The new income tax law will be easier to understand, free of outdated provisions, and aims to encourage taxpayers to switch to the new regime with significant concessions. Additionally, a new crypto asset reporting provision has been introduced to align with India’s international commitments.
India raises $73 bn in forex inflows at record pace
India has mobilised $73 billion in foreign exchange inflows in less than 11 weeks, surpassing the scale and pace of the RBI’s 2013 FCNR(B) swap