Recent Trends in the Tax Regime
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Our speaker, Paras Nath, Partner, TRC has shared insights on the recent trends in the India tax regime. He explains that balancing income-tax rates with choosing the old and new regime has motivated for adhering compliances. The increased advance tax collections in FY 2021-22 clearly show the same benefit.
He also believes that efforts towards linking the transactions under the same PAN at one place in AIS (Annual Information Statement) and proposed prefilled ITRs will undoubtedly be a game-changer in 2022.