Economics · Economy
The newly enforced direct tax framework, effective from 1 April 2026, has been described as a structural modernization exercise because it replaces an older law while retaining broad policy continuity. Which statement best captures the key feature of this transition?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The reform shifts India from direct taxation to a predominantly indirect tax system
- 2The new law abolishes the need for subordinate rules and tax forms
- 3The new law completely changes the underlying tax policy architecture
- 4The new framework simplifies language and structure while broadly retaining the earlier policy approach✓
Correct answer
The new framework simplifies language and structure while broadly retaining the earlier policy approach
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