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Pankaj Dhingra CA & US CPA, Managing Partner, FinTram Global LLP presented his views over the recent Budget 2025, he reviewed the recent budget saying "Budget 2025 presents an opportunity to make tax filing more accessible and transparent for everyone".
He added, "Leveraging AI-based income tax systems can not only streamline processes but also help identify fraudulent practices efficiently, ensuring fairness and accountability. Further, revising outdated tax slabs and increasing the 80C deduction – that has remained unchanged for years - will provide a much-needed relief to taxpayers."
Next, to boost entrepreneurship, introducing tax holidays and other benefits for startups and young entrepreneurs can provide the necessary impetus for innovation and job creation for common man.
Additionally he said that "Reducing GST on education to 5% will make learning and skilling more affordable, empowering students to invest in their future". If implemented thoughtfully, these measures can create a simplified, inclusive, and growth-oriented tax framework for all."