The Lok Sabha on Tuesday passed the Finance Bill, 2025, incorporating 35 government amendments, marking a significant step in the Budget approval process. With this, the Finance Bill moves to the Rajya Sabha for further consideration.
Finance Minister Nirmala Sitharaman presented the amended Bill earlier in the day, seeking Parliament's approval for key fiscal proposals outlined in the Union Budget 2025-26. Among the notable amendments, the government has decided to abolish the 6% digital tax on online advertisements, a move aimed at easing compliance for businesses operating in the digital economy.
Key Amendments in Finance Bill 2025
- Removal of the 6% Equalisation Levy: The tax on online advertisements has been scrapped, a move that is expected to benefit global tech companies and Indian digital advertisers.
- Other Fiscal Adjustments: The amendments also include tweaks in tax structures, rationalization of compliance norms, and sector-specific incentives to boost economic growth.
With the Lok Sabha's approval, the Rajya Sabha will now debate the Finance Bill 2025 before it becomes law. The passage of the Bill is crucial to implementing the revenue and expenditure proposals outlined in the Union Budget 2025-26.
More updates to follow as the Rajya Sabha takes up the Finance Bill for discussion.
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