The Income Tax Bill of 2025 contains substantial alterations with respect to the provisions concerning Profits and Gains from Business and Profession to provide added clarity, coherence and adherence. Herein is a detailed analysis of the other prominent amendments: 1.
The Income Tax Bill, 2025, intends to streamline and reorganize the current Income-tax Act, 1961, and has been presented in Parliament. As taxpayers look for clarity regarding the new tax system, specific rate rules, and compliance obligations, here are several
Overview The Reserve Bank of India (RBI) stated in its latest bulletin dated February 19 that the tax cuts in the Union Budget 2025, along with falling inflation, should boost people’s spending. This was validated by the recently appointed RBI
The Reserve Bank of India (RBI) has released draft guidelines aimed at eliminating foreclosure charges and prepayment penalties on floating rate loans. The proposal is part of an effort to enhance transparency and flexibility for borrowers.
CBIC introduces a new facility for accredited importers to store and clear goods at their premises. This will revolutionize import logistics and bring numerous benefits to enhance efficiency and compliance. A New Era of Import Operations The new facility is
In a speech given not too long ago, Finance Minister Nirmala Sitharaman noted that Indian Customs has improved the trade and economy of the country and added that it plays a crucial role in the growth of commerce. His statements
The launch of the RBIDATA app by the Reserve Bank of India is a commendable step towards transparency and informed decision-making within the Indian economy. Now, through this platform, a complete range of economic and financial data is available at
The Union Budget 2025-26 presents a range of initiatives designed to bolster the Micro, Small, and Medium Enterprises (MSME) sector, acknowledging its significance as a vital driver in India’s development path, together with agriculture, investment, and exports. To support business
The Reserve Bank of India (RBI) on Friday cut the repo rate — the rate at which the RBI provides loans to other banks — by 25 basis points to 6.25 percent. This is the first time in five years
Union Finance Minister Nirmala Sitharaman, while presenting the 2025-26 Budget on February 1, declared important reforms focused on boosting Micro, Small, and Medium Enterprises (MSMEs) and start-ups. During the Budget Speech, the finance minister also announced that the investment and
Finance Minister Nirmala Sitharaman in her Budget for 2025 offered tax relief to homeowners with two house properties. “It is proposed to provide that the annual value of the property consisting of a house or any part thereof shall be
The Union Budget has introduced initiatives to bolster consumption while upholding fiscal discipline; it is now up to the central bank to invigorate the lackluster economic growth. The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI)
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