The Finance Act 2025 Guide 5t5l28

Android App Analysis and Review: The Finance Act 2025 Guide, Developed by Banaka. Listed in Books & reference Category. Current Version Is 1.0.0, Updated On 01/04/2025 . According to s reviews on Google Play: The Finance Act 2025 Guide. Achieved Over 43 Installs. The Finance Act 2025 Guide Currently Has 1 Reviews, Average Rating 5.0 Stars

Disclaimer: This application is not d with, endorsed by, or representative of any government entity. It is a privately developed platform created for educational purposes. All content is sourced from publicly available document: https://www.indiabudget.gov.in/doc/Finance_Bill.pdf

The Finance Act 2025, enacted by the Indian government, introduces several significant reforms across direct and indirect taxation to stimulate economic growth and simplify tax compliance.​

Direct Tax Reforms:

Revised Income Tax Slabs: The Act raises the tax exemption threshold to ₹4,00,000, with subsequent slabs taxed progressively from 5% to 30% for higher income brackets. Notably, the income threshold for tax rebate eligibility under Section 87A is increased to ₹12,00,000, offering a maximum rebate of ₹60,000. ​
TaxGuru

Standard Deduction Increase: The standard deduction for salaried individuals is elevated from ₹50,000 to ₹75,000, enhancing disposable income for taxpayers. ​

New Income Tax Bill: A new Income Tax Bill is set to replace the Income Tax Act of 1961, aiming to simplify tax compliance and reduce the complexity of current tax laws by up to 60%. ​
ClearTax

Indirect Tax Reforms:

GST Amendments: The Act introduces significant changes to the Goods and Services Tax (GST) framework, focusing on simplifying compliance, enhancing regulatory oversight, and refining tax treatment for specific transactions. ​
Comarch

Customs Duty Reductions: To promote local manufacturing and exports, the Act removes import duties on 35 items related to electric vehicle (EV) battery production and 28 items pertinent to mobile phone manufacturing. ​
Reuters

Digital ment Tax Removal: The Act eliminates the 6% tax on digital ments, benefiting major tech companies and addressing international trade concerns. ​

These reforms reflect the government's commitment to fostering economic growth, enhancing taxpayer compliance, and creating a more business-friendly environment in India.

This is a must read for students and professionals of Finance in India

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