Budget 2025 : Finance Minister Nirmala Sitharaman chaired a pre-Budget 2025 meeting with representatives from the capital market and financial sector. Representatives from the capital market and financial sector submit a range of recommendations for the upcoming Union Budget 2025-26.
From treating fixed deposit interest separately from income tax to simplification of KYC norms for non-resident Indians (NRIs), representatives from the capital market and financial sector made quite a few recommendations to the finance minister.
The capital market and financial sector representatives have made several suggestions to the finance minister during pre-budget consultation held on Thursday. ET NOW has learnt from sources that the industry has urged the government’s focus on the operational aspect of the stock market.
This includes incentivisation of long-term savings, both at debt and equity levels. Along with that, sources added that the industry has suggested to the government that the interest on fixed deposits should not be linked to the income tax slab for tax reduction purposes. In fact, interest on FD should be treated on par with the equity products for tax treatment.
Content retrieved from: https://www.etnownews.com/budget/budget-2025-fd-interests-taxation-to-incentivisation-of-savings-recommendations-from-pre-budget-meet-article-116891774.
