Budget 2025: Nirmala Sitharaman Signals Tax Cuts on the Horizon

Finance Minister Nirmala Sitharaman on tax relief has underlined the government’s commitment to guaranteeing an equitable and effective tax system in an effort to promote greater financial inclusion and tax reforms. The government continues to implement policies that provide both short-term and long-term financial assistance to people and businesses, all with the goal of lessening the burden on taxpayers.

Income Tax Relief: CBDT Extends Vivad Se Vishwas Scheme 2024 Deadline, Allowing Taxpayers More Time to Pay Lower Amount of Tax to Settle Dispute

For taxpayers wishing to settle long-standing income tax issues, the Central Board of Direct Taxes (CBDT) has extended the deadline for the Vivad Se Vishwas scheme. With this extension, taxpayers can pay a much smaller portion of the contested tax and have more time to resolve their claims. Taxpayers now have the chance to pay off any outstanding tax obligations with less financial strain thanks to a streamlined procedure and longer deadlines, guaranteeing completion without incurring increasing fines. Finance Minister Nirmala Sitharaman on tax relief.

Budget Wishlist: Mutual Fund Industry Seeks Tax Relief on Debt Schemes

As the budget season approaches, the mutual fund sector has a major concern: tax relief for debt schemes. Currently, long-term capital gains on debt fund investments are heavily taxed, prompting requests for relief. Tax relief, according to industry stakeholders, would increase the attractiveness of debt funds, resulting in increased participation in the financial market and allowing investors to keep more of their gains.

India Inc Urges Higher Capex, Tax Relief in FY26 Budget

In preparation for the FY26 Budget, India Inc. has urged for increased capital investment (Capex) and additional tax relief. With an emphasis on infrastructure and industrial expansion, India Inc anticipates that the government would prioritise tax relief measures to encourage corporate investment. Industry leaders are requesting a more favourable tax regime to improve their ability to invest in new projects, create jobs, and promote economic development.

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