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Tax

Once notified, the Income-tax Rules, 2026 will replace the six-decade-old Income-tax Rules, 1962, which have guided tax administration alongside the 1961 Act.
Updated : Feb 7, 2026

Draft Income Tax Rules 2026: Government pushes for clarity, faceless assessments and ease of compliance

Key features of the draft rules include a wider use of pre-filled income tax returns, clearer reporting thresholds, and an expanded faceless assessment mechanism.

On the taxation side, the government made it clear that crypto transactions must be disclosed.
Updated : Feb 5, 2026

Crypto still unregulated, but under tax and enforcement radar: FinMin in Parliament

Replying in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said virtual digital assets, including cryptocurrencies and NFTs, are currently unregulated in India. However, the sector has been brought under FIU-IND oversight for anti-money laundering and counter-terror financing compliance.

Budget 2026 Tax
Updated : Feb 5, 2026

Tax 2026: How salaried employees can legally pay zero tax on income up to Rs 14.66 lakh in FY2026-27

Salaried employees opting for the new tax regime can legally reduce their income tax liability to zero with the right salary structure. By optimising employer contributions to EPF and NPS, the zero-tax threshold can be pushed well beyond ₹12 lakh.

Until now, investment norms, eligibility for tax exemptions and limits on employer contributions were governed by overlapping and sometimes contradictory provisions under tax law and labour law.
Updated : Feb 5, 2026

Budget 2026: PF trusts must meet EPF Section 17 norms to qualify for tax exemption; what does this mean

A key change concerns eligibility for tax exemption. Under the new framework, PF trusts will be recognised under the Income Tax Act, 2025, only if they are exempt under Section 17 of the EPF Act, 1952.

Budget 2026 Tax
Updated : Feb 4, 2026

CBDT to roll out new I-T forms, rules and FAQs; clarity on what might remain changed from April 1

The government has clarified that income earned in FY 2025–26 will continue to be governed by the existing Income-tax Act, 1961, even though the new law becomes effective from April 1, 2026. This is significant because the assessment of FY 2025–26 income takes place in Assessment Year 2026–27, which coincides with the first year of the new Act.

In Assessment Year (AY) 2025-26, 88% of income taxpayers under ITRs 1,2,3,4 had moved to the new income tax regime
Updated : Feb 4, 2026

Taxpayers to get simplified income tax regime from April 1 as Budget proposals, new I-T Act come into play

CBDT Chairman says 88% ITR filers moved to new income tax regime in AY 2025-26, expect more to join 

One of the clearest signals of policy stability is the proposal to extend the validity of customs advance rulings to five years.
Updated : Feb 4, 2026

Budget 2026 fine-tunes GST and customs rules to back exports, manufacturing; key details here

While focus stayed on direct taxes, experts said the customs and excise proposals signal a push to ease trade, boost certainty and align tariffs with the ‘Viksit Bharat’ vision.

One of the most impactful changes this Budget is the extension of the updated return window to 48 months.
Updated : Feb 4, 2026

Budget 2026: Tax rules kicking in from April 1 under new compliance framework; what taxpayers should note

Tax experts say the new rules will significantly influence how taxpayers file returns, disclose income, manage penalties and prosecutions, comply with TDS provisions and respond to tax notices in the coming financial year.

New Income Tax Rule
Updated : Feb 3, 2026

TCS revision and tax tweaks in Union Budget 2026: What salaried taxpayers should know

From retaining effective tax relief for middle-income earners to extending timelines for revised returns, rationalising Tax Collected at Source (TCS), and granting relief on motor accident compensation, the Budget carries several changes that merit close attention.

On the TDS side, Budget 2026 proposed relief on motor accident compensation.
Updated : Feb 2, 2026

Budget 2026 changes TDS, TCS rates across sectors: Who pays more, who gets relief

The Union Budget 2026–27 has proposed a calibrated reset of TDS and TCS rates across key sectors. While levies on alcohol, scrap and minerals are set to rise, the government has offered relief for education, medical remittances and select TDS provisions.

Arbitrage funds are particularly exposed to the STT hike because of their heavy reliance on derivatives.
Updated : Feb 2, 2026

Budget 2026: Arbitrage fund returns may drop 25–30 bps after STT rate revision, says Edelweiss MF

In the Budget 2026, Finance Minister Nirmala Sitharaman announced that STT on futures contracts would be raised to 0.05% from 0.02%, while STT on options premium and exercise of options would be increased to 0.15%.

