*🚨 BIG BREAKING! No Income Tax on Annual Income up to ₹12 Lakh – Announced by FM Nirmala Sitharaman 🚀* *Budget 2025 Wishlist* – Investor Expectations & Reform Proposal *Key Expectations:* 1️⃣ *Higher Income Tax Exemption Limit* – Raising the exemption threshold to ₹10-15 lakh will boost disposable income, fuel consumption, and drive economic growth. 2️⃣ *Reduction in Long-Term Capital Gains (LTCG) Tax on Equity* – Lowering LTCG tax to 0-5% will encourage investments, strengthen market participation, and support wealth creation. *Transformative Proposal:* GST Input Credit for Non-GST Registered Individuals *Concept:* To enhance tax transparency and compliance, the government should introduce a 10% GST input credit for individuals (not registered under GST) against their income tax liability. This will allow taxpayers to claim a portion of the GST they pay on essential expenses such as food, insurance, and telecom bills. How It Works: • If an individual pays ₹1 lakh in GST annually, they receive ₹10,000 as an income tax credit (non-refundable, similar to TDS). *Why This Is a Game-Changer:* ✅ *Ensures GST Compliance* – Encourages individuals to demand invoices, ensuring businesses properly remit GST. ✅ *Incentivizes Digital Transactions* – Linking GST credits to PAN/UPI payments strengthens tax discipline. ✅ *Boosts Direct Tax Collection* – Expands the taxpayer base by linking GST payments to income tax benefits. *Implementation Strategy:* 🔹 *PAN/Mobile-Based GST Reporting* – Businesses collect and report customer PAN/mobile numbers while filing GST returns (automation via QR codes). 🔹 *UPI Integration* – GST invoices linked to UPI transactions ensure seamless tracking. 🔹 *Phased Rollout:* • Initial threshold of ₹1,000 per bill, later reduced to ₹500 to widen participation. • Pilot in select industries (hospitality, retail) before nationwide expansion. 🔹 *Technology-Driven Execution* – Automation ensures efficiency, minimizes compliance burden, and prevents fraud. This reform has the potential to revolutionize GST compliance, enhance tax accountability, and significantly increase government revenue—a landmark step in India's tax evolution. 🚀 *📩 Connect with Us Today!* 📞 *GAK Group* +91 9089080505 | +91 7788077770 🔗 *Chat Now :* https://wa.me/919089080505 *Join Our Channel:* https://whatsapp.com/channel/0029VaeE78bEquiSrB1DII1X