The Union Budget 2025-26, presented by the Hon’ble Finance Minister, emphasizes inclusive growth, fiscal prudence, and structural reforms aimed at strengthening the economy and fostering a resilient, self-reliant India. This Union Budget reinforces the vision of Viksit Bharat by 2047. The government remains steadfast of the fiscal glide path with a fiscal deficit target of 4.4% of GDP.
On the tax front the biggest positive surprise is huge give away in the form of enhanced tax slabs for individuals under the new regime for personal taxation with no tax for income up to INR 1.2 million, by far a record since many years. No major amendments are proposed for taxation of businesses as also the tax rates applicable to them. The new Tax Bill is promised to be introduced in the next week to bring in tax certainty and reduce litigation. Other notable proposals include FDI limits raised for the insurance sector and trade policies to enhance ease of doing business.
Indirect tax proposals focus on tariff rationalization, duty inversion, and streamlined customs duties to boost manufacturing and trade. A single cess/surcharge simplifies tax incidence, while a voluntary compliance scheme enhances efficiency. On GST, 11.30% increase in collections is projected for FYE 2026.
Event & Webinars
Dhruva Advisors & Taxsutra Webinar on the Indian Union Budget 2025-26
Event Type: Virtual | Location: Online
February 1, 2025, at 5.00 pm – 6.30 pm IST
Dhruva Advisors & Indian Chamber of Commerce, Kolkata (ICC)
Event Type: Physical | Location: Kolkata
February 1, 2025, at 6.00 pm – 8.50 pm IST
IIFL Securities & Dhruva Advisors – Union Budget 2025-26: Deciphering the tax proposals
Event Type: Virtual | Location: Online
February 3, 2025, at 4.00 pm IST
HSBC & Dhruva Advisors – Exclusive CFO & Finance Controller Post-Budget Analysis
Event Type: Physical | Location: Kolkata
February 3, 2025, at 7.00 pm IST
Unlocking the Indian Budget 2025: Insights for Singapore Investors
Event Type: Physical | Location: Singapore
February 6, 2025 from 6:45 PM – 8:30 PM SGT
Budget Videos
07 February, 2025
07 February, 2025
07 February, 2025
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01 February, 2025
16 January, 2025
Budget News
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01 February 2025
Reducing compliance costs for indirect taxes – A wishlist for Budget 2025
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31 January 2025
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31 January 2025
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30 January 2025
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30 January 2025
Tax Slab Expectations: Meaningful tax relief, basic exemption limit to Rs 5 lakh, slash number of TDS rates in Budget 20...
Business Today
30 January 2025