Indian tax authorities increasingly apply substance-over-form principles to offshore transactions, especially in source taxation and withholding obligations.
Customs exemptions, MSME financing tools, and infrastructure reforms operate within statutory frameworks like the Customs Act, FEMA, and MSMED Act, ensuring fiscal policies are legally enforceable.
The Budget focuses on simplification, predictability, and targeted incentives, introducing the Income Tax Act, 2025 and major compliance reforms.
