As the new financial year begins on April 1, 2025, several key financial and regulatory changes will come into effect that will impact salaried individuals, pensioners, UPI users, and businesses alike.

Revised income tax slabs bring relief to middle-income earners

Under the new tax regime announced in the Union Budget, individuals earning up to ₹12 lakh annually will be exempt from paying income tax. The revised slab also includes a standard deduction of ₹75,000, effectively exempting those with an annual salary up to ₹12.75 lakh from taxes.

Here is the new tax structure:

• Up to Rs 4 lakh – No tax
• Rs 4 lakh to Rs 8 lakh – 5%
• Rs 8 lakh to Rs 12 lakh – 10%
• Rs 12 lakh to Rs 16 lakh – 15%
• Rs 16 lakh to Rs 20 lakh – 20%
• Rs 20 lakh to Rs 24 lakh – 25%
• Above Rs 24 lakh – 30%
  

Unified Pension Scheme promises post-retirement stability for government staff

The Unified Pension Scheme (UPS), launched in August 2024, will come into force from April 1. The scheme is aimed at benefiting around 23 lakh central government employees. Those who have served for 25 years or more will be entitled to a pension equal to 50% of their average basic salary over the last 12 months, offering a more secure retirement.

UPI security tightened with inactive number purge

To enhance digital payment security, the National Payments Corporation of India (NPCI) has issued guidelines for banks and UPI service providers to phase out inactive mobile numbers linked with UPI.

From April 1, UPI platforms are mandated to use the Mobile Number Revocation List (MNRL) and Digital Intelligence Platform (DIP) to regularly update user data—at least once a week. Users with inactive numbers are advised to update their mobile details with their banks to prevent loss of UPI access or potential misuse.

GST filing and authentication norms become stricter

In the GST domain, multi-factor authentication (MFA) will become mandatory for users logging into the GST portal, improving data security. Further updates include:

• E-Way Bills (EWB) will be restricted to documents not older than 180 days.
• GSTR-7 filings for Tax Deducted at Source (TDS) must now be filed in sequence with no skipping of months.
  Promoters and directors will be required to visit a GST Suvidha Kendra for biometric verification.

These changes are part of broader efforts to streamline compliance and secure financial systems as the country enters the new fiscal year.

Former UP Shia Waqf Board chief Jitendra Narayan Tyagi (formerly Wasim Rizvi) has approached the Supreme Court seeking the clubbing of multiple criminal cases filed against him in Uttarakhand and Jammu & Kashmir for alleged hate speeches and derogatory remarks against Islam and the Muslim community.

The Supreme Court bench of Justices Vikram Nath and Sandeep Mehta on Friday issued notices to the governments of Uttarakhand and the Union Territory of Jammu & Kashmir, asking for a reply within four weeks.

Tyagi, who is facing at least four separate cases, including FIRs and private complaints, has requested that all proceedings be consolidated at a single location, citing grave security threats if he is forced to travel, especially to Jammu & Kashmir. In his plea, he stated that he has only two security guards despite “serious life threats” and that “appearing before the courts in J&K could be fatal.”

During the hearing, Tyagi’s lawyer Anurag Kishore sought interim protection from the court, citing life threats. However, the bench declined the request, remarking that “threats exist everywhere.”

Initially hesitant, the court agreed to examine the plea and issue formal notices to the respective state authorities.

Background of the cases

Tyagi is currently facing multiple criminal proceedings:

An FIR in Haridwar for allegedly making defamatory remarks about Prophet Muhammad during the release of his book Muhammad in June 2021.

A private complaint in Srinagar, J&K, over alleged insulting remarks against Islam made in a July 2021 TV broadcast from Lucknow.

An FIR in Haridwar from December 2021 for statements made at the Dharma Sansad, a religious event.

A third FIR in January 2022 also in Uttarakhand, based on similar allegations.

Tyagi, who converted from Islam to Hinduism, has been a controversial figure and has previously made inflammatory remarks, triggering legal and public backlash.

His legal team, comprising Anurag Kishore, Lakhan Kumar Mishra, and Ritika Shrivastava, argued that the multiplicity of cases and summons across different states poses not only a logistical burden but also a serious threat to his safety.

By Mohammad Javed Rasheedi

US President Donald Trump has praised Prime Minister Narendra Modi and expressed confidence in India-US trade ties, even as his administration moves forward with a 25% import tariff on all vehicles, effective April 2.

Calling India “one of the highest tariffing nations in the world,” Trump noted the issue remains central to trade negotiations. However, he also stressed the strength of his personal rapport with PM Modi, saying: “He is a very smart man and a great friend of mine.”

Trump added that his recent discussions with the Prime Minister Narendra Modi had gone well and expressed optimism, saying: “I think it’s going to work out very well between India and our country.”

Trump, who has long criticized India’s trade practices, reiterated that the country remains one of the highest tariff-imposing nations. His declaration of “reciprocal tariffs” suggests countries like India should brace for economic pushback. “They charge us, we charge them,” Trump said recently.

But despite the aggressive rhetoric, Trump’s remarks about PM Modi paint a completely different picture — one of camaraderie, not confrontation. “We had very good talks. I think it’s going to work out very well between India and our country,” he added.

The vehicle tariff, which Trump announced earlier this week, is expected to impact nearly half of all vehicles sold in the US, including those built abroad by American companies. The move is part of the administration’s broader push for “reciprocal tariffs”, with Trump asserting: “They charge us, we charge them.”

Praise, pressure, and political convenience?

Trump’s warm words for Modi come just weeks after the Indian PM visited Washington DC in February. The two leaders launched “Mission 500”, a goal to double India-US trade to $500 billion by 2030. But while the mission sounds ambitious, it’s unclear how it aligns with a 25% import duty on a key sector like automobiles.

Critics argue that Trump’s approach — praising allies while penalizing them economically — reflects a broader pattern of political double-speak. On one hand, the US demands fairer access to foreign markets. On the other, it escalates trade tensions through blanket tariffs.

Vehicle tariffs: protection or provocation?

The new tariff, set to hit half of all vehicles sold in the US — including American-made cars assembled abroad — has already raised concerns among automakers and trade analysts. If India chooses to respond, the so-called “good talks” Trump refers to could quickly turn sour.

While the White House pitches the move as pro-jobs and pro-fairness, its timing — coupled with contradictory praise — raises doubt about the coherence of US trade policy, especially toward close allies like India.

The US and India have long had friction over tariff imbalances, but the tone from both sides remains constructive, with trade fairness, national security, and job creation identified as shared goals.