New Financial Year Brings Significant Changes

As the new financial year begins on April 1, 2025, India witnesses a host of regulatory and financial changes. These updates are set to impact taxpayers, digital payment users, and pensioners across the country, reshaping personal finance for millions.

Key Changes Introduced

Lower Tax Burden: The income tax exemption limit has been increased to Rs12 lakh per annum, reducing tax liability by up to 1.1 lakh annually for those under the new tax regime.

TDS Relief: The limit on interest earned by senior citizens has been doubled to 1 lakh a year, with the annual limit on rent hiked from 2.4 lakh to 6 lakh.

Pension Bonanza: Central government employees joining from 2004 can opt for the Unified Pension Scheme, offering assured pension benefits.

Security Check for UPI: Stricter compliance measures will be implemented, including the deactivation of UPI for long-unused mobile numbers.

GST Tweaks: New measures include multi-factor authentication for e-way bills and e-invoices, and the introduction of a new Input Service Distributor mechanism.