National News

A significant Budget amendment will limit the period for carrying forward losses to the residuary period post-amalgamation from April 1, 2025. This change may affect M&A plans, with some areas needing clarification. However, efforts to expedite merger approvals bring some optimism.

The DMK government’s slew of requests, including allocation of funds for the Chennai Metro Rail Project and disaster relief, did not find a mention in the Budget speech.

The new tax regime offers significant benefits for income up to Rs 12 lakh (Rs 12.75 lakh for salaried), surpassing the old regime's appeal despite deductions. Choosing the old regime makes sense for higher incomes if substantial investments in tax-saving schemes are made. At Rs 20 lakh and above, the new regime shows substantial savings over the old.

Tax breaks cannot suddenly turn around aggregate demand, let alone encourage the growth of private investment

In the 87th Tata Steel Chess Tournament 2025, R Praggnanandhaa won his sixth game, Arjun Erigaisi secured his first victory, and Gukesh settled for a draw. Highlights included Praggnanandhaa's win over Alexey Sarana and Abdusattorov's defeat by Erigaisi. Key draws were achieved by Leon Luke Mendonca and Pentala Harikrishna. Gukesh leads the standings with Praggnanandhaa.

Budget 2025 amends Section 23 of the Income Tax Act, allowing taxpayers to claim the annual value of up to two self-occupied properties as nil, without any condition. This simplification applies if the properties are used for the owner's residence or cannot be occupied due to employment, with the provision for two house properties remaining unchanged.

The recent Budget announcement provides that annual incomes up to Rs 12.75 lakh for salaried employees will not be taxed, considering standard deduction. However, increments to Rs 14 lakh or Rs 15.3 lakh could push individuals into higher tax slabs, significantly affecting their take-home pay despite the salary hike.

The tenure for filing updated tax returns has been extended from two to four years, allowing taxpayers more time to correct discrepancies. However, steep additional taxes of up to 70% apply for delayed filings. The updated returns cannot be used to claim missed tax benefits or adjust losses. Nearly 90 lakh taxpayers have already utilized this facility.

Coming in the backdrop of a volatile regional and global security environment, MoD’s budget and its distribution among various heads, evokes several pertinent questions, including about its adequacy to meet the needs of the defence forces and its impact on indigenisation

Pune civic health authorities are investigating if lapses in water chlorination contributed to the surge in Guillain-Barré Syndrome (GBS) cases, linked to diarrhoea preceding GBS symptoms. They are testing water and meat samples for bacterial contamination, including Campylobacter jejuni and norovirus, to identify the source of the outbreak.

Budget 2025 clarifies that the tax rebate will no longer apply to income from capital gains or other sources taxed at special rates. Taxpayers under the new regime can claim a maximum rebate of Rs 60,000 for an income of up to Rs 12 lakh, effective from FY26.

Budget prioritises technology-led growth, AI-driven modernisation and inclusive economic progress, writes Arundhati Bhattacharya

Prime Minister Modi invoked Goddess Lakshmi on Budget-eve, later Indian taxpayers received significant tax relief. Finance Minister announced revised tax slabs where the biggest benefit is for those earning up to Rs 12.75 lakh, making their tax liability nil. Changes include rebates up to Rs 60,000 and altered tax rates for various income brackets.

Govt. has maintained its focus on infrastructure, while aviation and nuclear energy get due attention, writes Kumar Mangalam Birla

Zakia Jafri, widow of ex-Congress MP Ehsan Jafri, who was killed in the 2002 Gujarat riots, passed away at 86 in Ahmedabad. She was known for her prolonged legal battle against Narendra Modi and others, which lasted 16 years. Social activist Teesta Setalvad expressed condolences on social media, recognizing Zakia's efforts for justice.

A 20-year-old MBBS student, Ivy Prasad, was found hanging in her room at Kamarhati ESI Hospital quarters. Her mother, a doctor, discovered her after multiple unanswered calls. No suicide note was found, and police have registered a case of unnatural death. Authorities suspect depression; an investigation is underway, and a post-mortem is being conducted.

A 21-year-old woman from Memnagar has accused her husband of blackmail and online harassment, alleging he leaked her private photos and videos on social media after she sought a divorce. Distressed by the threats and social media humiliation, she approached Ghatlodia police, leading to a case of defamation and criminal intimidation against him.