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Friday, April 4, 2025

Sebi exempts govt from making open offer to Vodafone Idea's shareholders post-dues conversion .. Read more at: https://telecom.economictimes.indiatimes.com/news/policy

 


New Delhi: The markets regulator Sebi on Thursday exempted the government from making an open offer to the shareholders of Vodafone Idea Ltd (VIL) following its proposed acquisition of just over 34 per cent stake in the telecom operator on the conversion of spectrum dues into equity. In its order, Sebi Whole Time Member Ashwani Bhatia said, "The acquisition of shareholding by GoI in VIL is is proposed with the sole intent of protecting the larger public interest."


Parliament passes Waqf Bill after Rajya Sabha approval following 12-hour debate:-ET

 

The Parliament on passed the Waqf (Amendment) Bill, 2024 in the early hours of Friday after the Rajya Sabha gave its approval, following 12 hours-long debate over the proposed legislation. The bill, which seeks to improve the administration and management of waqf properties in India, was passed with 128 votes in favour of the bill, as against 95.
The Lok Sabha passed the Bill with a 288-232 vote in the wee hours of Thursday after nearly 12 hours of debate.


Tabling the Bill in the Upper House, which was examined and redrafted by a Joint Parliamentary Committee (JPC), Rijiju said the proposed legislation has nothing to do with religion, but deals only with properties. The Bill aims to include all the Muslims sects in the Waqf board, Rijiju said.


Jio Financial, BlackRock invest Rs 66.5 crore in JV Jio BlackRock Investment Advisers:-ET

 

Jio Financial Services and BlackRock were on Friday allotted 6.65 crore shares of Jio BlackRock Investment Advisers Private Limited for cash aggregating Rs 66.5 crore. Jio BlackRock Investment is a 50:50 joint venture between the Jio Financial and BlackRock and their total investment in the JV is Rs 84.5 crore, till date.
The investment is a related party transaction and the company said that it is on an arm's length basis as none of the company’s promoter / promoter group / other group companies have any interest in the above investment.

In April last year, Jio Financial Services signed an agreement with BlackRock Inc. and BlackRock Advisors Singapore Pte. Ltd. to form a 50:50 joint venture between the Jio and Blackrock to start its wealth management and broking business.

The JV agreement also includes incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.


"This joint venture further strengthens the company’s relationship with Blackrock, Inc., with whom it had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," the company filing had then said.Shares of Jio Financial shares ended at Rs 230.64 on the NSE, gaining by Rs 0.86 or 0.37% over the Wednesday closing price.

Jio Financial shares are market laggards and have fallen by 35% in the past one year. In 2025, so far, the decline has beenm to the tune of 24%.The company had reported a consolidated net profit of Rs 295 crore for the quarter ended December 31, 2024, which was flat versus Rs 294 crore posted in the year-ago period. The Mukesh Ambani promoted company reported total revenue at Rs 438 in Q3FY25, witnessing a 6% gain over Rs 414 crore posted in the corresponding quarter of the previous financial year.

However, the net profit fell 57% QoQ versus Rs 689 crore posted in Q2FY25 on a 37% sequential revenue decline. The company had posted Rs 693 crore in revenue in the July-September quarter.


Thursday, April 3, 2025

IDFC First Bank Shares Rise Over 6% On Robust Q4 Update; Should You Invest? Reported By : Aparna Deb News18.com Last Updated: April 03, 2025, 14:39 IST Shares of IDFC First Bank jumped more than 6% on Thursday, April 3, following the lender’s robust fourth-quarter business update

 

IDFC First Bank Share Price: Shares of IDFC First Bank jumped more than 6% on Thursday, April 3, following the lender’s robust fourth-quarter business update.

The bank’s total deposits surged 22.7% year-over-year to Rs 4.84 lakh crore in the March quarter, up from Rs 3.94 lakh crore a year ago.Loans and advances rose 20.3% to Rs 2.41 lakh crore compared to Rs 2 lakh crore in the previous year, marking a 4.7% sequential increase.

Customer deposits grew 25.2% year-over-year to Rs 2.42 lakh crore from Rs 1.93 lakh crore, with a 6.7% increase on a sequential basis. Meanwhile, current account and savings account (CASA) deposits climbed 24.8% to Rs 1.18 lakh crore from Rs 94,768 crore last year, registering a 4.6% sequential rise.

