deadline to file tax returns has been extended to four years. More time, less stress.
It’s clear these announcements are a big win for taxpayers, simplifying the process and leaving many with a smile on their faces. The applause in Parliament says it all: this budget is looking like a crowd-pleaser, as people reacted on social media.