https://www.taxtmi.com/news?id=68811 The Income Tax Act 2025, effective April 1, 2026, exempts income up to Rs 12 lakh and simplifies personal tax provisions. GST 2.0, effective September 22, 2025, establishes a two tier GST of mainly 5% and 18% with a 40% rate for ultra luxury and tobacco, moving most 12% items to 5% and many 28% items to 18%, producing government stated citizen savings of Rs 1 lakh crore. en-us Wed, 28 Jan 2026 13:31:03 +0530 Wed, 28 Jan 2026 13:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=68811 The Income Tax Act 2025, effective April 1, 2026, exempts income up to Rs 12 lakh and simplifies personal tax provisions. GST 2.0, effective September 22, 2025, establishes a two tier GST of mainly 5% and 18% with a 40% rate for ultra luxury and tobacco, moving most 12% items to 5% and many 28% items to 18%, producing government stated citizen savings of Rs 1 lakh crore. News - Wed, 28 Jan 2026 13:31:03 +0530 https://www.taxtmi.com/news?id=68811