The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

On February 4, Indian stock markets experienced a strong rally as the Sensex and Nifty surged following positive global cues and optimism surrounding a potential rate cut by the Reserve Bank of India. The Sensex opened at 77,687.60 and gained over 700 points to reach 77,952, while the Nifty 50 opened at 23,509.90 and rose nearly 1% to 23,582. Mid-cap and small-cap stocks also posted gains, contributing to an overall bullish sentiment in the market. Investor confidence was boost

A total of 205 Indian nationals who had illegally entered the United States were deported aboard a US military C-17 aircraft, which took off from Texas. Each deportee’s nationality was verified, signaling New Delhi’s involvement in the process. This is likely the first of many such deportations as part of a broader effort to address illegal immigration. The aircraft, typically equipped for larger transports, can accommodate up to 205 passengers, though it only has one toilet unles

Volkswagen has filed a lawsuit against Indian authorities, contesting a $1.4 billion tax demand that the company describes as "impossibly enormous" and in violation of India’s import tax regulations. The dispute centers around the classification of car imports, with Indian officials accusing Volkswagen of misclassifying imports to avoid higher customs duties. In particular, Volkswagen allegedly broke down nearly complete vehicles into individual parts, which are subject to low

Summary: Indian stock market saw a sharp decline: Sensex fell over 700 points, Nifty down nearly 300 points. Decline triggered by global factors, including new US tariffs on Mexico, Canada, and China. Foreign investor selling pressure continues, with FPIs pulling out significant funds from Indian markets. Rupee hits a record low of Rs 87.07 against the US dollar. Despite post-Budget relief for some sectors, overall

In a heartbreaking incident in southern Ireland, two Indian students were killed, and two others were seriously injured after their car crashed into a tree in County Carlow. The two deceased, Cherekuri Suresh Chowdary and Chithoori Bhargav, both in their 20s, were pronounced dead at the scene. The accident occurred on Friday, when the black Audi A6 they were traveling in veered off the road at Graiguenaspiddoge, near Mount Leinster. The students, part of the Indian community in Carlow, had re

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

Projected Economic Growth India’s economy is expected to grow between 6.3% to 6.8% in the financial year 2025-26 (FY26). This forecast comes from the Economic Survey 2024-25 presented by Finance Minister Nirmala Sitharaman in Parliament. Economic Fundamentals The survey highlights that the

Ahead of their Davis Cup 2025 World Group I Playoff tie against Togo, Team India has made extensive preparations, ensuring that the squad is well-acclimatized and sharp for the upcoming matches at the DLTA Complex in New Delhi. The team, led by Captain Rohit Rajpal, consists of seasoned players like N Sriram Balaji, Ramkumar Ramanathan, and Mukund Sasikumar, alongside debutants Rithvik Bollipalli and Karan Singh. Captain Rajpal emphasized the importance of team cohesion and getting used to th

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

In a heartfelt announcement on Friday, Indian equestrian Anush Agarwalla revealed the end of his seven-year partnership with his horse, Manni, who will now retire from competitive sport. The duo shared numerous successes, including a gold medal in the dressage team event and a bronze in the individual event at the 2023 Hangzhou Asian Games. In an emotional Instagram video, Agarwalla expressed gratitude for Manni's support, saying that the horse had been central to his achievemen

D Gukesh has continued his rapid ascent in the world of chess by overtaking Arjun Erigaisi to become the highest-ranked Indian chess player in the latest FIDE rankings. The 18-year-old achieved this milestone after winning his second game in the prestigious Tata Steel Tournament in Wijk Aan Zee, Netherlands, defeating Germany’s Vincent Keymer. Gukesh now holds an impressive rating of 2784 points, putting him at fourth place globally, while Erigaisi, the previous highest-ranked Indian, h

 Indian IT companies are set to benefit from a resurgence in discretionary technology spending, which is expected to lead to incremental revenue growth. After a prolonged downturn, demand is picking up, driven by easing macroeconomic factors such as rate cuts and the new U.S. administration's policies. Key IT players like Tata Consultancy Services (TCS), Infosys, Wipro, and HCLTech have seen a positive shift in discretionary spending across sectors, including BFSI and retail.

With the Modi government set to present its second full budget for the third term in power, the middle and lower-income groups across India are hopeful for key reforms that could alleviate their financial burdens. The anticipated reforms in Budget 2025 include tax relief measures, simplification of income tax laws, and a focus on financial literacy, insurance, and retirement savings. Key Expectations from Budget 2025 Insurance Sector Reforms:

House Rent Allowance (HRA) is a component of an employee’s salary provided by employers to help cover rental expenses. Depending on various conditions, HRA may be partially or fully exempt from taxes. However, to benefit from this exemption, employees need to meet specific criteria. Is HRA Taxable? While HRA is part of an employee’s salary and is initially included in taxable income, it can be exempt under certain conditions. If the employee lives in a rented

ISRO's Liquid Propulsion Systems Centre (LPSC) has successfully completed the integration of the liquid propulsion system for the Crew Module of Gaganyaan, India's first human spaceflight mission. On January 21, 2025, ISRO dispatched the Crew Module to the Satish Dhawan Space Centre in Sriharikota for further processing and integration. This uncrewed mission, known as Gaganyaan (G1), is a crucial step in ISRO's efforts to acquire human spaceflight capabilities. The Crew

The U.S. decision to withdraw from the Organisation for Economic Co-operation and Development’s (OECD) global tax deal, led by President Trump in his second term, could lead to significant shifts in the global tax landscape. However, according to tax expert Rakesh Nangia, India's tax policy will not be heavily impacted by this move. India had taken a more cautious approach toward implementing the Global Anti-Base Erosion (GloBE) rules and had not introduced substantial changes to it

The HSBC Hurun Global Indians List 2024 recognizes 226 Indian-origin leaders who are running 200 of the world’s most valuable companies, collectively worth an astounding $10 trillion. Among the leaders, Microsoft CEO Satya Nadella, Alphabet CEO Sundar Pichai, and Vedanta Chairman Anil Agarwal stand out, with Nadella taking the top spot. This list reflects a growing dominance of Indian-origin leadership in global business, particularly in the software and services sector, which accounts

Following the Indian cricket team’s defeat in the Test series against Australia, the BCCI (Board of Control for Cricket in India) has introduced a new  guidelines aimed at promoting discipline, team cohesion, and reducing the influence of 'star culture' within the team. These rules come after consultation with head coach Gautam Gambhir and are designed to ensure a more unif

Continuing their unbeaten streak in the Kho Kho World Cup, the Indian women's team defeated Malaysia in commanding fashion to secure a spot in the quarterfinals. The match, held in New Delhi on Thursday, showcased India’s dominance with several spectacular 'Dream Runs' and tactical mastery. The match began with India's defenders Bhilar Opinaben and Monika setting the pace in the opening batch, leading to an evenly matched start with both teams tied at 6-6 by th