<h1>Finance Bill 2014: Service Tax Simplification, Broader Tax Base, Income Tax Benefits & New Exemptions for Union Budget 2014-2015.</h1> The Finance Bill (No. 2) 2014 introduced several amendments impacting service tax, central excise, customs, and income tax regulations for the Union Budget 2014-2015. Key changes include simplification of service tax procedures, broadening the tax base, and new exemptions. Central excise and customs duties saw rate adjustments, while income tax amendments addressed tax benefits for private sector employees, capital gains exemptions, and the taxation regime for charitable trusts. The bill also proposed changes to tax deduction at source, corporate social responsibility, and international transaction definitions, alongside incentives for manufacturing companies and the power sector.