CAalley Newsletter - Budget Special

Following are the updates for the Union Budget 2025 presented by Smt. Nirmala Sitharaman today:

Budget Documents

News Updates

Customs Notifications

Central Excise Notification

 

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Budget Documents

CBDT - FAQs on Budget Proposals related to Direct Taxes

CBIC - FAQs on Budget Proposals related to Indirect Taxes

CBDT - Notes on Clauses

CBIC - D.O. Letter from JS(TRU-I)

Budget Documents

Key Features of Budget 2025-2026

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News Updates

Budget unveils 6-year plan to cut debt-to-GDP ratio to 47.5-52% by FY31

Budget boost for AIFs: Securities reclassified as capital assets

UK businesses 'encouraged' by Budget focus on growth, trust-based approach

India's tax relief might not spur growth or debt reduction: Moody's

Now no more prosecution for delayed payment of TCS if its paid by this date: Budget 2025

Big change in this tax free perquisite of a salaried employee in Budget 2025

TDS limit for interest income from bank FD hiked from Rs 40,000 in Budget 2025: Check details

NPS Vatsalya tax benefits: FM proposes to cover NPS Vatsalya under 80CCD(1B) tax break

Now, ‘Heal in India’—Budget push can elevate India as a global healthcare destination: India Inc

Modified UDAN scheme to have 120 new destinations

FM Sitharaman announces scheme to make India a global hub for toys

Sitharaman proposes national manufacturing mission to boost India's 'atmanirbharta'

FM Sitharaman announces Bharat Trade Net to streamline trade documentation and financing

India Post to be transformed into large logistic body with 1.5 lakh rural post offices

Govt raises FDI in insurance to 100% with key conditions

Income tax rules for search cases to apply to crypto income for up to 6 previous assessment years from February 1, 2025

Sitharaman just gave NRIs more reasons to park their cash in India

TDS limit for dividend income hiked from current Rs 5000 in Budget 2025: small shareholders to benefit

TDS rules relaxed for lottery, these other incomes: Budget 2025

Firms up to Rs 500 crore are now medium; MSMEs get a new definition

Deadline to file updated tax return extended in Budget 2025

TDS on rent up to Rs 6 lakh, relief for rental income earners

Income tax rules for house property simplified in Budget 2025: How it will benefit taxpayers with 2 houses

TCS on foreign remittances up to Rs 10 lakh; none on foreign education loan

Budget 2025 announces revamped Central KYC registry for better data privacy

In election year, here's what Bihar got in Nirmala Sitharaman's Budget 2025

Women, SC/STs entrepreneurs can now get up to Rs 2 crore loan

Social security, healthcare schemes to help 10 mn gig workers

Sitharaman announces export promotion mission with sectoral targets

TDS limit for interest income of senior citizens doubled from Rs 50,000 in Budget 2025

Budget 2025 exempts withdrawals from NSS a/cs up to August 29, 2024 from tax

Budget 2025 unveils bold roadmap for transformative tax reforms

What's cheaper and what's costlier for consumers?

Nirmala Sitharaman to unveil new Income Tax Bill next week

No tax on income up to Rs 12 lakh in new tax regime

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Customs Notifications

Seeks to Amend Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 to extend certain timelines [Budget Notification No.7(NT)]

Seeks to further amend notification No. 153/94-Customs dated 13th July, 1994 [Budget Notification No.13]

Seeks to further amend notification No. 19/2019 dated 06th July, 2019 [Budget Notification No.12]

Seeks to further amend notification No. 25/2002-Customs, dated the 1st March, 2002 so as to add capital goods to the already existing list of capital goods exempted from basic customs duty for manufacture of lithium-ion battery of mobile phones and electrically operated vehicles [Budget Notification No.11]

Seeks to further amend notification No. 57/2017 dated 30th June, 2017 so as to change BCD rates on inputs/parts used for manufacture of parts of cellular mobile phones along with other high technology telecom equipments [Budget Notification No.10]

Seeks to further amend notification No. 16/2017-Customs, dated the 20th April, 2017 so to exempt certain drugs for supply under Patient Assistance Programme run by specified pharmaceutical companies [Budget Notification No.9]

Seeks to further amend notification No. 22/2022-Customs, dated the 30th April, 2022 [Budget Notification No.8]

Seeks to further amend notification No. 11/2018-Customs dated 02th February, 2018 so as to exempt specified goods from the whole of levy of Social Welfare Surcharge [Budget Notification No.7]

Seeks to further amend notification No. 11/2021-Customs dated the 01st February, 2021 to prescribe effective rates of AIDC to certain goods [Budget Notification No.6]

Seeks to further amend notification No. 50/2017-Customs dated the 30th June, 2017 so as to notify BCD related changes [Budget Notification No.5]

Seeks to exempt the import duty on goods which are being rationalized in the tariff [Budget Notification No.4]

Seeks to further amend notification No. 27/2011-Customs dated 30th June, 2017 so as to reduce the export duty on crust leather [Budget Notification No.3]

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Central Excise Notification

Seeks to further amend notification No. 11/2017-Central Excise dated 30th June, 2017 so as to extend the date of implementation of additional duty of excise on unblended diesel [Budget Notification No.1]

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