Description: The Union Budget 2026–27 introduces extensive amendments under the Income-tax Act, 2025 to rationalise taxation, reduce litigation, and simplify compliance. Key proposals include excluding buy-back proceeds from dividend and taxing them as capital gains; reducing MAT rate to 14% while restructuring MAT credit utilisation; lowering tax on unexplained income from 60% to 30% and subsuming related penalties under misreporting provisions;
Category: News
Tag: Income Tax Act 2025, TCS ,TDS