PTI New Delhi

The Budget is expected to focus on boosting private capex, tax simplification and reduction in personal income tax, particularly for the lower-income groups, to stimulate demand, EY India said. The Union Budget for 2025-26 is scheduled to be presented in Parliament on February 1.

EY India, in its Budget expectation note, said with over Rs 31 lakh crore stuck in income tax disputes as of 2023-24, there is an urgent need to clear Commissioner of Income Tax (Appeals) backlog and bolster alternate dispute resolution mechanisms like advance pricing agreements and safe harbours.

"While a full comprehensive review of the direct tax code may take time, we might see some initial steps towards its implementation in this Budget,," said Sameer Gupta, National Tax Leader, EY India.