India, Dec. 30 -- The Government of India has issued a release:
Key Takeaways
Key Takeaways
Income Tax Reforms
The Income Tax Act, 2025 modernizes India's direct tax framework by simplifying and streamlining tax legislation, making it more accessible, transparent, and less prone to litigation. A key reform is the introduction of a unified "Tax Year - the twelve-month period of the financial year commencing on the 1st April", replaces the earlier concepts of Assessment Year and Previous Year. It not only improves clarity and makes it easier for taxpayers to understand the financial period their income and tax filings, but also reduces ambiguity in compliance and interpretation.
Labour Reforms
Rural Employment Reforms
Ease of Doing Bus...