Senate Narrowly Advances Trump’s “Big Beautiful” Tax-Spending Bill

By BPN News Desk June 29, 2025

International

President Donald Trump’s sweeping tax and spending legislation has crossed a critical procedural hurdle in the U.S. Senate, passing by a narrow 51–49 vote. Branded the “One Big Beautiful Bill Act” by the president, the 940-page proposal now heads into a tense final stretch as the GOP scrambles

Economy National

GST Council Eyes Elimination of 12% Slab for Simpler Tax Regime

By BPN News Desk June 26, 2025

The GST Council is preparing for a significant overhaul of India’s tax structure by proposing the removal of the 12% tax slab in its upcoming 56th meeting, expected in late June or early July. The move is part of a larger effort to rationalise the GST framework, reduce classification disputes, and simplify compliance for businesses […]

Finance

India Poised to Reduce GST Rates and Simplify Tax Structure: Finance Minister Nirmala Sitharaman

By BPN News Desk March 9, 2025

Finance Minister Nirmala Sitharaman announces imminent reductions in GST rates and rationalization of tax slabs, with the review process in its final stages, aiming to simplify the tax structure and promote economic growth.

Economy National

New Income Tax Bill 2025 Introduced in Parliament

By BPN News Desk February 13, 2025

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in Parliament, marking a significant step towards tax reforms in India. The proposed legislation aims to replace the Income Tax Act of 1961 with a more structured and modern framework, enhancing compliance and transparency. Key Features of the Income Tax Bill 2025 The new bill […]

Finance

India Moves Towards Trust-Based Tax Assessment System

By BPN News Desk January 10, 2025

India is making significant strides in transforming its tax system by introducing a trust-based tax assessment model. The approach aims to reduce scrutiny, simplify the tax filing process, and foster trust between taxpayers and authorities. This shift aligns with the government’s broader objective of creating a taxpayer-friendly environment while ensuring compliance and