Budget 2025 for Business
What's the wishlist for Business from the upcoming full Budget for 2025-2026. The Budget will be tabled on February 1 and is likely to focus on boosting consumption and capex. On Financial Express Read More.., we offer you a detailed list of expectation and announcements for Business on its dedicated page Who Got What. Navigate through all the declarations at a glance from the current and past Union Budgets on this page.
Budget 2024-26 Announcements for Business
Business
- Corporate Tax on Foreign Companies cut to 35% from 40%
- New Mechanism for facilitating continuation of bank credits to MSME
- corporate Tax on Foreign Companies cut to 35% from 40%
- Incentivise implementation of business reform action plan and digitalisation
- Business Gains to be included under Profits & gains of life insurance business
- CNon reporting of movable asset upto Rs 20 lac not to be penalised
Who Got What
Profile
sectors
Budget Announcements for Business in FY2024
Business
- Time period on IT benefits to companies registered as startups increased further by another year.
- An entity DigiLocker will be set up for securely storing and sharing documents online.
- Over 39,000 compliances reduced, 3,400 legal provisions decriminalized for Ease of Doing Business.
- In cases of failure by MSMEs to execute contract during COVID period, 95% of forfeited amount relating to bid or performance security to be returned by government.
Budget Announcements for Business in FY2023
Business
- Income tax rates for both individuals and corporations remain unchanged.
Budget Announcements for Business in FY2022
Business
- Decriminalization proposed for the Limited Liability Partnership (LLP) Act, 2008.
- Simplification of compliance for Small companies by revising thresholds under the Companies Act, 2013.
- Incentives for One Person Companies (OPCs) include unrestricted growth sans capital/turnover limits, conversion flexibility, reduced residency requirements for Indian citizens, and permission for NRIs to establish OPCs in India.
- Measures for faster case resolution: – Strengthening the NCLT framework. – Introducing e-Courts system. – Implementing alternate debt resolution methods and a special framework for MSMEs.
- Launch of MCA21 Version 3.0 in 2021-22 with data analytics, artificial intelligence, and machine learning for faster processes.
Budget Announcements for Business in FY2021
Business
- Allocation of Rs. 27,300 crore for the development and promotion of Industry and Commerce in 2020 – 21
- Start – ups with turnover up to Rs. 100 crore granted 100% deduction for 3 consecutive assessment years within a span of 10 years.
- Deferred tax payment on Employee Stock Ownership Plans (ESOPs).
- Proposal to defer tax payment on ESOPs granted by start – ups to employees for up to five years or until the employee leaves the company or sells the shares, whichever is earlier, to encourage hiring talented employees at lower salaries.
Budget Announcements for Business in FY2020
Business
- Over 90% of GST – paying businesses permitted to file quarterly returns, simplifying overall compliance.
- Special benefits and incentives granted to small businesses and startups.
- Presumptive taxation threshold for businesses raised from Rs. 1 crore to Rs. 2 crore.
- Small professionals now eligible for presumptive taxation with a threshold set at Rs. 50 lakh.
- Reduced presumptive profit rate from 8% to 6% to encourage a less cash – based economy.
- Tax rate lowered to 25% for approximately 99% of companies.
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