New Delhi, March 20 (IANS) Finance Minister Nirmala Sitharaman on Friday said the new Income-tax Act, 2025 will bring major relief for small business owners and professionals by simplifying rules and reducing compliance burden, while also aiming to cut down tax-related disputes.Speaking at the launch of the nationwide awareness campaign ‘PRARAMBH 2026’, FM Sitharaman highlighted that small businesses and professionals are the backbone of India’s economy and the new law has been designed ke…
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New Delhi, Jan 22 (IANS) A FICCI pre-Budget survey on Thursday reflected strong optimism across industry, with nearly 80 per cent of respondents expressing confidence in India’s growth prospects.Nearly half of the participants expect GDP growth to remain in the 7–8 per cent range in FY 2026–27, reaffirming faith in India’s medium-term fundamentals despite persistent global uncertainties.According to the FICCI survey, industry also underscored the importance of fiscal prudence, with aroun…
New Delhi, Jan 1 (IANS) Despite the steep cut in GST rates, a growth of over 6 per cent in gross monthly collection in December is encouraging, industry experts said on Thursday.India’s GST (goods and services tax) collection recorded a 6.1 per cent increase to Rs 1,74,550 crore in December 2025 compared to Rs 1,64,556 crore the same month of the previous year, reflecting the increase in economic activity during the month.“If this momentum continues for the remaining months of this fiscal, t…
New Delhi, Dec 24 (IANS) Recent reforms under GST 2.0 show that simplification and tax moderation can coexist with strong revenue growth, a report said on Wednesday, calling for freezing peak tax rates and expanding tax base through technology.The white paper from Think Change Forum said that recent GST reforms proved wrong the long-held belief that higher tax rates are necessary to boost collections as gross GST collections rose 4.5 per cent (on-year) to Rs 1.95 lakh crore in October 2025.The r…