The Hon’ble Finance Minister presented the Union Budget 2025 on 01 February 2025 in the Lok Sabha. We bring you the key amendments proposed in Finance Bill 2025 with respect to Technology Sector .
On 1 February 2025, the Hon’ble Finance Minister presented the Union Budget 2025 in the Lok Sabha. We bring to you a detailed analysis on the tax and policy amendments announced by the Hon’ble Finance Minister in respect of Technology Sector.
India's journey into the digital era is marked by remarkable expansion and creativity. As a leading center for technology services and a rising force in electronics hardware production, India consistently holds a key position on the global stage.
The Union Budget 2025 unveils key initiatives for the tech sector, such as enhanced India AI mission funding, an AI Centre of Excellence for Education, and a Deep Tech Fund to fuel innovation. It proposes a national framework for Global Capability Centres in tier 2 cities, tapping into India's vast talent reservoir. Some of the key tax reforms are as under:
- New income tax bill proposed to be introduced in the coming week
- Rationalization of TDS/ TCS and Transfer Pricing provisions
- Presumptive taxation for non-resident ESDM service providers
- Calibration of duties to bolster local production of electronics
This Union Budget and the upcoming Income Tax Bill is a strategic catalyst, set to elevate India’s Technology sector into a new era of global leadership and innovation-driven growth.