The FAQs cover various amendments and proposals related to direct taxes in the 2025 Budget. Key highlights include tax reforms for the middle class, with new tax slabs and rebates for individuals earning up to Rs. 12 lakhs. The document details incentives for the International Financial Services Centre (IFSC), such as tax exemptions for life insurance policies and aircraft leasing units. It also discusses changes to transfer pricing provisions, charitable trusts, and startup tax benefits. Other amendments involve rationalizing tax rates for non-residents, extending deadlines for investments by Sovereign Wealth Funds and Pension Funds, and introducing presumptive taxation for non-residents providing services to electronics manufacturing facilities. The FAQs further clarify tax treatment for various financial instruments and transactions, including crypto-assets, and simplify compliance requirements for taxpayers.
The Complete FAQs can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2025/02/FAQs-on-Direct-Taxes-Budget.pdf
