Index Fund Nook
Sponsored
| Scheme Identify | 1-12 months Return | Make investments Now | Fund Class | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Make investments Now | Fairness: Giant Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Make investments Now | Fairness: Giant Cap | 0.21% |
| Axis Nifty Subsequent 50 Index Fund | +71.83% | Make investments Now | Fairness: Giant Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Make investments Now | Fairness: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Make investments Now | Fairness: Mid Cap | 0.28% |
The invoice, spanning 622 pages, is ready to take impact from April 1, 2026.
As per a duplicate accessed by CNBC-TV18, the invoice proposes 23 chapters and 16 schedules.
Till then, tax computation and reporting for FY 2024-25 and FY 2025-26 will proceed below the prevailing regulation.
Structural and terminology adjustments
The brand new invoice restructures tax regulation, lowering chapters from 51 to 23 however rising sections from 298 to 536.
The phrase rely has been reduce by half from the prevailing 5.20 lakh phrases.
It additionally introduces easier phrases like “tax 12 months” and “monetary 12 months” as a substitute of “evaluation 12 months” and “earlier 12 months.”
Compliance and interpretation enhancements
Explanations and provisos have been eliminated to simplify interpretation. The invoice minimises cross-references to different sections and guidelines, permitting taxpayers to know provisions with out consulting a number of clauses.
It additionally introduces a Taxpayer’s Constitution and strengthens digital compliance measures.
Key provisions and simplifications
The invoice retains present tax charges for people, corporates, and capital features. It contains digital digital belongings below the definition of “property,” however taxation stays at 30%.
It additionally clarifies income recognition for service contracts, mark-to-market (MTM) loss provisions, and stock valuation. Beforehand, these have been a part of the Revenue Computation and Disclosure Requirements (ICDS).
Deductions for salaries, corresponding to customary deduction, gratuity, and depart encashment, are actually consolidated in a single part as a substitute of being scattered. Revenue classes that don’t type a part of whole revenue are actually positioned in schedules for readability.
A formula-based method replaces verbose definitions, corresponding to for Written-Down Worth (WDV) of belongings.
TDS provisions are actually grouped below a single clause with tabular codecs for higher readability. The invoice additionally enhances penalties for misreporting, non-compliance, and incorrect disclosures.
The influence
Consultants imagine the invoice simplifies tax legal guidelines however lacks main coverage adjustments.
Sandeep Jhunjhunwala, M&A Tax Associate at Nangia Andersen LLP, stated, “The brand new invoice focuses on structural readability somewhat than transformational reforms. It consolidates scattered provisions, making the regulation simpler to navigate. Ideas like explanations and provisos have been eliminated to enhance interpretation.”
Amit Maheshwari, Tax Associate at AKM International, famous, “The invoice eliminates redundant references and outdated clauses. Language has been simplified, changing advanced phrases like ‘however’ with clearer alternate options. TDS, presumptive taxation, and evaluation closing dates are actually in tabular type. The Dispute Decision Panel (DRP) should now present detailed, well-reasoned orders, enhancing transparency.”
Munjal Almoula, Head of Tax at BDO India, emphasised that the invoice doesn’t introduce new tax burdens.
“The first purpose is to simplify compliance and take away redundant provisions. A streamlined tax framework ought to result in sooner refunds and improved taxpayer expertise,” he stated.
Rohinton Sidhwa, Associate at Deloitte India, known as the reform a step towards modernisation.
“The invoice guarantees a extra accessible tax system, fostering belief amongst taxpayers. Its success will rely on easy implementation,” he stated.
Gouri Puri, Associate at Shardul Amarchand Mangaldas & Co., highlighted the shift to the time period “tax 12 months” for higher alignment with world practices: “This simplifies readability by eliminating confusion brought on by phrases like ‘earlier 12 months’ and ‘evaluation 12 months.’”
