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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.

Taxpayers who failed to file an ITR before December 31 have even fewer options.
Updated : Jan 5, 2026

December 31 ITR deadline over: Here’s the limited path to getting your tax refund

Under India’s income tax rules, December 31 is the last date to file a revised return or a belated return for a given assessment year. Once this window closes, taxpayers can no longer correct errors, add deductions, or update income details through a standard revised filing. 

With Budget 2026, Finance Minister Nirmala Sitharaman is set to create history by becoming the first finance minister to present nine consecutive Union Budgets.
Updated : Jan 3, 2026

Budget 2026: How FM Nirmala Sitharaman transformed India’s income tax regime from 2019 to 2025

Between 2019 and 2025, FM Nirmala Sitharaman quietly rewired India’s income tax system through a series of calibrated reforms rather than one sweeping overhaul. Across six Union Budgets, the government moved away from a deductions-heavy, compliance-intensive old tax framework toward lower rates, simpler slabs and minimal human interface.

At present, long-term capital gains on listed shares and equity-oriented mutual funds are taxed at 12.5 per cent on gains exceeding Rs 1.25 lakh in a financial year.
Updated : Jan 3, 2026

Union Budget 2026: Don’t expect LTCG rate cut; exemption hike more likely, says investment manager

With Budget 2026 approaching, expectations are growing around possible changes to long-term capital gains taxation on equities and mutual funds. However, market experts say the government is more likely to raise the exemption limit than cut the LTCG tax rate.

the scheme is available for resident individuals and Hindu Undivided Families (HUFs), with plans to extend access to non-individuals and non-resident Indians (NRIs) shortly.
Updated : Jan 3, 2026

ICICI Bank rolls out CGAS for parking unutilised capital gains, saving tax for individuals, HUFs

Starting January 1, 2026, the scheme allows customers to deposit uninvested capital gains and take advantage of specific tax exemptions for up to three years while earning standard interest rates.

Sections 111A and 112 lay down the tax treatment for capital gains arising from asset sales, with Section 111A covering specified short-term capital gains and Section 112 dealing with the taxation of most long-term capital gains.
Updated : Jan 3, 2026

Section 87A rebate gap: BCCI urges Budget 2026 relief for small taxpayers, investors

In its Pre-Budget Memorandum for 2026–27, the BCCI has recommended amendments to Sections 111A and 112 of the Income Tax Act to bring them in line with Section 112A(6). The chamber has proposed that small taxpayers should be allowed to claim the Section 87A rebate on their other income.

The Budget 2025 raised the New Tax Regime exemption from Rs 3 lakh to Rs 4 lakh, eliminating tax for salaried incomes up to Rs 12.75 lakh.
Updated : Jan 3, 2026

Budget 2026 may further tilt balance toward New Tax Regime after exemption hike in 2025

As Budget 2026 approaches, the New Tax Regime is firmly at the centre of the government’s personal tax strategy, following the sweeping relief announced last year. The higher exemption and zero-tax threshold introduced in Budget 2025 are now shaping expectations of a deeper push toward a simplified, deduction-light system.

Official data indicates the policy shift is delivering results, with fewer than 20% of taxpayers now opting for the old tax regime.
Updated : Jan 2, 2026

Higher exemption, lower rates: Is the New Tax Regime phasing out the Old Tax Regime?

The way Indians pay income tax is changing, with the New Tax Regime rapidly gaining ground over the traditional deductions-based system. Over successive budgets, the government has sweetened the regime with higher exemptions and lower rates. The changes have reshaped tax planning for both middle-class and high-income earners.

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