November 4, 2025
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ICAI proposes tax reforms including decriminalisation, E-Ledger credits, TDS rationalisation, and incentives for green projects.
ICAI proposes pre-budget tax reforms to promote ease of doing business and sustainability by recommending decriminalisation of select prosecution provisions, removal of duplicate penalties, limiting return processing to arithmetical errors and prima facie incorrect claims, exclusion of guarantee fees from interest for deduction limits, introduction of a year-wise E-Ledger for TDS/TCS and advance tax credits, rationalised TDS and TAN exemptions for certain non-resident payments, removal of TCS on scrap, exclusions of F&O from presumptive income, optional joint taxation for married couples, mandatory audits for profit-linked deductions, return filing for large agricultural landowners, and statutory clarifications on surcharge, auto-renewal of small trusts, and time limits for advance rulings.