https://www.taxtmi.com/news?id=32347 Direct tax reform removes personal income tax for incomes below a specified threshold, preserves a salaried standard deduction raising the effective exempt limit, foregoes significant direct tax revenue and introduces a New Income Tax Bill to simplify law. Indirect tax rationalisation removes seven tariff rates and exempts the Social Welfare Surcharge on specified tariff lines. Insurance sector FDI limits are raised to full ownership, alongside enhanced capital expenditure, asset monetisation, MSME credit measures, and targeted sectoral missions for agriculture, manufacturing and infrastructure. en-us Sat, 01 Feb 2025 14:16:03 +0530 Sat, 01 Feb 2025 14:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=32347 Direct tax reform removes personal income tax for incomes below a specified threshold, preserves a salaried standard deduction raising the effective exempt limit, foregoes significant direct tax revenue and introduces a New Income Tax Bill to simplify law. Indirect tax rationalisation removes seven tariff rates and exempts the Social Welfare Surcharge on specified tariff lines. Insurance sector FDI limits are raised to full ownership, alongside enhanced capital expenditure, asset monetisation, MSME credit measures, and targeted sectoral missions for agriculture, manufacturing and infrastructure. News - Sat, 01 Feb 2025 14:16:03 +0530 https://www.taxtmi.com/news?id=32347