As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency.
1. Higher Income Tax Exemption Limit
Good news for salaried individuals! Under the new tax regime, no income tax is payable if your annual income is up to ₹12 lakh. A