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Corporate Law Firm in Ahmedabad, India > Blog > legal professionals

The Legal Blueprint: Budget 2026 for the Legal Profession

2026-02-01

Statutory & Litigation Reforms New Income Tax Act, 2025: Replaces the 1961 Act effective April 1, 2026, with simplified language and forms. Unified Assessment & Penalty Orders: Integrates assessment and penalty proceedings into a common order to reduce multiplicity. Decriminalization of Procedural Omissions: Non-production of books and certain TDS payment delays are now decriminalized. MACT…

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