A government-sponsored retirement savings plan with market-linked returns, tax advantages, and flexibility is the National Pension System (NPS). As 2025 approaches, a number of Pension Fund Managers (PFMs) are providing competitive NPS plans that are suited to various risk tolerances and financial objectives. This blog offers a thorough analysis of the top NPS plans for 2025, taking into account factors including tax advantages, asset allocation choices, and performance. This article will assist you in selecting the best NPS plan for a safe financial future, whatever of your investing style—conservative or aggressive.

The Union Budget 2025–26 brings key reforms in customs, excise, and service tax to promote domestic manufacturing, streamline tax compliance, and support economic growth. Changes include higher import duties on luxury goods, reduced raw material duties, and dispute resolution for service tax cases. These updates create opportunities for MSMEs, manufacturers, and digital businesses, while import-heavy sectors face challenges. Read on to understand the impact of these tax changes on businesses.

An important factor in giving Indian farmers access to reasonably priced loans is the Kisan loans Card (KCC) program. To the advantage of 7.07 crore farmers, the loan ceiling was recently raised from ₹3 lakh to ₹5 lakh. This will support the adoption of contemporary technology, the management of growing input costs, and the maintenance of financial stability. But problems like delayed loan disbursements and awareness problems still require addressed.

Through improved loan availability, tax breaks, digital transformation, and export promotion, the Union Budget 2025 has implemented a number of initiatives to support India's MSME sector. The introduction of Digital MSME India, the expansion of the PLI program, the reduction of GST compliance requirements, and a ₹50,000 crore investment in the CGTMSE are some of the major projects. Discover how these reforms will empower small firms and spur their expansion by reading on.

An outline of the most recent income tax slabs for FY 2023–2024; FY 2024–2025; and FY 2025–2026 under the new tax system is given in this blog. Taxpayers need to carefully consider their alternatives in light of the updated tax rates and higher exemption ceilings. Myitronline makes tax preparation easier while guaranteeing accuracy and the most possible savings.

In order to rectify prior errors, record extra income, or file missed reports, taxpayers can now file an Updated Income Tax Return (ITR-U) for the preceding four years. This tutorial provides detailed instructions on how to submit an ITR-U, as well as information on who is eligible, deadlines, and penalties.

This blog offers a thorough examination of the most recent GST announcements and modifications from January 28 to February 3, 2025. The hard locking of the automatically generated tax obligation in GSTR-3B, improved automation in submitting GST returns, clarifications of ITC eligibility, extensions of the GST return deadline for some industries, and improvements to the GSTN site are some of the major developments. The goals of these improvements are to increase taxpayer satisfaction, decrease mistakes, and improve compliance.

Significant GST reforms were implemented in the Union Budget 2025, with an emphasis on increasing transparency, reducing the tax burden on small enterprises, and boosting compliance. Stricter ITC claim regulations, e-invoicing requirements for companies with ₹5 crore in revenue, updated GST rates, and higher GST registration limits for MSMEs are some of the major changes. Although companies must adjust to more stringent laws, these changes seek to simplify compliance, increase economic growth, and streamline procedures.

Key tax and financial reforms that affect people, companies, and the economy are included in the Finance Bill 2025, which was issued together with the Union Budget. It provides clarification on crypto taxation, simplified GST, lowered corporate taxes, and updated income tax slabs.

The most significant adjustment to income tax slabs brought about by the Union Budget 2025 was the exemption of income up to ₹12 lakhs from taxes. Additional changes include a higher standard deduction of ₹75,000 and lower tax rates for those making between ₹8 lakhs and ₹24 lakhs. The goals of these measures are to streamline the tax filing process, promote savings and investments, and give middle-class taxpayers financial relief. The new tax system and its effects on people and the economy as a whole are covered in this blog.

The Union Budget 2025–2026, to be presented by Finance Minister Nirmala Sitharaman on February 1, 2025, is expected to set the financial roadmap for the coming fiscal year. Key areas of focus include changes in taxation, infrastructure development, digital economy growth, and social welfare programs. With rising expectations from businesses and taxpayers, this budget will play a crucial role in shaping India’s economic future. Stay tuned for key announcements and live updates on Budget Day.

The Income Tax Department (ITD) has started sending SMS alerts to taxpayers who have claimed Section 80GGC deductions for donations made to political parties and electoral trusts. The notice applies to Assessment Years 2022-23, 2023-24, and 2024-25 and urges taxpayers to verify their claims on the Compliance Portal. If the claim is incorrect, taxpayers must file an Updated Return (ITR-U) under Section 139(8A) before 31st March 2025 to avoid penalties under Section 270A (up to 200% fine) and interest under Section 234F (₹5,000 late fee). This blog explains Section 80GGC deductions, compliance requirements, and the steps to correct errors in tax filings.