The CASA ratio stood at 46.9%, slightly lower than 47.2% a year ago and 47.7% in the previous quarter.

The lender’s credit-to-deposit ratio declined to 93.8% in the March quarter from 98.4% in the prior year and 95.7% in the previous quarter. IDFC First Bank highlighted its ongoing efforts to reduce this ratio since its merger with Capital First in December 2018 by retiring legacy bonds and borrowings while strengthening retail customer deposits.

Should You Buy IDFC First Bank Shares?

Sumeet Bagadia, Executive Director at Choice Broking, believes IDFC First Bank is on the verge of a technical breakout at Rs 60.

“If the stock decisively breaks above Rs 60 on a closing basis, we could see it reaching Rs 70 soon. Existing shareholders should hold their positions with a stop loss at Rs 55. Fresh investors can consider buying at the current market price with a near-term target of Rs 70, while maintaining a stop loss at Rs 55," Bagadia advised.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

HDFC, IDFC First, Stock Holding Corp designated as corporate agents in GIFT City; allowed to sell insurance products Updated - April 02, 2025 at 04:43 PM. | The Hindu Business Line

 

Two banks --- HDFC Bank and IDFC First Bank --- and the Stock Holding Corporation have been permitted to function as corporate agents and sell insurance products to over 35 million Non-resident Indians and Persons of Indian Origin (PIO) living across the globe.

Banks in GIFT City are in the process of becoming corporate agents under the Insurance Act. This means that they will be able to sell insurance products along with their own products. While HDFC and IDFC First Bank and Stock Holding Corporation have already been given licenses, one more application in this regard is pending,” K Rajaraman, chairman of International Financial Services Authority (IFSCA) told the business line during an interaction. 

HDFC Bank Ltd, IFSC unit of IDFC First Bank and Stock Holding Securities IFSC Ltd are among the first entities who have become corporate agents in GIFT City. Corporate agents are insurance intermediaries that usually represent an insurance company and take the insurance products to a wider audience. 

“There are millions of NRIs and PIOs living all over the world. They usually subscribe to a dollar product. For instance, if an employee in Dubai who has subscribed to an insurance policy from Dubai passes away, the succession will happen under the local Sharia law. The advantage for an NRI buying an insurance product from GIFT City is that the succession will happen under the Indian Succession Act. In other words, the nomination process happens as per Indian law. Moreover, internationally, the customer’s first port of call is the bank. Assuming that an NRI calls up to set up a bank account. Then he will not have to go anywhere for insurance. He just needs to tell the bank and the same will be arranged,” the IFSCA official explained.

According to the Ministry of Foreign Affairs, there are more than 35 million Indians living overseas. Of these 15.85 million are Non-Resident Indians and nearly 19.57 million are People of Indian Origin.

“We are looking to create a wholesome ecosystem. We are also looking at encouraging insurance companies, setting up Global Capability Centres (GCCs) in GIFT City which can accrual services, data processing or underwriting services. We are in talks with a few companies,” Rajaraman added.

Standing Committee on Insurance

Last month, IFSCA had constituted a standing committee on insurance to strengthen GIFT-IFSC’s position as a global insurance hub.

The committee headed by former chairperson of LIC of India MR Kumar has been asked to provide strategic insights and recommendations on regulatory matters, stakeholder engagement, public consultations, and industry best practices.

The Terms of reference of this committee include benchmarking IFSCA regulations with competing IFSCs and advising on issues and enhancements to regulation of Insurance and (Re)insurance at GIFT-IFSC as well as the relevant laws of India. Similarly, it will also benchmark the Ease of Doing Business and Cost of Doing Business in IFSC with reference to other key IFSCs and recommending improvements.

The committee will also provide inputs on the approach to engage with stakeholders, especially NRIs/PIOs and conducting outreach and educational initiatives, review the demand for insurance products in consultation with market participants/NRIs/PIOs as well as scope, nature and scale of global insurance products offered by REs for Indian Corporates/NRIs/PIOs and offering recommendations for development of new products.

