- Tax Relief for individuals: In light of the buoyant tax collections during the current year, relief for individuals through realignment of income slabs and tax rates under both the normal and concessional tax regimes
- Alignment of rates between foreign and domestic companies: Reduction in tax rates for foreign companies (including foreign banks) to harmonise them with the reduced rates applicable to domestic companies
- Rationalisation of TDS provisions: Considering the gradual increase in the scope of domestic TDS provisions and the wide range of TDS rates, a rationalization of domestic TDS provisions involving a reduction in TDS rates and alignment of rates across different payment categories
- Clarifications on the scope of TDS on benefits and perquisites: Clarifications on the scope of TDS under section 194R on benefits and perquisites to eliminate uncertainty and potential litigation
- Pillar 2 Implementation: Roadmap for the implementation of Global Minimum Tax Rules in India, including facilitation of a public consultation process
- Significant Economic Presence (SEP): Increase in SEP thresholds and relief from return filing requirements in cases where treaty relief is available in respect of SEP income
- Work from Home and SEZ units: Clarifications on the continued availability of section 10AA benefits in respect of work undertaken by employees working from home in accordance with the modified SEZ Rules
- Equalisation Levy: Clarifications on the scope of equalisation levy, including a specific exclusion for intra-group transactions undertaken over non-public digital platforms
- Goods and Services Tax (GST) Appellate Tribunal: GST Appellate Tribunals to be set up at the earliest for faster resolution of pending litigation
- Centralised Advance Ruling Authority (AAR): Centralised AAR needed in light of contradictory rulings and to achieve the objective of ‘One Nation, One Tax, One Market’
- Pan-India applicability of advance rulings(Customs Act, 1962): Advance rulings under customs to be made applicable on a Pan-India basis, to avoid different approaches being adopted by different Commissionerates
- Acceptance of surety bonds instead of bank guarantee: Customs department should accept surety bonds instead of bank guarantees so as to facilitate trade and ease working capital.