Budget 2025-26: Homeowners got a bumper gift in the budget, taxpayers will get this big benefit..

Finance Minister Nirmala Sitharaman has given a big relief to the taxpayers in many cases in the Budget 2025-26. Along with this, the government has also given a bumper gift to the landlords. The government has announced that the limit of TDS exemption on income from rent has been increased from Rs 2.4 lakh to Rs 6 lakh. This will give a big benefit to small taxpayers and at the same time the process of compliance will also become easier. At the same time, now the conditions for tax exemption in two houses will also be relaxed.

Finance Minister Nirmala Sitharaman proposed many important reforms in the tax system in this budget, in which the conditions for tax exemption on the second house have been relaxed. With this, now those living in the second house will also get the benefit of tax benefits. Earlier tax exemption was given only on the first house, but now if someone has two houses and lives in both, then he can claim tax benefits on both. This will give a big benefit to the house owners.

Big benefit to small taxpayers

The budget also emphasized on simplifying the system of TDS and TCS. The Finance Minister said that the government is working to simplify the TDS rates and deduction limits. At the same time, increasing the TDS limit for rental income to Rs 6 lakh will be a big benefit for small taxpayers, as transactions less than Rs 6 lakh will come under the purview of TDS and this will also reduce the difficulty of compliance.

Economy will grow

Finance Minister Nirmala Sitharaman made it clear in the budget that the government aims to implement reforms in six major sectors, including taxation, electricity, urban development, mining, financial sector, and regulatory reforms. Along with this, she also said that the government's goal is to make the Indian economy the fastest-growing economy in the world. She also added that this is the 14th budget under the Modi government, and it is an important step to make the Indian economy the most prosperous in the world.

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