The first meeting of the standing committee on insurance was held last week. “They are looking at bringing in improvement to our regulations and exploring ways to expand the retail market. There needs to be a digital channel through which retail insurance products related to life, health and other kinds of products can be sold to retail consumers.These products should also be of international standards,” Rajaraman added.



IDFC FIRST Bank Authorized by the Central Pension Accounting Office, Government of India, for Pension Disbursement:-The Print

 



Mumbai (Maharashtra) [India], April 2: IDFC FIRST Bank today announced that it has been authorised by Central Pension Accounting Office (CPAO), Government of India, to disburse pensions on its behalf.

This allows the Bank to disburse pensions to Central Government pensioners including – All India Service Officers, former Members of Parliament, retired Judges of High Courts and Supreme Court, former Presidents and Vice Presidents of India, and officials of Civil Ministries and Departments (other than Railways, Posts, Telecom and Defence). Pensioners can now receive their pension directly in their IDFC FIRST Bank Savings Account.

From a technical point of view, the integration between the CPAO, GOI and IDFC FIRST Bank is complete and is ready for such pension disbursements.

Pensioners can also open an IDFC FIRST Bank Savings Account jointly with their spouse to receive pension. In the event of the primary pensioner’s demise, the spouse can continue receiving the family pension in the same account.

The IDFC FIRST Bank Savings Account where the pension will be credited comes with the following privileges:

1. Zero Fee Banking on all Savings Account Services, such as Debit Card Issuance, IMPS, NEFT and RTGS, Cheque Book Issuance, ATM Cash withdrawal, Branch cash withdrawals and deposits, Demand Drafts, Pay order, SMS Alerts, international ATM charges – 36 such services

2. Higher interest rates with Monthly Interest Credits

3. Exclusive Senior Citizen Savings Account benefits for pensioners above 60 years, offering:

* Rs. 2 lakh Cyber Insurance coverage for protection against cyber fraud

* One-year MediBuddy health membership with unlimited consultations

* Free doorstep banking and priority service at branches

4. ZERO penalty for premature withdrawal of Fixed Deposits for Senior Citizens

5. Additional 0.5% interest on Fixed Deposits for Senior Citizens

Speaking on the development, Mr. Chinmay Dhoble, Country Head – Retail Liabilities at IDFC FIRST Bank, said, “We are delighted that the esteemed Central Pension Accounting Office (CPAO), Government of India has authorized our bank to disburse pensions to Central Government pensioners. As a universal bank, it is our constant endeavour to offer a complete range of services to our customers. We encourage Central Government pensioners to use the facilities of IDFC FIRST Bank to receive pension in their Savings Account and enjoy industry-first benefits.”

To open the pension account >

Step 1: Pensioner to share IDFC FIRST Bank Account Number with their employer

Step 2: The employer to initiate the formalities with the respective Pay & Accounts Office (PAO)

Step 3: PAO to generate the Pension Payment Order & forward it to CPAO

Step 4: CPAO on acceptance will share details with IDFC FIRST Bank for monthly disbursement

You may visit us at: www.idfcfirstbank.com

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.

Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact?:-ET

 


US President Donald Trump slapped India with some of the highest tariff rates imposed on any major US trading partner, saying his good personal ties with Prime Minister Narendra Modi did not affect his decision.

The Trump administration imposed a 26% tariff on imports from India, which is slightly higher than the 20% levy for the European Union, the 24% for Japan and the 25% for South Korea. China was hit with one the highest rates for a major US trading partner and now faces a tariff of at least 54% on many goods.

The tariffs are a setback for the Indian government, which had sought to ward off the new levies by rolling out sweeping concessions on issues central to Trump’s agenda. During a visit to Washington by Prime Minister Narendra Modi in February, the two nations agreed to work toward a trade pact this year.

“India, very, very tough. Very, very tough,” Trump said at a news event at the White House on Wednesday to announce the tariffs. “The prime minister just left, and he’s a great friend of mine. But I said, you’re a friend of mine, but you’re not treating us right. They charge us 52%.”

The levies are likely to ratchet up pressure on officials in New Delhi to hash out a trade pact with Washington to win a reprieve, as per a Bloomberg report.

