<h1>Finance Ministry Unveils Tax Cuts: 25% Corporate Tax, Section 80C Deduction Hike, Startup Incentives, and More.</h1> The Revenue Department of the Ministry of Finance announced measures to support small taxpayers, businesses, and professionals, aiming to boost growth and employment. Key initiatives include reducing corporate tax rates to 25% for new manufacturing companies, extending tax benefits for the housing sector, and lowering taxes on royalties and technical service fees from 25% to 10%. Tax incentives for startups are also provided. The deduction limit under section 80C of the Income Tax Act has been raised from Rs. 1 lakh to Rs. 2 lakh annually, with an additional Rs. 50,000 for NPS contributions. The presumptive taxation regime now covers small businesses with turnover up to Rs. 2 crores and professionals with turnover up to Rs. 50 lakhs.