Budget 2025 income tax: Individual taxpayers want FM Sitharaman to lower tax rates, make new tax regime more attractive, says survey

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Budget 2025 income tax: Individual taxpayers want FM Sitharaman to lower tax rates, make new tax regime more attractive, says survey - Times of India

Quick Summary:

Budget 2025 income tax expectations: In anticipation of Budget 2025, individual and salaried taxpayers are urging Finance Minister Nirmala Sitharaman to lower personal income tax rates and increase exemption thresholds.

According to Grant Thornton Bharat's pre-budget survey, 38% of participants support enabling tax payments through foreign banking institutions, which would simplify compliance procedures for NRIs.

The findings show that 57% of participants want reduced personal income tax rates, whilst 25% support higher exemption thresholds.