Ahead of the move, the Trump administration has been signaling India would be a target of the new duties, given that New Delhi charges some of the highest tariffs of any major economy. Trump has repeatedly criticised India’s high levies, branding the country as the “tariff king.”

Pressure on India

Before the reciprocal announcement, the US tariff rates were among the lowest, with simple average tariffs at 3.3%, compared with India's 17%, the White House said.

Over the past few weeks, India overhauled its tariff regime, reducing import duties on some 8,500 industrial items, including on prominent American goods like bourbon whiskey and high-end motorcycles made by Harley-Davidson Inc., satisfying a longtime grievance of the US president.

India also indicated its willingness to buy more American oil, LNG and defense equipment to narrow its bilateral trade surplus. Officials have also signaled that more tariff cuts would be in the offing.

The levies will add further pressure on India to make even deeper cuts to its tariff regime. As a part of the discussions, India is considering US demands of duty cuts on US farm products, Bloomberg News reported last week. Officials were optimistic of a favorable outcome in wake of these concessions.

The new duties could also push New Delhi to yield to the US demand on dismantling non-tariff trade barriers, such as opaque import restrictions and licensing requirement on some imports.

Trump and Modi held multiple meetings during the US president’s first term. The US over multiple administrations has cultivated India as a regional partner and a bulwark against a more assertive China.

Impact on Indian economy


The US duties risked pushing India closer to alternative trade blocs and strategic partners, Nigel Green, CEO of global financial advisory deVere Group, told Reuters.

"(This) makes Indian exports immediately less competitive ... it dents investor confidence just as India is trying to attract global capital fleeing China," he said.However, a recent SBI Research report said that the impact of Trump’s tariffs is likely to be limited. This sentiment is echoed by several global research and ratings firms and banks such as Goldman Sachs, Nomura, Morgan Stanley and Fitch.

According to the SBI analysis, the potential impact of US tariff reciprocity on Indian exports would be modest. It projected a reduction of approximately 3 to 3.5 per cent.The report indicates that India's strategic approach to export diversification, emphasis on value addition, exploration of alternative markets, and development of new trade routes from Europe to USA through the Middle-East would offset the effects of US tariffs.

Goldman Sachs notes that India’s gross exports to the US is one of the lowest among its Emerging Market peers. Fitch says India’s low reliance on external demand makes it ‘somewhat insulated’.



Wednesday, April 2, 2025

With Prime Minister’s Office push, India finalises terms for US trade deal US President Donald Trump said Tuesday that India was willing to cut tariffs, hinting at possible relief for India from sweeping US tariffs.:-The Indian Express

 

A DAY BEFORE the US reciprocal tariffs kick in on April 2, India has agreed to the Terms of Reference for the Bilateral Trade Agreement with the US following an intervention from the Prime Minister’s Office (PMO).

The ToR outlines the framework of the BTA and typically requires clearance from the highest political office before negotiations begin. “The PMO is keen on a swift finalisation of the deal,” a senior government official told The Indian Express.

Finalisation of the ToR was still pending on Saturday when US negotiators left India after four days of talks. Both sides are now ready for formal negotiations where India is expected to lower tariffs on American goods in exchange for US concessions, the government official said.

US President Donald Trump said Tuesday that India was willing to cut tariffs, hinting at possible relief for India from sweeping US tariffs. “I heard that India is going to be dropping its tariffs substantially. A lot of countries are going to drop their tariffs,” Trump said during a White House press briefing.

A query to the Commerce and Industry Ministry spokesperson did not elicit a response till late evening.Putting pressure on India and other trading partners, the United States Trade Representative (USTR) also raised a range of concerns in its report ‘Foreign Trade Barriers’ covering 29 major partner countries. As far as India is concerned, the concerns range from Internet shutdowns and dairy feed rules to restrictions on imports of agriculture and GM foods.

Ajay Srivastava, former Indian trade officer and head of the think tank Global Trade Research Initiative (GTRI), warned that while US is pressuring India to amend its trade policies to benefit American interests, New Delhi must assess each demand through the lens of its own national priorities, development goals, and cultural values.

