Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Budget 2025: You will have 4 years, not just 2, to update your income tax returns now
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • India
  • Budget 2025: You will have 4 years, not just 2, to update your income tax returns now

Budget 2025: You will have 4 years, not just 2, to update your income tax returns now

press trust of india • February 1, 2025, 12:57:15 IST
Whatsapp Facebook Twitter

Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, FM Sitharaman also proposed the exemption of TCS (tax collected at source) for remittances for education purposes in cases where education loan is taken from specified financial institutions

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Budget 2025: You will have 4 years, not just 2, to update your income tax returns now
Representational image.

Finance Minister Nirmala Sitharaman on Saturday announced extension of the time limit for filing updated returns for any assessment year.

The time limit is proposed to be extended from the current two years to four years.

Presenting the 14th consecutive Budget under the Narendra Modi government since 2014, Sitharaman also proposed the exemption of TCS (tax collected at source) for remittances for education purposes in cases where education loan is taken from specified financial institutions.

STORY CONTINUES BELOW THIS AD

She added that 33,000 taxpayers have availed Vivad Se Vishwas 2.0 scheme to settle direct tax disputes.

The limit for tax deduction on interest income would be doubled to Rs 1 lakh for senior citizens, and the limit for TDS on rent is proposed to be increased to Rs 6 lakh.

More from India
Earthquake of magnitude 5.9 jolts Assam, tremors felt in Bhutan and north Bengal Earthquake of magnitude 5.9 jolts Assam, tremors felt in Bhutan and north Bengal 'First Assam visit after Op Sindoor': PM Modi inaugurates projects worth Rs 18,530 cr 'First Assam visit after Op Sindoor': PM Modi inaugurates projects worth Rs 18,530 cr

Besides, the budget extends the period of incorporation by five years for startups to avail of tax benefits.

Tags
Union Budget 2025
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

'New dawn': PM Modi meets Manipur violence victims in first visit since 2023 unrest

'New dawn': PM Modi meets Manipur violence victims in first visit since 2023 unrest

Prime Minister Modi visited Churachandpur, Manipur, meeting displaced people from ethnic clashes. Modi laid foundation stones for 14 development projects worth over ₹7,300 crore in Churachandpur. Opposition criticized Modi's visit as "too little, too late" and questioned its impact on healing wounds.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports

QUICK LINKS

  • Mumbai Rains
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV