Israel directly bombs over 50% of schools-turned-shelters in Gaza: UNICEF

Opener Gongadi Trisha scored 44 as India defeated South Africa by nine wickets in the final match of the Women's U19 T20 World Cup in Kuala Lumpur on Sunday.

Chasing only 83 runs, India did not face much difficulty as they lost just one wicket and went across the line in just 11.2 overs.

Earlier, contributions from the entire bowling unit helped India bundled out South Africa for 82 in 20 overs in the final of Women's U19 T20 World Cup on Sunday in Kuala Lumpur.

Asked to bowl first, India made immediate impact with back-to-back wickets. With this, India lifted their second consecutive U19 Women's World Cup title.

The Union Budget 2025 has brought significant revisions to the income tax structure, aiming to address long-standing demands of middle-class taxpayers, particularly salaried individuals. The newly proposed tax slabs and rebate enhancements are expected to provide substantial relief, making taxation more streamlined and beneficial for the majority.

REVISED INCOME TAX SLABS

The proposed tax slabs under the new regime are as follows:
•    Income up to Rs 4 lakh – Nil
•    Rs 4-8 lakh – 5%
•    Rs 8-12 lakh – 10%
•    Rs 12-16 lakh – 15%
•    Rs 16-20 lakh – 20%
•    Rs 20-24 lakh – 25%
•    Above Rs 24 lakh – 30% (plus applicable cess and surcharge)

Currently, the tax slabs under the new regime are:
•    Income up to Rs 3 lakh – Nil
•    Rs 3-7 lakh – 5%
•    Rs 7-10 lakh – 10%
•    Rs 10-12 lakh – 15%
•    Rs 12-15 lakh – 20%
•    Above Rs 15 lakh – 30%

ENHANCED REBATE UNDER SECTION 87A

The budget proposes an increase in the income cap for availing the rebate under Section 87A from Rs 7 lakh to Rs 12 lakh, while the rebate amount will rise from Rs 25,000 to Rs 60,000. This effectively means that individuals earning up to Rs 12 lakh annually (or Rs 1 lakh per month) will not have to pay any income tax under the new regime, excluding special rate income such as capital gains.

Additionally, salaried taxpayers can benefit from the standard deduction of Rs 75,000, pushing the tax-free income threshold to Rs 12.75 lakh.

Recent data suggests that 78% of taxpayers have already transitioned to the new tax regime. With these latest reforms, the government anticipates an even greater shift towards the default new regime.

TDS AND TCS RATE RATIONALISATION

The government has proposed selective rationalisation of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates, which include:

•    Senior Citizens’ Interest Income – The tax deduction threshold will be increased from Rs 50,000 to Rs 1 lakh.

•    TDS on Rent – The annual exemption cap will rise from Rs 2.40 lakh to Rs 6 lakh.

•    TCS on Foreign Remittances – The threshold cap will increase from Rs 7 lakh to Rs 10 lakh.

Additionally, the higher 20% TDS deduction will now apply only in cases where the PAN is inoperative, ensuring that compliant taxpayers do not face undue deductions. These adjustments are expected to ease compliance burdens for taxpayers.

UPDATED TAX RETURN FILING WINDOW EXTENDED TO 4 YEARS

Currently, taxpayers can file an updated return within 24 months from the end of the relevant assessment year, provided it results in additional tax payments. The new proposal extends this window to 48 months, offering taxpayers more flexibility to rectify their tax filings and remain compliant.

The Union Budget 2025’s tax reforms reflect a concerted effort to reduce the financial strain on taxpayers while simplifying the taxation process. These changes mark a significant shift in the government's approach to personal taxation, with a clear emphasis on inclusivity and fairness.

US President Donald Trump has signed an executive order slapping sanctions on the International Criminal Court (ICC) for what he called baseless investigations targeting America and its close ally Israel over genocide in Gaza.

Trump's order said on Thursday the court in The Hague had "abused its power" by issuing an arrest warrant for Israeli prime minister Benjamin Netanyahu, who held talks with the US president on Tuesday.

The order also said the tribunal had engaged in "illegitimate and baseless actions targeting the United States and Israel," referring to ICC’s probes into US war crimes in Afghanistan and Israel's onslaught on Gaza.

The order includes asset freezes and travel bans against ICC officials, employees, and their family members, along with anyone deemed to have helped the court's investigations.

Last November, the ICC issued arrest warrants for Netanyahu and his former minister of military affairs, Yoav Gallant.

The warrants are for "crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024."

The court’s Pre-Trial Chamber I issued warrants of arrest for Netanyahu and Gallant "for crimes against humanity and war crimes committed from at least 8 October 2023 until at least 20 May 2024, the day the Prosecution filed the applications for warrants of arrest”, it confirmed in a statement Thursday.

It was the first instance in the court's 22-year history it had issued arrest warrants for Western-allied senior officials.

In its statement, the ICC's Pre-Trial Chamber I, a panel of three judges, said it has rejected appeals by Israel challenging its jurisdiction.

Trump imposed financial sanctions and a visa ban during his first term on the ICC's then-prosecutor, Fatou Bensouda, and other senior officials and staff in 2020.

Trump’s then-administration made the move after Bensouda launched an investigation into allegations of war crimes against US soldiers in Afghanistan.

President Joe Biden lifted the sanctions soon after taking office in 2021.

In January 2024, the international court of justice (ICJ) ruled that Israel must take all measures within its power to prevent genocide in Gaza. However, the regime has ignored the court's verdict.

Cuba has now officially declared its intention to join South Africa’s case against Israel at the ICJ.  Cuba is the 14th country to join the case.

 In December 2023, South Africa initiated legal proceedings against Israel, accusing it of breaching the Genocide Convention in its treatment of Palestinians in Gaza.