The Finance Act, 2025
On 29th March 2025, the Government notified The Finance Act, 2025 to give effect to the financial proposals of the Central Government for the financial year 2025-2026.
Key Provisions
- Abolition of Equalisation Levy: The government proposes to abolish the 6% equalisation levy (EL) on online advertisements, effective 1st April 2025.
- Tax Rationalization: Several provisions have been simplified to provide tax relief and enhance compliance for businesses and individuals.
- Income Tax Rebate: Under the new tax regime, the rebate limit under Section 87A is increased to Rs. 12 lakh (from Rs. 7 lakh). Individuals earning up to Rs. 12 lakh will pay no ....
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