<h1>Finance Bill 2025: Major Tax Relief, Income Tax Rebate Raised, Equalisation Levy Abolished, Pension Parity Reinstated</h1> The Finance Bill 2025, presented by the Finance Minister, introduces significant tax relief measures, including an increase in the income tax rebate to Rs 12 lakh annually, with a further increase to Rs 12.75 lakh for salaried individuals. This move is expected to result in a tax revenue loss of Rs 1 lakh crore for FY26. The bill also proposes the abolition of the 6% Equalisation Levy on online ads and rationalizes customs duties to enhance domestic production and export competitiveness. Additionally, a campaign encouraging taxpayers to disclose foreign assets led to significant declarations, totaling Rs 29,208 crore in foreign assets. The government has also reinstated pension parity as recommended by the Sixth Central Pay Commission.