The Institute of Chartered Accountants of India (ICAI) has unveiled a series of tax reform suggestions for the Union Budget 2026-27, focusing on easing the compliance burden and enhancing business operations. These proposals aim to simplify tax laws, reduce litigation, and promote environmental sustainability.

Among the key recommendations, ICAI has advocated for excluding F&O trading and speculation from presumptive income, introducing joint taxation for married couples, and establishing an E-Ledger system for efficient tax credit adjustments. Additionally, they call for easing requirements like TAN for non-resident transactions and scrapping TCS on scrap sales.

ICAI also emphasizes tax neutrality in LLP reorganizations, fair taxation on partner remuneration, and incentives for eco-frie

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