“Many of the proposed changes—in areas like agriculture, digital governance, and public health—pose serious risks to India’s ability to protect its small farmers, maintain food safety, uphold deeply rooted social norms, and secure its digital future. India is not opposed to reform or global cooperation, but any engagement must be fair, reciprocal, and respectful of sovereignty,” he said.

USTR flags barriers, from internet shutdowns to dairy feed rules

The USTR report criticised various Indian trade barriers, from “localised internet shutdowns that disrupt commercial operations” to regulations requiring that “dairy products intended for food must be derived from animals that have not consumed feed containing blood meal.”

“India requires that dairy products intended for food be derived from animals that have not consumed feed containing internal organs, blood meal, or tissues of ruminant or porcine origin, and that exporting countries certify to these conditions, which lack a discernible animal health or human health justification,” the report said.

Highlighting possible US demands in the ongoing negotiations, the report flagged India’s regulations on the import of milk, pork, and fish products, stating that they require genetically modified (GM)-free certificates “without providing a scientific or risk-based justification.”

Indicating that Washington fears another China in the making, the report said the US has placed India on the ‘Priority Watch List’ due to inconsistent progress on intellectual property (IP) concerns. It highlighted the lack of specific laws for “trade secret protection” as a significant issue, along with long waiting periods for patent grants.

The US also raised concerns over India’s price caps on coronary stents and knee implants, arguing that they have not “kept pace with inflation” and do not account for “production costs” or innovation, and could discourage American companies from serving the market.

Agriculture, GM products, and import restrictions

The report reiterated a long-standing American concern over India’s agricultural support programmes, which, according to the US, distort markets. However, Indian officials have argued that US subsidies for farmers are much higher compared to what India provides.

The US also criticised India’s restrictions on pulse imports, calling them opaque and unpredictable. It raised concerns over import controls on boric acid, claiming that approval processes favour domestic manufacturers.The report also flagged ongoing tensions between Washington and New Delhi over genetically modified (GM) products, criticising India’s slow, opaque, and politically influenced approval process for biotechnology.

“The Food Safety and Standards Act of 2006 includes specific provisions for regulating food products derived from genetically engineered (GE) products; however, as of December 31, 2024, FSSAI was still in the process of establishing its regulations. India’s biotechnology approval processes are slow, opaque, and subject to political influences, and do not appear to take into account science-based approval processes for GE products in exporting countries,” the report said.

Data localisation and digital trade barriers

The US has expressed concerns about data localisation requirements for payment service suppliers and banks.

“In 2018, the Reserve Bank of India (RBI) implemented a requirement that all payment service suppliers store all information related to electronic payments by Indian citizens on servers located in India. RBI announced this rule without advance notice or input from stakeholders. In 2019, RBI stated that the requirement to store payments data locally also applied to banks operating in India. Foreign firms assert that the data storage requirement hampers the ability of service suppliers to detect fraud and ensure the security of their global networks,” the report said.

“The United States continues to encourage India to adopt an ‘open skies’ satellite policy to allow consumers the flexibility to select the satellite capacity provider that best suits their business requirements and to promote market access for foreign satellite service providers,” the report added. Incidentally, DOGE chief Elon Musk, a confidant of President Donald Trump, is a promoter of the Starlink satellite communication provider.

Concerns over India’s patent regime

US concerns over India’s patent regime include copyright piracy, particularly online, and issues with statutory licensing. In the field of patents, long waiting periods for patent grants, excessive reporting requirements, and concerns regarding patentability criteria were noted. The report added that the US continues to monitor restrictions on patent-eligible subject matter in Section 3(d) of the Indian Patents Act.

“Concerns also exist regarding the protection of undisclosed test data and the lack of an effective mechanism for the early resolution of pharmaceutical patent disputes. Inadequate IP enforcement, delays in trademark opposition proceedings, and the lack of specific laws for trade secret protection are also significant concerns,” the report said.

High applied tariffs remain a sticking point

The USTR criticised India’s high applied tariffs on a wide range of goods, including vegetable oils, apples, maize, motorcycles, automobiles, flowers, natural rubber, coffee, raisins, walnuts, and alcoholic beverages. It noted that the gap between India’s WTO-bound and applied tariff rates allows the government to adjust tariffs unpredictably, creating uncertainty for US stakeholders.

