🚀 𝑴𝒂𝒋𝒐𝒓 𝑻𝒂𝒙 & 𝑮𝑺𝑻 𝑪𝒉𝒂𝒏𝒈𝒆𝒔 𝒊𝒏 𝑰𝒏𝒅𝒊𝒂 𝒇𝒓𝒐𝒎 𝑨𝒑𝒓𝒊𝒍 1, 2025! 

As we step into FY 2025-26, several important tax and GST changes will take effect. Here's a quick summary of the key updates you should know!

🏦 𝐼𝑛𝑐𝑜𝑚𝑒 𝑇𝑎𝑥 𝐶ℎ𝑎𝑛𝑔𝑒𝑠 

✅ 𝐇𝐢𝐠𝐡𝐞𝐫 𝐓𝐚𝐱 𝐑𝐞𝐛𝐚𝐭𝐞 𝐮𝐧𝐝𝐞𝐫 𝐒𝐞𝐜 𝟖𝟕𝐀 – Increased from ₹25,000 to ₹60,000 for incomes up to ₹12 lakh (New Regime).
✅ 𝐑𝐞𝐯𝐢𝐬𝐞𝐝 𝐓𝐚𝐱 𝐒𝐥𝐚𝐛𝐬 – Basic exemption raised to ₹4 lakh; highest 30% tax on income above ₹24 lakh.
✅ 𝐇𝐢𝐠𝐡𝐞𝐫 𝐓𝐃𝐒 𝐓𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝𝐬 – Bank deposit TDS limit increased from ₹40,000 to ₹50,000.
✅ 𝐏𝐞𝐫𝐪𝐮𝐢𝐬𝐢𝐭𝐞 𝐄𝐱𝐞𝐦𝐩𝐭𝐢𝐨𝐧𝐬 – Employer-paid foreign medical expenses are no longer taxable.
✅ 𝐍𝐏𝐒 𝐕𝐚𝐭𝐬𝐚𝐥𝐲𝐚 𝐓𝐚𝐱 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 – Additional ₹50,000 deduction on contributions to children’s NPS accounts.
✅ 𝐔𝐋𝐈𝐏 𝐆𝐚𝐢𝐧𝐬 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧 – Proceeds above ₹2.5 lakh premium now taxed as capital gains.
✅ 𝐒𝐞𝐥𝐟-𝐎𝐜𝐜𝐮𝐩𝐢𝐞𝐝 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐑𝐮𝐥𝐞 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐝 – Claim nil value on up to two properties, even if not occupied.

🏢 𝐺𝑆𝑇 𝑈𝑝𝑑𝑎𝑡𝑒𝑠 

🔹 𝐌𝐚𝐧𝐝𝐚𝐭𝐨𝐫𝐲 𝐌𝐮𝐥𝐭𝐢-𝐅𝐚𝐜𝐭𝐨𝐫 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐌𝐅𝐀) – Required for all taxpayers from April 1, 2025.
🔹 𝐍𝐞𝐰 𝐄-𝐖𝐚𝐲 𝐁𝐢𝐥𝐥 & 𝐄-𝐈𝐧𝐯𝐨𝐢𝐜𝐞 𝐒𝐲𝐬𝐭𝐞𝐦 – Enhanced security & restricted extensions.
🔹 𝐒𝐞𝐪𝐮𝐞𝐧𝐭𝐢𝐚𝐥 𝐆𝐒𝐓𝐑-𝟕 𝐅𝐢𝐥𝐢𝐧𝐠 – Ensuring accurate tax deduction at source (TDS) reporting.
🔹 𝐁𝐢𝐨𝐦𝐞𝐭𝐫𝐢𝐜 𝐕𝐞𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫𝐬 – Now available at any GST Suvidha Kendra (GSK).
🔹 𝐈𝐧𝐩𝐮𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐨𝐫 (𝐈𝐒𝐃) 𝐒𝐲𝐬𝐭𝐞𝐦 – Mandatory ITC distribution for businesses.
🔹 𝐆𝐒𝐓 𝐑𝐚𝐭𝐞 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 –
✅ Hotels (Above ₹7,500/day) – 18% GST with ITC.
✅ Used Cars – GST rate increased from 12% to 18%.
🔹 𝐍𝐞𝐰 𝐈𝐧𝐯𝐨𝐢𝐜𝐞 𝐒𝐞𝐫𝐢𝐞𝐬 𝐟𝐫𝐨𝐦 𝐀𝐩𝐫𝐢𝐥 𝟏 – Start fresh invoice numbering for compliance.
🔹 𝐋𝐚𝐬𝐭 𝐃𝐚𝐭𝐞 𝐟𝐨𝐫 𝐈𝐓𝐂 𝐂𝐥𝐚𝐢𝐦𝐬 – Past FY ITC claims valid until Nov 30, 2025.

⚡ These reforms aim to streamline taxation, enhance compliance, and provide relief to taxpayers. Stay updated and plan accordingly!

📢 Have questions? Drop them in the comments! 💬

#TaxUpdates #GSTIndia #Finance2025 #IncomeTax #BusinessCompliance 🚀