Finance Minister Nirmala Sitharaman on Saturday introduced new slabs and reduced the tax rate for different slabs for an individual income of up to Rs 15 lakh per annum, if a taxpayer opts for foregoing exemptions and deductions. The new tax regime will be optional and the taxpayers will be given the choice to either remain in the old regime with exemptions and deductions or opt for the new reduced tax rate without those exemptions. In this video, Business Standard decodes the new tax regime

Big Budget bonanza for the Common Man: Personal income tax rate decoded

Tata Power on Friday said its arm Tata Power Renewable Energy Ltd (TPREL), has joined hands with Canara Bank to promote the adoption of rooftop solar systems under the PM Surya Ghar Scheme.
This collaboration aims to simplify access to solar energy solutions for households by providing attractive financing options, empowering citizens to transition to a more sustainable energy future, a Tata Power statement said.
As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable.
"Our partnership with Canara Bank marks a significant step in accelerating the adoption of rooftop solar systems nationwide," Deepesh Nanda, CEO & Managing Director, TPREL said.
For systems with a capacity of up to 3 kW, the scheme offers loans of up to Rs 2 lakh with a 10 per cent margin money requirement, collateral-free financing, a competitive interest rate of 7 per cent per ...

As part of the initiative, households can benefit from tailored financing options under the PM Surya Ghar Scheme, designed to make rooftop solar installations more accessible and affordable

Billionaire Gautam Adani's conglomerate plans to invest Rs 20,000 crore in setting up a super critical thermal power plant in Bihar even as it expands its cement, food processing and logistics business in the state.
Speaking at the Bihar Business Connect 2024, Pranav Adani, Director, Adani Enterprises Ltd, said the ports-to-energy conglomerate is invested in three sectors in Bihar - logistics, gas distribution and agri logistics, where it has already invested around Rs 850 crore.
"We are now going to invest another Rs 2,300 crore in these sectors. This investment will not only massively increase our warehousing and handling capacity and expand our presence in the EV, city gas distribution (CGD) and compressed biogas (CBG) space but will also generate an additional 27,000 direct and indirect local job opportunities," he said.
The group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar, like Gati Shakti Railway Terminals, ICDs

The group is also looking to potentially invest another Rs 1,000 crore in developing strategic infrastructure in Bihar

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The Supreme Court on Friday said the plea seeking a policy for verification of electronic voting machines will be heard by a bench headed by Justice Dipankar Datta in January next year.
A bench comprising Chief Justice of India (CJI) Sanjiv Khanna and Justice Sanjay Kumar said the fresh plea of former Haryana minister and five-time MLA Karan Singh Dalal and one Lakhan Kumar Singla on the issue will be heard by a bench headed by Justice Datta in the week commencing January 20, 2025.
A bench comprising Justice Khanna and Justice Datta had delivered a verdict earlier in April rejecting the demand for bringing back the old paper ballots.
At outset, senior advocate Maninder Singh, appearing for the Election Commission, sought dismissal of the plea, saying that similar petitions for same reliefs were rejected earlier.
The CJI said the bench headed by Justice Datta would hear this now.
Earlier on December 13, a bench of Justices Vikram Nath and P B Varale had refused to hear the plea, sa

A bench comprising Justice Khanna and Justice Datta had delivered a verdict earlier in April rejecting the demand for bringing back the old paper ballots

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The official further noted that this year's Budget consultations are particularly significant due to the political outcomes of recent state elections

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

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Big Budget bonanza for the Common Man: Personal income tax rate decoded

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