Finance Minister Nirmala Sitharaman presented the Union Budget 2025, with a focus on stability and growth. Here are the key highlights from her speech:
Direct and Indirect Tax:
➤ No changes in direct and indirect tax, including import tax
➤ Existing tax rates for both direct and indirect taxes retained
➤ Tax break for start-ups and investments by sovereign wealth funds extended to March 31, 2025
➤ Emphasis on improving taxpayer services
➤ Ongoing tax reforms have widened the tax base and boosted tax collections
➤ Government to withdraw old disputed tax cases to ease litigation burden
Stay tuned for more updates on how these changes will impact various sectors and the economy!