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Union Budget Income-tax compliance updates focus on simplification, automation, and reduced litigation for individuals, businesses, and NRIs. The latest Budget introduces meaningful procedural reforms in return filing, TDS/TCS rationalization, and digital compliance processes, aimed at easing the compliance burden while improving transparency and efficiency. KEY INCOME-TAX COMPLIANCE CHANGES 1. Extended Timeline for Revised Return FilingEarlier Provision: Revised return allowed up to 31 December of the Assessment Year.New Provision: Time limit extended up to 31 March (subject to nominal fee).Impact: Additional time to correct errors, reduce penalties, and avoid unnecessary notices. 2. Automation of Lower / Nil TDS Certificates (Section 197)Earlier: Manual and discretionary approval process.Budget Proposal: Rule-based automated approval mechanism.Impact: Faster processing, improved cash flow for small taxpayers and businesses. 3. Centralised Submission of Form 15G / 15HEarlier: Separate submission to each company.Now: Depositories empowered to accept Form 15G/15H centrally.Impact: Reduced repetitive compliance for senior citizens and investors. 4. TDS and TCS RationalisationManpower supply – TDS clarified at 1% / 2%.Overseas tour packages – TCS reduced to 2%.Education & medical remittances under LRS – TCS reduced to 2%.Interest on motor accident compensation – Fully exempt, no TDS.Impact: Cash-flow relief and reduced litigation. 5. Non-Resident & Cross-Border ComplianceExpanded Portfolio Investment Scheme eligibility for persons resident outside India.Greater automation in withholding tax processes.Impact: Improved ease of compliance and investment access. Conclusion:The Income-tax proposals emphasise simplified compliance, automation, and reduced friction for genuine taxpayers, supporting ease of doing business and voluntary compliance. Disclaimer:This document is for general information only and does not constitute professional advice. Applicability is subject to enactment of the Finance Act and relevant notifications.Official reference: https://www.indiabudget.gov.in/ Internal Linking (mhkgroup.in)