“The Indian government has leveraged this flexibility, increasing tariffs on approximately 70 product categories in the 2019/2020 budget and on 31 categories in 2020/2021, including key US exports,” the report said.

indianexpress

Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets.


D-Street hits a 5-year nadir in first-day-of-the-fiscal performance:-ET

 

Mumbai: India's equity indices on Tuesday posted their worst start to a new financial year in five years, ahead of US President Donald Trump's reciprocal tariff regime that's set to be unleashed on Wednesday.

The sell-off underscored investors' uncertainty over the economic impact of the tariffs, while the absence of follow-up foreign buying after the gush of flows last week poured cold water on expectations that the worst may be over for the market.

75th anniversary of India-China relations: Bilateral ties conducive for multipolar world, says Modi; Xi calls for elephant-dragon tango :-ET

 

Chinese President Xi Jinping and Indian President Droupadi Murmu exchanged congratulatory messages on the 75th anniversary of their diplomatic ties. Xi emphasized the need for peaceful coexistence and cooperation, ready to enhance communication and coordination in international affairs, and jointly ensure peace in border areas. This follows the easing of tensions post-2020 border clash.



Prime Minister Narendra Modi said development of India-China ties was conducive for a stable and multipolar world, a sentiment echoed by Chinese President Xi Jinping as leaders from the two countries exchanged messages Tuesday on the 75th anniversary of bilateral relations. Xi, in a message to President Droupadi Murmu, called for a "dragon-elephant tango" to serve the fundamental interests of both countries, state-run Xinhua news agency reported.
Besides Xi and Murmu, Chinese Premier Li Qiang and Modi and Foreign Ministers S Jaishankar and Wang Yi exchanged separate congratulatory messages on the 75th anniversary of the India-China relations, the official media reported here.

In her message, Murmu said a stable, predictable and friendly bilateral relationship will benefit both countries and the world, Xinhua reported.





Tuesday, April 1, 2025

A guide to Budget ’25 tax changes that kick in from April 1 :-moneycontrol.news

 

The new, minimal-exemptions tax regime is set to be the favoured choice of most taxpayers in 2025-26, thanks to the raft of announcements in this year's budget.

Know the Budget changes for FY 2025-26

For taxpayers, the new financial year will begin on a positive note as they are set for big savings starting April 1.

Finance Minister Nirmala Sitharaman’s budget  announcements for FY25-26 come into effect today, and those who choose the new tax regime will have to pay significantly less  this year.

Here’s a look at the income tax slab rejig and other measures that will come into force.

New slabs

The new, minimal-exemptions tax regime is set to be the favoured choice of most taxpayers this fiscal, thanks to the Finance Act, 2025-26, which has raised the basic exemption threshold from Rs 3 to 4 lakh, hiked the rebate limit from Rs 7 to 12 lakh, and widened the tax slabs. For salaried individuals, income of up to Rs 12.75 lakh will attract no tax due to the standard deduction of Rs 75,000 under the new regime.

According to Deloitte India’s calculations, a salaried individual with an income of Rs 12 lakh will see her tax outgo reduced by Rs 83,200 (inclusive of cess), while a taxpayer with an income of Rs 16 lakh will save Rs 52,000. This is assuming that she had chosen the new regime in 2024-25 as well. Likewise, someone earning Rs 1 crore will save Rs 1,25,840, while those with an income of Rs 2 crore will see their tax going down by Rs 1,31,560.




Old vs new regimes: switch to save

Starting this year, most salaried individuals will save more on their tax outgo under the new regime unless they claim a substantial  house rent allowance (HRA) exemption. This is because the minimum deduction amount required for the old tax regime to be more beneficial is now significantly higher.

Per Deloitte's calculations, those earning more than Rs 24 lakh will have to claim deductions of Rs 8 lakh or more for the old tax regime to be beneficial. Put simply, popular deductions under section 80C (tax saving investment of Rs 1.5 lakh), 80D (health insurance premium of Rs 1 lakh), and 24B (Rs 2 lakh in home loan interest) will not be enough to offset the benefits offered under the new regime.

The new tax regime is the default framework, but ensure that you communicate your decision to pick this regime to your employer in April, when you submit your proposed investment declarations.

New income tax regime