Union Budget 2025: To simplify the rules related to income tax, the government can introduce changes in the Income Tax Act during the budget. According to exclusive information received by CNBC-Awaaz, a draft of these changes has been prepared. Giving complete information, CNBC-Awaaz’s Economic Policy Editor Laxman Roy said that there can be major changes in the Income Tax Act, 1961. The Finance Minister can introduce amendments during the budget. A meeting on the draft of changes may be held in the Prime Minister’s Office this week. The rules will be made easier for taxpayers. The provisions of Income Tax Act, 1961 will be reduced. The process of resolving tax related disputes will be simplified. The process of tax demand notice will be made transparent. Let us tell you that in July the Finance Minister had promised a review in 6 months.
Changes in budget making team
Laxman Roy also told that before the budget, a major change has been made in the budget making team. DIPAM Secretary Tuhin Kant Pandey has been made Revenue Secretary. Arunish Chawla has been made Secretary of the Disinvestment Department. Chawla was appointed Revenue Secretary 12 days ago. This is the first budget of Tuhin Kant Pandey as Revenue Secretary. Ajay Seth has the main responsibility of making the budget. Ajay Seth is the Economic Affairs Secretary. This is also the first budget of Expenditure Secretary Manoj Govil.
The budget will be made under the leadership of Finance Secretary Tuhin Kant Pandey. The main responsibility of making the budget rests with Department of Economic Affairs Secretary Ajay Seth.