Understanding Income Tax Reforms: Budget 2025 Explained

The Budget 2025 brings a comprehensive overhaul of the income tax system, introducing key reforms that impact individuals, businesses, and investors alike. From revised tax rates and enhanced compliance measures to changes in capital gains taxation and international tax policies, the new provisions aim to simplify processes while promoting economic growth. This article provides a detailed breakdown of the major changes, covering tax rates, individual and business taxation, capital gains, and special provisions for the International Financial Services Centres (IFSC). Additionally, we explore reforms in international taxation, charitable trusts, tax administration, and compliance, along with updates on Tax Deduction at Source (TDS).  

For a detailed explanation of the Income Tax reforms in Budget 2025, please refer to the attached PDF.  

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