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Inviting Ideas and Suggestions for Union Budget 2025-2026

Inviting Ideas and Suggestions for Union Budget 2025-2026
Start Date :
Jan 08, 2025
Last Date :
Jan 16, 2025
00:00 AM IST (GMT +5.30 Hrs)
Submission Closed

The Ministry of Finance seeks your thoughtful ideas for the Union Budget 2025-26 which aims to reflect the aspirations and needs of the people, fostering inclusive growth and ...

The Ministry of Finance seeks your thoughtful ideas for the Union Budget 2025-26 which aims to reflect the aspirations and needs of the people, fostering inclusive growth and progress.

Whether you are a student, professional, homemaker, or retiree, your voice matters!

In this spirit of 'Jan Bhagidari', we seek your suggestions that have the power to shape India’s future and help transform it into a global economic powerhouse with inclusive growth.

Your meaningful suggestions shared through this platform are highly valuable to Ministry of Finance. This year, we look forward to hearing from you once again.

Be a part of good governance. Your participation matters! Share your ideas and help your country soar to even greater heights.

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Showing 1177 Submission(s)
SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
By introducing the joint taxation system, India would align itself with global trends of supporting families through more flexible tax structures. Such a system would not only ease the financial burden on single-income households but also increase compliance and transparency in personal tax filings. However, such a proposal would require substantial changes to the current income tax framework, including updates to how deductions, exemptions, and surcharges are applied for married couples. As we approach Budget 2025, it remains to be seen whether this recommendation will be accepted and incorporated into the tax reforms, as it would mark a significant shift in the way the government approaches family-based taxation,
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Santanu Datta
Santanu Datta 1 year 6 months ago
Every district Child Welfare Committee Chairperson should be empowered more judicially, constitutionally and financially for the children welfare of the district.
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
By introducing the joint taxation system, India would align itself with global trends of supporting families through more flexible tax structures. Such a system would not only ease the financial burden on single-income households but also increase compliance and transparency in personal tax filings. However, such a proposal would require substantial changes to the current income tax framework, including updates to how deductions, exemptions, and surcharges are applied for married couples. As we approach Budget 2025, it remains to be seen whether this recommendation will be accepted and incorporated into the tax reforms, as it would mark a significant shift in the way the government approaches family-based taxation,
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
For salaried individuals, the standard deduction under Section 16(ia) should be separately available for both the husband and wife. Moreover, the proposal suggests proportionally increasing the adjusted total income limit for the non-applicability of Alternate Minimum Tax (AMT) under Section 115JC, which currently stands at Rs 20 lakh, for couples opting out of the default tax regime, i.e. the New Tax Regime."
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
a significant proportion of families in India are supported by a single earning member, making the current exemption limits inadequate when considering the rising cost of living. The existing tax exemptions, even for a family of four (husband, wife, and two children), remain low, often prompting tax avoidance mechanisms through income splitting among family members
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
The idea of joint taxation for married couples is not a new one and is already implemented in several developed countries, providing a potential model for India to consider. In the United States, married couples have the option to file their taxes jointly, which comes with various advantages such as higher exemption limits and wider tax brackets.  By choosing to file jointly, families can significantly reduce their tax burden by benefiting from increased deductions and more favourable tax rates compared to filing separately. Similarly, countries like the United Kingdom also allow married couples to file their income taxes jointly, recognizing the shared financial responsibilities within households
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
Proposed joint tax slabs include: Up to Rs 6 lakh: No tax Rs 6-14 lakh: 5% Rs 14-20 lakh: 10% Rs 20-24 lakh: 15% Rs 24-30 lakh: 20% Above Rs 30 lakh: 30%
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
The implementation of a joint taxation scheme is beneficial for families with single-earning members and helps to prevent tax avoidance. Individuals may have the option to pay taxes under the Joint Taxation Scheme. They can choose to pay taxes individually under the current taxation system or opt for joint taxation with their spouse.
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SANJAY SARKAR
SANJAY SARKAR 1 year 6 months ago
It is suggested to introduce an option for joint taxation of married couples by filing a joint return of income. Individuals may be given an option to pay tax under the Joint Taxation Scheme,
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