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Tax

In 2025, the government enhanced the Section 87A rebate to Rs 60,000 for incomes up to Rs 12 lakh and raised the basic exemption limit under the new tax regime to Rs lakh.
Updated : Jan 16, 2026

Budget 2026: How FM Sitharaman’s 2025 tax slab overhaul helped taxpayers save up to Rs 1.10 lakh

Finance Minister Nirmala Sitharaman’s 2025 revamp of the new tax regime has reshaped personal taxation, delivering savings of up to Rs 1.10 lakh for many earners. Wider slabs, higher rebates and a bigger tax-free threshold have made the simplified regime far more rewarding for taxpayers.

ICAI has proposed allowing married couples to file a single ITR with their combined income taxed jointly.
Updated : Jan 16, 2026

Budget 2026: Joint tax filing for married couples gains traction to ease family tax burden

Under the ICAI’s proposal, married couples choosing joint filing would be assessed on their combined income, with the basic exemption limit effectively doubled to Rs 8 lakh. Tax slabs would be widened to suit household income levels.

Budget 2025 closed that gap by stating that ULIPs, which do not qualify for exemption under Section 10(10D) will be treated as capital assets and taxed under capital gains provisions.
Updated : Jan 15, 2026

Budget 2026: How FM Sitharaman reshaped ULIP taxation in 2025 and what high-premium investors must know

Under the new framework, gains from such ULIPs will be taxed based on the holding period. If the policy is held for more than one year, profits will attract long-term capital gains tax at 12.5 per cent. If surrendered or matured within a year, the gains will be taxed at the investor’s applicable income-tax slab rate.

Currently, CGAS accounts can be opened only with designated banks, and taxpayers must manually track deposits and withdrawals.
Updated : Jan 15, 2026

Union Budget 2026: CGAS process faces scrutiny over manual processes and tax filing hurdles

CGAS was introduced in 1988 to help taxpayers claim exemptions on long-term capital gains when immediate reinvestment is not possible, the scheme has undergone amendments in 2012 and most recently in November 2025. While the latest changes mark a step forward, practitioners say the system remains burdened by structural and technological gaps.

Experts said employer-routed NPS has emerged as the most effective tax optimisation tool available today.
Updated : Jan 14, 2026

Tax planning 2026: How salaried staff can pay zero tax on income more than Rs 14 lakh under New Tax Regime

Tax slabs: Ahead of Budget 2026, attention is firmly on the income tax framework, especially the slabs introduced last year under the new tax regime. Under the system, salaried employees can now reduce their tax liability to zero on incomes of up to Rs 14.65 lakh by strategically structuring their pay around employer-backed retirement benefits, such as EPF and NPS.

Binny Bansal had argued that his stay in Singapore for employment qualified him as a non-resident who merely visited India, making him ineligible for capital gains tax here.
Updated : Jan 14, 2026

NRI tax dispute: How Section 6 residency rules cost Binny Bansal his tax appeal

Tax advisory platform Tax Buddy said the crux of Binny Bansal’s case lay in how India’s residency rules are interpreted under Section 6 of the Income Tax Act. The dispute centred on whether the law’s extended 182-day threshold applies merely to individuals working abroad, or only to those who were already classified as non-residents — a distinction that ultimately proved decisive in the tribunal’s ruling.

Proposals include widening intermediate tax slabs to smooth progression, such as introducing 5 per cent for Rs 4–8 lakh, 10 per cent for Rs 8–12 lakh and 15 per cent for Rs 12–16 lakh.
Updated : Jan 14, 2026

Budget 2026 wish list: Experts call for higher 30% tax slab, inflation-linked slabs, simpler savings 

As the Union Budget 2026 approaches, expectations are rising for meaningful reforms in personal taxation, savings incentives and digital infrastructure. Experts say inflation-linked tax slabs and simpler deductions could play a key role in protecting household incomes and sustaining demand.

Many companies allow HRA claims based on declarations during the year, but the Income Tax Department can still ask for proof later. This makes record-keeping essential.
Updated : Jan 13, 2026

Tax planning 2026: Claiming HRA without rent agreement? Here’s what proofs you need to stay tax compliant

Tax expert CA Ruchita Vaghani said contrary to popular belief, the Income Tax Act does not require a formal rent agreement for claiming HRA. What it does require is evidence of payment. This can include rent receipts, bank statements, UPI transfers, cheques or NEFT records.

The Budget 2025 offered little relief to crypto investors, retaining the 30% tax on gains and the 1% tax deducted at source (TDS) on transactions introduced in 2022.
Updated : Jan 13, 2026

Union Budget 2026: Crypto industry pushes for tax reset, clear regulatory roadmap for growth

Despite India consistently ranking among the world’s top markets for crypto adoption, stakeholders argue that the absence of clear rules continues to limit the sector’s full potential, pushing innovation and liquidity offshore.

While major slab changes look unlikely after Budget 2025’s threshold hikes, experts still see scope for targeted relief.
Updated : Jan 13, 2026

Budget 2026: Will tax tweaks in FM Sitharaman's 9th Budget ease pressure on salaried middle class?

As India prepares for the Union Budget 2026, expectations are mounting around possible income tax relief for the middle class. With Finance Minister Nirmala Sitharaman set to present her ninth consecutive Budget, taxpayers are watching closely for signs of slab rationalisation and higher deductions. From the new tax regime to standard deduction hikes, Budget 2026 could shape household finances in a year of rising incomes and costs.

