Big changes in the laws related to income tax- Know what the experts say and what are the expectations
Major changes in income tax laws – expert opinion and future expectations
Many important changes have been made in India regarding income tax in 2025, which can affect everyone from common citizens to traders and investors.
- Changes in new tax slabs and exemptions
The new tax regime has been made more attractive.
There is a possibility of increasing the standard deduction and exemption limit.
The old tax regime is being considered to be phased out.
- Digital payments and tax monitoring
TDS and TCS rules on digital transactions have been made more stringent.
Monitoring has been increased on large transactions made through UPI and other digital means.
- Relief to business and startups
The government is considering increasing the startup tax exemption.
Lower corporate tax rates may be implemented for small and medium traders.
- Expert opinion
Tax experts believe that the government’s focus is on simplification for taxpayers and tracking digital transactions.
According to some experts, small taxpayers are expected to get more relief.
The business community wants GST and income tax to be simplified further.
- Important points for taxpayers
Understand the new tax slab and plan your investments.
Keep in mind the tax rules on digital transactions.
Stay updated on the new deadline for ITR filing.