Budget 2025: Relief in TDS to house property tax, know 5 big gifts

The Union Budget 2025 has given relief to the taxpayers. The government has not only given income tax exemption, but has made many such changes, which will make the life of the common man easier and will get more saving. Let’s know 5 very good news of this budget!

1. Now revised returns can be filled for 4 years

Earlier, if there was a mistake in the return, then it used to get only 2 years to improve it. But now this deadline has been increased to 4 years. Meaning, now there is nothing to worry, can improve the returns comfortably.

2. Relief in TDS and TCS rules

Rent: Now the range of TDS on rent has been increased from Rs 2.4 lakh to Rs 6 lakh. That is, if you are giving property on rent, then you will have to pay less tax.

Relief on sending money abroad: No major trouble will be done up to Rs 10 lakh for sending funds abroad under LRS scheme because the limit of TCS has increased from 7 lakh to 10 lakh rupees.

Delay in TCS payment: If TCS is not paid on time, it will not be considered a crime now.

3. Good news for Senior Citizens

The tax deduction limit on interest for senior citizens has been increased from Rs 50,000 to Rs 1 lakh. That is, now they will get tax exemption on higher interest and savings will increase.

4. Relief for small charitable trusts

Now small trusts and institutions will get relief from the hassle of repeated registration. The period of registration has been extended from 5 years to 10 years, so that they can work without any interruption.

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5. Advantage of tax exemption on two houses

Now if you have two houses (both are your own property), then you will get a discount in paying tax on them. Earlier, even if your property was lying vacant or was not rented, the government still taxed a fixed amount of it.

But now the government has made this rule easier. Now your two property will not be taxed (it will be considered zero annual value). This means that you will not have to pay much tax and your savings will increase.

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