Grant Thornton Bharat hosted a webinar on the Income Tax Act, 2025.

While the new framework positioned as a simplification of the erstwhile law, the discussion highlighted that the real shift lies in how taxpayers navigate implementation of the new framework, reporting requirements, and system alignment.

Key takeaways

  • Structural overhaul with simplification of language and layout.
  • Introduction of a single ‘Tax Year’ - a conceptual shift.
  • Enhanced disclosures and documentation requirement.
  • Technology and documentation readiness is key.
  • Compensation structures need re-evaluation.
  • Changes needed in SOPs and ERP systems.

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Speakers

  • Partner and Global Peoples Solution Leader

    Akhil Chandna

    Grant Thornton Bharat

  • Partner, Tax

    Riaz Thingna

    Grant Thornton Bharat

  • Partner, Tax

    Richa Sawhney

    Grant Thornton Bharat

  • Chartered Accountant, Partner

    Amit Kedia

    Walker Chandiok & Co LLP

  • Partner and Asia Pacific Transfer Pricing Leader

    Fatema Hunaid

    Grant Thornton Bharat