<h1>Major Tax Reforms in 2024-2025 Budget: Simplified Taxation, Digital Services, Dispute Resolution Scheme, and Broadened Tax Base.</h1> The Union Finance Minister announced significant tax reforms in the 2024-2025 Budget aimed at simplifying taxation and enhancing taxpayer services. Key measures include a comprehensive review of the Income-tax Act, 1961, digitalization of GST, Customs, and Income Tax services, and the introduction of the Vivad se Vishwas Scheme, 2024 to resolve pending tax disputes. The budget also proposes merging tax exemption regimes for charities, reducing TDS rates, and increasing monetary limits for tax-related appeals. Additionally, the budget aims to expand the tax base by increasing the Security Transactions Tax and taxing income from share buybacks, with a projected net revenue impact of Rs. 7,000 crore annually.