https://www.taxtmi.com/news?id=69430 The Income Tax Act, 2025 takes effect 1 April 2026 with simplified forms; ICDS requirements will be merged into IndAS and separate ICDS accounting removed from 2027-28. Buybacks will be taxed as capital gains for all shareholders with an additional buyback tax on promoters; TCS on specified goods and LRS remittances revised (2% for education/medical, 20% otherwise); STT raised on futures and options; MAT converted to a final tax at 14% with brought-forward MAT credit eligible for limited set-off in the new regime. en-us Sun, 01 Feb 2026 14:15:37 +0530 Sun, 01 Feb 2026 14:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=69430 The Income Tax Act, 2025 takes effect 1 April 2026 with simplified forms; ICDS requirements will be merged into IndAS and separate ICDS accounting removed from 2027-28. Buybacks will be taxed as capital gains for all shareholders with an additional buyback tax on promoters; TCS on specified goods and LRS remittances revised (2% for education/medical, 20% otherwise); STT raised on futures and options; MAT converted to a final tax at 14% with brought-forward MAT credit eligible for limited set-off in the new regime. News - Sun, 01 Feb 2026 14:15:37 +0530 https://www.taxtmi.com/news?id=69430