Budget 2026: Assessment Procedures and Penalty – Bringing About Confidence and Certainty
07 Feb 2026
admin
The Union Budget 2026 marks a decisive step towards restructuring India’s tax administration framework by addressing long-standing concerns related to assessments, penalties, appeals, and immunity provisions. Over the years, the income-tax system has been criticised for excessive litigation, procedural rigidity, and a punitive approach even for minor or technical defaults. Recognising these issues, the Budget 2026 introduces targeted amendments aimed at simplifying procedures, reducing disputes, and encouraging voluntary compliance, while still safeguarding revenue interests.