https://www.taxtmi.com/article/detailed?id=15842 The Budget proposes a new Income Tax Act, 2025 to replace the 1961 Act, procedural relaxations including extended filing timelines and return updates after reassessment at an additional 10% tax, rationalisation of TDS/TCS regimes including PAN-based challans for non-resident property sales, enhanced STT on futures and options, MAT finality with exemptions for some non-residents, expanded safe-harbor for IT services, and a one-time amnesty with immunity for disclosure of specified foreign assets. en-us Mon, 09 Feb 2026 09:20:20 +0530 Mon, 09 Feb 2026 09:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15842 The Budget proposes a new Income Tax Act, 2025 to replace the 1961 Act, procedural relaxations including extended filing timelines and return updates after reassessment at an additional 10% tax, rationalisation of TDS/TCS regimes including PAN-based challans for non-resident property sales, enhanced STT on futures and options, MAT finality with exemptions for some non-residents, expanded safe-harbor for IT services, and a one-time amnesty with immunity for disclosure of specified foreign assets. Articles Goods and Services Tax - GST Mon, 09 Feb 2026 09:20:20 +0530 https://www.taxtmi.com/article/detailed?id=15842