> *Is India Becoming Tax-Free? Exploring New Tax Benefits in 2025!* India is not becoming entirely tax-free; however, recent reforms have introduced significant tax benefits that make the environment more favorable for individuals and businesses. Here are three key tax advantages to be aware of: *1. Establishing in GIFT City* The Gujarat International Finance Tec-City (GIFT City) offers a host of tax incentives for financial services. Businesses operating within this special economic zone can benefit from a 100% tax exemption for 10 consecutive years out of 15 years, along with a reduced Minimum Alternate Tax (MAT) rate of 9%. This initiative aims to create a competitive financial hub, similar to international free zones. *2. Increased Income Tax Exemption Limit* The Union Budget 2025 has proposed a new simplified direct tax code, aiming to increase tax certainty and reduce litigation. While specific details on income tax exemption limits are yet to be fully disclosed, the government's focus is on making the tax system more transparent and taxpayer-friendly. *3. Benefits for Small Business Owners* Small businesses with receipts up to ₹2 crore can take advantage of the Presumptive Taxation Scheme. Under this scheme, profits are presumed to be 6% of the turnover, leading to a taxable income of ₹12 lakh. With the new tax provisions, this ₹12 lakh income could potentially be tax-free, significantly reducing the tax burden for small entrepreneurs. While India isn't entirely tax-free, these reforms reflect a shift towards a more tax-friendly regime. Strategic tax planning can help individuals and businesses minimize their tax liabilities and maximize profitability. Let's discuss these developments further in the comments below. #indiataxreforms #giftcity #unionbudget2025 #taxplanning #smallbusinessbenefits #anubhav_the_growing_experience #pathfinder_careerguide #rosemaryinstitute #rosemaryfoundation #staunchinfrastructure #staunchinfotech #staunchconsultancy #superstructural