The Indian Finance Minister has presented the Union Budget for 2024-25. The proposals highlight a common theme of streamlining tax processes and reducing litigation. Key priorities include focusing on ease of doing business for start-ups and MSMEs, introducing relaxations in IFSC, amending tax laws to simplify taxation on corporate transactions and rationalizing customs duty rates across industries. In this update, we discuss the significant direct and indirect tax proposals from this year’s budget.
