https://www.taxtmi.com/news?id=69407 Budget 2026-27 advances a growth-centred agenda combining targeted manufacturing incentives, expanded infrastructure financing and City Economic Regions, and comprehensive tax reform: a new Income Tax Act (2025) effective 1 April 2026; taxpayer ease measures including TCS/TDS rationalisation and a one-time foreign assets disclosure scheme with defined immunity; rationalisation of penalties and decriminalisation of minor defaults; conversion of MAT into a final reduced-rate tax with transitional set-off; incentives for data centres, toll manufacturing and IT services; and customs/GST simplification with trust-based customs processes and tariff rationalisation to support domestic production and exports. en-us Sun, 01 Feb 2026 13:33:52 +0530 Sun, 01 Feb 2026 13:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69407 Budget 2026-27 advances a growth-centred agenda combining targeted manufacturing incentives, expanded infrastructure financing and City Economic Regions, and comprehensive tax reform: a new Income Tax Act (2025) effective 1 April 2026; taxpayer ease measures including TCS/TDS rationalisation and a one-time foreign assets disclosure scheme with defined immunity; rationalisation of penalties and decriminalisation of minor defaults; conversion of MAT into a final reduced-rate tax with transitional set-off; incentives for data centres, toll manufacturing and IT services; and customs/GST simplification with trust-based customs processes and tariff rationalisation to support domestic production and exports. News - Sun, 01 Feb 2026 13:33:52 +0530 https://www.taxtmi.com/news?id=69407