Summary: The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, focused on reforms in taxation, agriculture, MSMEs, and exports. Direct tax proposals included no tax on incomes up to ...

In terms of GST-specific amendments, Budget 2025 also focused on pre-deposit amounts for GST appeals, reducing penalties for E-way bill violations and introducing a 10% penalty for other infractions.

Union Budget, Finance Minister Nirmala Sitharaman offered a glimmer of hope by announcing a six-month review of the 1961 Act.

Additionally, two-thirds of personal tax filers have opted for the new tax regime. The government is undertaking a thorough review of the Income Tax Act, with completion expected within the next ...

The government has proposed introduction of a tax rebate for individuals having taxable income of up to Rs.12 lakh per annum in the new tax regime. If we include standard deduction of Rs.75,000, ...