New Income Tax Rules Highlights: Key Changes from April 1, 2025

News Network
April 1, 2025

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As the new financial year begins, several significant financial and tax-related changes take effect from April 1, 2025. Many of these updates were announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025 and have now been officially approved as part of the Finance Bill 2025.

Some of the key changes include income tax exemption on annual earnings up to Rs 12 lakh, deactivation of UPI for long-unused mobile numbers, and suspension of dividend payouts for individuals who haven’t linked their PAN with Aadhaar. Below is a comprehensive look at all the important updates.

1. Income Tax Exemption & New Tax Slabs
Under the revamped tax regime:
✅ Individuals earning up to Rs 12 lakh per year will be completely exempt from income tax.
✅ For salaried employees, a standard deduction of Rs 75,000 raises the effective tax-free limit to Rs 12.75 lakh.
✅ To claim a rebate of up to Rs 60,000, taxpayers must file their returns on time.
✅ The new tax structure applies to income earned between April 1, 2025 – March 31, 2026, and will be reflected in ITR filings for FY 2025-26 (AY 2026-27).

2. Major Changes in TDS & TCS Rules
To provide tax relief and streamline transactions, several TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) amendments have been introduced:
🔹 TDS on bank interest for senior citizens has doubled from Rs 50,000 to Rs 1 lakh.
🔹 TDS on dividend income has increased to Rs 10,000.
🔹 TCS on overseas remittances under the Liberalised Remittance Scheme (LRS) has been raised from Rs 7 lakh to Rs 10 lakh.

3. UPI Deactivation for Inactive Mobile Numbers
The National Payments Corporation of India (NPCI) will start unlinking UPI IDs associated with inactive mobile numbers. If your number has been inactive for a long period:
🔸 Your bank may remove it from their records.
🔸 You could face disruptions in Google Pay, PhonePe, or any UPI-based transactions.
🔸 This change enhances security by preventing unauthorized access to old UPI-linked accounts.

4. New GST Rules
Several Goods and Services Tax (GST) updates take effect:
🔹 Multi-factor authentication (MFA) is now mandatory for logging into the GST portal, improving online security.
🔹 E-way bills can only be generated for documents issued within the last 180 days, ensuring better compliance.
🔹 Hotel room tariffs above Rs 7,500 per day are now classified as "Specified Premises," attracting an 18% GST on restaurant services.

5. Toll Tax Hike Across National Highways
From April 1, 2025, toll charges across various highways will increase:
🚗 Delhi-Meerut Expressway, NH-9: Toll for cars will rise by Rs 5 to Rs 170.
🚛 Trucks and buses will now pay Rs 580 on major highways.
🚗 Delhi-Jaipur Highway: The Kherki Daula toll plaza will maintain current rates for cars, but the monthly pass for larger vehicles will rise by Rs 20 to Rs 950.

6. End of Equalisation Levy on Digital Transactions
The Finance Act 2025 removes the Equalisation Levy, which previously imposed a 2% tax on e-commerce and 6% on online advertisements. This change aims to:
✅ Reduce tax burden on digital service providers.
✅ Attract foreign investments in India’s digital economy.

7. Positive Pay System for Cheque Payments
To prevent bank fraud, the Positive Pay System requires account holders to:
✅ Electronically submit cheque details for payments above Rs 50,000.
✅ Ensure the details match before the cheque is processed.

8. KYC Mandatory for Mutual Fund & Demat Accounts
🔹 KYC (Know Your Customer) verification is now compulsory for mutual fund and demat accounts.
🔹 Nominee details will also undergo re-verification to enhance security.

9. Major Credit Card Perk Reductions
Credit card users will see major perk reductions, particularly with SBI, IDFC First, and Axis Bank:
❌ SBI Cards will remove complimentary insurance coverage for accidents (Rs 50 lakh for air, Rs 10 lakh for rail).
❌ Reward points on SBI Cards will be slashed from 15% to just 5%.
❌ IDFC First Club Vistara cardholders will lose milestone benefits and Club Vistara Silver membership perks.
❌ Axis Bank is discontinuing Maharaja Club tier memberships and premium vouchers.

