Direct Taxes Committee & Committee on International Taxation
The Institute of Chartered Accountants of India
25th September, 2025
ICAI invites Suggestions for Pre-budget Memorandum, 2026
The Income-tax Act, 2025 has received the assent of the Hon'ble President of India on 21st August, 2025 and has been published in the Official Gazette. The Income-tax Act, 2025 would come into force on 1st April, 2026.

As you may be aware, ICAI had submitted its inputs on Comprehensive Review of the Income-tax Act, 1961 in December, 2024. Also, on 21st April, 2025, ICAI had submitted its clause-by-clause suggestions vide the Memorandum of Suggestions on the Income-tax Bill, 2025 tabled in the Lok Sabha on 13th February, 2025. We are happy to inform that more than 100 suggestions of ICAI have been considered in the Income-tax Act, 2025.

In continuation, ICAI would be submitting its Pre-budget suggestions on the provisions of the new income-tax law, i.e., the Income-tax Act, 2025 for consideration in the Finance Bill, 2026. For this purpose, suggestions are invited on the Income-tax Act, 2025 under the following categories, namely, -
  • Suggestions for mitigating litigation and providing tax certainty
  • Suggestions for reducing compliance burden and removing administrative and procedural difficulties
  • Suggestions for widening the tax base and increasing the tax revenue
  • Suggestions for checking tax avoidance
  • Suggestions for rationalizing the provisions of direct tax laws

Members and other stakeholders are requested to submit their responses in the link given below, by selecting the category from the given drop-down menu. https://forms.gle/FYjPqKWhf21E5CmT7

Suggestions should indicate the relevant provision of the Income-tax Act, 2025 [specifying the section, sub-section/clause, if any], specific issue(s), and clear suggestion with coherent rationale for the change.
All suggestions may be submitted latest by 12th October, 2025

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