As per official data, of the 7.28 crore ITRs filed for AY 2024-25 till July 31, 2024, 5.27 crore or 72% had moved to the new tax regime.
Updated : Jan 13, 2026

Union Budget 2026: Will it provide clarity on future of old tax regime?

Budget expectations: The majority of taxpayers are in the new income tax regime, but the old regime is helpful for those with home loans, long-term investments

Income tax refunds are typically delayed when returns are not fully processed or when the tax department detects mismatches or non-compliance in the filing. 
Updated : Jan 12, 2026

Why your income tax refund isn’t credited even after 5 months. What you can do about it

The first thing to remember is there is no need to panic if your refund is delayed. Start by logging into the income tax e-filing portal and checking the “Pending Actions” section for any notices or communications from the department. 

The new law is designed to be leaner, clearer, and more reader-friendly, reducing litigation and helping taxpayers accurately understand their liabilities. 
Updated : Jan 11, 2026

New Income Tax law from April 1: No rate change, less litigation, easier compliance

The rules to implement the new law are currently being drafted and are expected to be notified after the presentation of the FY27 Budget. Various forms, including those for advance tax and TDS payments, will be released thereafter.  

The debate carries added significance because India remains among the few major markets that tax foreign investors on equity gains -- a policy some believe puts domestic markets at a relative disadvantage.
Updated : Jan 8, 2026

Budget 2026: Govt should ease LTCG rules to boost long-term investing in markets, says SBI Securities’ Sunny Agarwal

Volatile markets and shrinking returns are fuelling fresh demands for a review of long-term capital gains (LTCG) tax. Market participants believe a calibrated tax reset could strengthen India’s position in the global investment race and encourage investors to stay invested for longer.

EY India has said Budget 2026 should shift from frequent tax tweaks to predictable, long-term policy frameworks.
Updated : Jan 8, 2026

Budget 2026: EY India pushes for direct tax reforms, TDS overhaul and investment

As Budget 2026 approaches, industry voices are urging the government to focus on smoother implementation of the New Income Tax Act, 2025, backed by clear guidelines to reduce disputes and litigation. Key expectations also include a long-awaited overhaul of the TDS regime and targeted incentives such as accelerated depreciation to revive manufacturing investment.

One proposal gaining traction is joint income-tax filing for married couples, which could reshape exemption limits, deductions and the way family income is taxed in India.
Updated : Jan 8, 2026

Budget 2026: Will Income tax overhaul continue? What salaried Indians can expect from FM Sitharaman

As Budget 2026 nears, the focus is shifting from tax rate cuts to deeper reforms in India’s income-tax system. After the 2025 changes that made income up to Rs 12 lakh largely tax-free, attention is now turning to ideas like joint tax filing for married couples, which could reshape exemption limits and deductions.

HUFs follow the same tax slabs as individuals under both old and new regimes, though rebates are not available.
Updated : Jan 7, 2026

This tax move can double your tax-free income — and it’s fully legal; expert on smart tax moves

The Hindu Undivided Family (HUF) structure remains one of the most underrated tools for tax planning, despite being fully recognised under the Income Tax Act. CA Nitin Kaushik points out that most families operate with just one tax identity — the individual PAN. But the law allows a second, completely legal tax entity within the same household: the HUF.

The report shows that ITR-3 filings jumped 45% year-on-year in 2025, driven by a surge in self-employed professionals, small business owners, traders and F&O participants.
Updated : Jan 7, 2026

ITR filing 2025: Traders, investors, freelancers drive tax filing surge beyond salaried for AY2025-26

According to the ClearTax annual report, traditionally, the bulk of salaried taxpayers filed simpler forms such as ITR-1, reflecting dependence on fixed monthly income. That profile is now being reshaped by a sharp rise in complex filings that capture business income, trading activity and capital gains.

Long-term capital gains (LTCG) are calculated by subtracting transfer expenses, the cost of acquisition and the cost of improvement from the sale value of an asset.
Updated : Jan 6, 2026

Selling assets? From houses to start-ups: How reinvestment unlocks capital gains tax relief

With Budget 2026 around the corner, investors are once again focusing on how capital gains tax rules could shape their returns. From homes and land to bonds and start-ups, reinvestment remains the most effective way to unlock tax relief -- if the conditions are met.

Tax litigation remains a major challenge for India’s tax system, with the current backlog likely to take five to six years to clear—straining both the exchequer and taxpayers.
Updated : Jan 6, 2026

Budget 2026: Simpler TDS, faster dispute resolution top middle class, businesses wishlists this year

As Union Budget 2026 approaches, experts feel expectations are now shifting from headline tax cuts to meaningful reforms that would make the tax system easier to deal with. For many taxpayers, especially the middle class, simpler compliance and fewer disputes now matter as much as lower tax rates.

The tax department is allowed up to nine months from the end of the financial year to process returns, which means filings for this assessment year can legally be taken up till December 2026.
Updated : Jan 6, 2026

Tax refunds delayed: Data checks, nudges slow ITR processing for AY 2025-26; what taxpayers can do

According to the Income Tax Department’s latest figures, about 8.80 crore returns have been filed for the Assessment Year 2025–26. While most have moved through verification, nearly 63 lakh returns remain under processing — keeping many refund claims in limbo.

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