10. Minimum Balance Rules for Bank Accounts
📌 Major banks like SBI, PNB, and Canara Bank have updated their minimum balance requirements based on account location:
🏙 Urban branches will require higher minimum balances.
🏡 Rural and semi-urban accounts may have lower minimum balance thresholds.
🚨 Failing to maintain the required balance will result in penalty charges, varying by bank.

11. Unified Pension Scheme (UPS) for Government Employees
The Unified Pension Scheme (UPS), introduced in August 2024, takes effect:
✅ Central government employees under NPS can opt for UPS.
✅ Those with at least 25 years of service will receive 50% of their average basic salary as a monthly pension.

Final Thoughts

These changes, introduced as part of the Union Budget 2025, mark a significant shift in India's tax, banking, and digital transaction landscape. With higher tax exemptions, updated TDS & TCS rules, stricter banking security, and GST amendments, the new financial year aims to simplify compliance while improving financial security and economic efficiency.

Stay informed and ensure all necessary updates to your financial accounts to avoid disruptions.

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News Network
April 18,2025

A controversy has erupted in Karnataka after two Brahmin students were allegedly asked to remove their sacred thread (Janivara) and religious wristbands before entering the Common Entrance Test (CET) examination halls. The incident reportedly occurred on Thursday in Shivamogga and Bidar districts, drawing sharp criticism from community groups and prompting a swift response from state ministers.

Videos and complaints shared by parents and community organizations brought the matter to public attention on Friday. Several Hindu groups condemned the action as insensitive and discriminatory.

Investigation

Reacting to the incident, Karnataka’s Higher Education Minister Dr. M.C. Sudhakar called the alleged directive “unacceptable” and assured a thorough inquiry. “It is an excessive act. If this happened at any examination center, we will take it seriously. We must respect the traditions of all castes and religions. I do not support such actions,” the minister told PTI.
He added, “I will seek a report from the concerned officials and consider appropriate steps. This is not about politics or gaining political mileage. We have no intention of hurting the sentiments of any community.”

Education Minister Madhu Bangarappa, whose home district is Shivamogga, also addressed the issue. “There is no legal provision that permits such actions. Although this matter doesn’t fall directly under my ministry, I will coordinate with the concerned department. Since the incident happened in my home district, I will instruct officials to initiate appropriate action,” he said.

Hindutva Organizations Condemn

Community bodies such as the Akhila Karnataka Brahmana Maha Sabha and Vishwa Sanghatane strongly condemned the alleged directive, stating that enforcing such measures under the guise of examination protocols was a violation of religious rights.

Members of the Bhramina Sanghagala Okkuta submitted a formal complaint on Thursday to Shivamogga Deputy Commissioner Gurudatta Hegde, according to a report.

Broader Context

The controversy comes amid ongoing debates over religious expression in Karnataka’s educational institutions. Notably, the previous BJP-led state government had banned students from wearing hijabs in classrooms—a move upheld by the Karnataka High Court and currently under review by the Supreme Court.

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Agencies
April 22,2025

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Prime Minister Narendra Modi is set to make a landmark visit to Saudi Arabia on Tuesday, becoming the first Indian prime minister in four decades to set foot in the port city of Jeddah.

The high-profile visit comes at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud and signals a renewed chapter in the India-Saudi partnership.

During the prime minister's visit, Modi and the Crown Prince will co-chair the second meeting of the India-Saudi Strategic Partnership Council, a forum established during the prime minister’s 2019 visit to institutionalize deeper engagement between the two nations.

