Income Tax Act 1961: Key Changes in Tax Rates, Deductions, and Compliance Post-2016 Amendments to Boost Transparency and Investment.

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....The 2016 amendments to the Income Tax Act of 1961 introduced significant changes aimed at enhancing transparency and encouraging investment. Key adjustments included revised tax rates, updated deductions, and new compliance measures. These changes were designed to streamline tax processes and provide clearer guidelines for taxpayers, ultimately fostering a more investment-friendly environment.....