Overview
- Advisers, including EY, call for predictable policy, simpler compliance and targeted dispute resolution rather than fresh rate reductions.
- Transition guidance for the new tax law is a leading demand, with requests for detailed rules and FAQs to avoid interpretational conflicts.
- Key operational proposals include consolidating numerous TDS categories into a few standard rates and scrapping TDS on GST-tracked B2B transactions.
- For FY 2025–26, the new tax regime is the default for filings, and any belated return after the due date can only be filed under that regime.
- Following last year’s relief that effectively exempted many salaried incomes up to about Rs 12–12.75 lakh, expectations now center on modest tweaks such as inflation-linked thresholds.