💨 Abstract

The Indian Ministry of Finance has reported progress on last year's budget announcements, focusing on simplifying taxation, reducing litigation, and improving tax certainty. Key achievements include the introduction of the Vivad Se Vishwas Scheme for resolving income tax disputes, the expansion of safe harbour rules, and the simplification of capital gains taxation. The government also aims to complete a comprehensive review of the Income Tax Act, 1961 within six months.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