Six pacts ready to be signed — more may follow

According to high-level sources cited by news agency PTI, India and Saudi Arabia will ink at least six key memoranda of understanding (MoUs) during Modi's visit. These will cover vital sectors including space exploration, energy, healthcare, scientific research, culture, and advanced technology.

“Negotiations were still underway late Monday to finalise additional MoUs,” a senior official confirmed, adding that over a dozen agreements were on the table — some of which may be signed at the official level even if not during the PM’s presence.

Hajj quota, pilgrim support on the agenda

In his bilateral meeting with Crown Prince Mohammed bin Salman, Modi will also raise issues related to Hajj, including India’s annual pilgrimage quota. Sources said that the prime minister aims to ensure smoother coordination and increased support for Indian pilgrims.

India’s Hajj quota for 2025 has grown to 175,025 from 136,020 in 2014, with arrangements already in place for 122,518 pilgrims. However, around 42,000 Indians are unlikely to make the journey this year due to delays by Combined Haj Group Operators in securing agreements.

Indian ambassador to Saudi Arabia, Suhel Ajaz Khan, highlighted Jeddah’s dual importance — both as a historical trade hub with India and as the primary gateway to Mecca. “Hajj is a vital aspect of our bilateral ties, and the Indian government places immense importance on ensuring a seamless pilgrimage experience,” he said.

On Wednesday, the prime minister is also scheduled to visit a factory in Jeddah that employs a large number of Indian workers — a gesture underlining the critical role of the Indian diaspora in strengthening bilateral relations.

Notably, Modi was awarded Saudi Arabia’s highest civilian honour, the King Abdulaziz Sash, in 2016 — a testament to the deepening diplomatic and personal rapport between the leadership of both nations.

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News Network
April 21,2025

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Pope Francis, the beloved spiritual leader of 1.4 billion Catholics worldwide, has passed away at the age of 88. After battling age-related illnesses and spending over a month in the hospital, he departed peacefully, leaving behind a legacy of compassion, humility, and service. His death marks the end of an era and opens a sacred and solemn chapter of transition for the Roman Catholic Church.

The Final Hours and Ancient Rituals

With the pope’s passing, the Vatican enters the interregnum — a time between the end of one papacy and the beginning of another. The camerlengo, the Church's administrator of temporal affairs, performs a centuries-old ritual to confirm the pope’s death. He gently calls the pontiff’s baptismal name three times. If there is no response, the pope is declared dead — a symbolic moment of both loss and tradition.

An earlier custom involved tapping the pope's forehead with a small silver hammer, a practice discontinued after 1963.

The camerlengo then seals the papal apartment and prepares for the destruction of the Fisherman’s Ring and the papal seal — powerful symbols of papal authority. Their destruction signifies the official end of the pontiff’s reign.

A Funeral Rooted in Legacy

In accordance with the constitution Universi Dominici Gregis, the pope’s funeral must be held within four to six days. It will most likely take place at St. Peter’s Basilica, unless otherwise requested by the pope himself. A nine-day mourning period, known as novemdiales, follows the funeral.

The Sacred Search for a Successor

Around 15 to 20 days after the pope's passing, the papal conclave begins — a profoundly secretive and spiritual election process. Cardinals under the age of 80 gather in the Sistine Chapel, cut off entirely from the outside world, including phones and media.

They vote in repeated rounds. After each, ballots are burned. Black smoke rising from the chimney signals no decision. White smoke proclaims that a new pope has been chosen.

"Habemus Papam" — A New Dawn

Once a cardinal is elected and he accepts the sacred role, he chooses a papal name — often in honor of past saints or spiritual inspirations. Then, from the balcony of St. Peter’s Basilica, the senior cardinal deacon steps forward and declares to the world:

“Habemus Papam” — We have a pope.

A moment of silence gives way to thunderous cheers as the newly chosen pope steps forward, greeting the faithful and offering his first blessings. The bells of the Vatican ring out in joy, marking the beginning of a new spiritual journey for the Church and its followers.

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