Uttar Pradesh Chief Minister Yogi Adityanath on Monday lauded the Union Budget 2026-27, asserting that the budget fulfils the aspirations of Uttar Pradesh with its special focus on Micro Small, and Medium Enterprises (MSME) sector.
"I feel the big ticket direct tax reform has already happened, which is in the form of the new Income Tax Act that we have now," Hemkar told ANI in an exclusive interview.
Calendar year 2025 marked a defining phase in India's economic and legal landscape, with the government rolling out a series of structural reforms, tax rationalisation measures, regulatory simplification initiatives and monetary support steps, creating a more enabling environment for medium-
The new Income Tax Act is expected to expand India's tax base by making compliance simpler and more accessible for individuals, institutions and exempt entities, Debjyoti Das, Principal Chief Commissioner of Income Tax (Exemption) told ANI today.
The new Income Tax Act has been formulated using simple language to eliminate complicated legal challenges and make tax provisions more accessible to common taxpayers, according to RN Parbat, Member (Legislation) at the Central Board of Direct Taxes (CBDT).