<h1>Direct tax restructuring and TDS rationalisation announced, with simplified rates and compliance relief measures for taxpayers.</h1> The Budget 2025-26 implements a restructured direct tax regime with revised progressive rates and measures to reduce litigation via clearer legislation, expanded safe harbour and block-period arm's length pricing schemes. It rationalises TDS/TCS thresholds, raises certain deduction limits, and decriminalises specified delayed TCS cases. Indirect tax reforms include simplification of customs tariff rates, single-cess policy per tariff line, targeted BCD exemptions/concessions for lifesaving drugs, critical minerals, electronics and EV supply chains, and trade facilitation measures such as fixed provisional assessment timelines and voluntary post-clearance duty declarations without penalty.