A key direct tax reform in Budget 2026 is the revamp of the penalty and prosecution framework under the Income Tax Act.
Updated : Feb 2, 2026

Budget 2026 tax reset focuses on compliance, certainty as penalties eased, STT raised: SBI analysis

According to SBI’s Budget Analysis, the government has taken a conservative but reform-oriented approach, aligning tax proposals with its broader goals of fiscal discipline and medium-term growth. The taxation proposals reflect a clear policy shift away from aggressive enforcement towards trust-based compliance.

New Income Tax Rule
Updated : Feb 2, 2026

Budget 2026: Income Tax Act from April 1, higher FPI limits, STT hike headline FM's reform express

Union Budget 2026 unveiled a sweeping set of tax and financial sector reforms aimed at simplifying compliance, deepening capital markets and improving ease of doing business. Key announcements include the rollout of the new Income Tax Act from April, higher foreign investment limits, STT hikes on derivatives and wide-ranging customs duty relief.

Budget 2026: The Union Budget for FY27, presented by Nirmala Sitharaman, brought relief for travellers, students, clean-energy sectors and exporters. 
Updated : Feb 1, 2026

Budget 2026: Govt moves to rationalise penalty and prosecution provisions to cut litigation

In her Budget speech, Sitharaman said the government proposes to integrate assessment and penalty proceedings through a single, common order, a move aimed at avoiding the multiplicity of proceedings that often prolong disputes between taxpayers and the tax department.

For individuals, the government opted for continuity, keeping income tax slabs unchanged, with those earning up to ₹12 lakh under the new regime largely paying no tax.
Updated : Feb 1, 2026

Tax slabs FY 2026–27: What Budget 2026 changed for individual taxpayers and which regime works best

While presenting her ninth consecutive Union Budget, she announced changes to Income Tax Return (ITR) filing timelines and introduced a rule-based, automated compliance framework aimed at easing the burden on small taxpayers, among other proposals. However, she chose to keep the tax slabs under the old and new tax regimes unchanged for financial year 2026-27. 

Several procedural and technical defaults, such as reporting delays and documentation lapses, are being decriminalised.
Updated : Feb 1, 2026

Budget 2026: FM lays out trust-first tax regime across income tax, GST and customs; what should you note

FM Nirmala Sitharaman has made a clear shift in India’s tax philosophy, from fear-driven enforcement to trust-based, corrective compliance. The proposals narrow criminal liability, encourage voluntary disclosures, and prioritise proportional penalties over prosecution. Across income tax, GST and customs, the emphasis is on certainty, system-led governance and reduced litigation.

union budget session 2026 nirmala sitharaman
Updated : Feb 1, 2026

Budget 2026: New Income Tax Act 2025, TDS-TCS overhaul and compliance relief headline sweeping tax reforms

Budget 2026 delivered significant relief through a rationalisation of TDS and TCS provisions. The TCS rate on overseas tour programme packages has been slashed to 2%, down from the earlier 5% and 20%, with no minimum transaction threshold. Similarly, TCS under the Liberalised Remittance Scheme (LRS) for education and medical purposes has been reduced to 2%, easing cash-flow pressure on families sending money abroad.

Budget 2026 Tax
Updated : Feb 1, 2026

MAT made final tax from April 2026: What does that mean under Union Budget 2026 tax overhaul

Under the proposed changes, companies paying MAT will no longer be allowed to carry forward or utilise MAT credit beyond April 1, 2026. Until now, firms that paid MAT, typically due to exemptions or incentives lowering their regular tax liability, could carry forward the excess tax paid and set it off against future regular tax dues.

Deepak Shenoy said that the change is “very negative” for investors who accumulated SGBs through secondary market purchases rather than subscribing at issuance.
Updated : Feb 1, 2026

Budget 2026 tax changes: SGB tax rule change from April 2026 may wipe out secondary market premiums

Under the existing provisions of the Income-tax Act, capital gains arising from the redemption of Sovereign Gold Bonds issued by the Reserve Bank of India are exempt from tax. This exemption has been one of the biggest advantages of SGBs over physical gold and gold ETFs.

The Income Tax Act, 2025, is revenue-neutral, with no changes to existing tax rates or slabs.
Updated : Feb 1, 2026

Union Budget 2026: New Income Tax Act to come into force from April 1, says FM Sitharaman

Presenting the Union Budget 2026–27 in the Lok Sabha, FM Sitharaman said all direct tax changes proposed in the Budget would be incorporated into the new legislation, marking a major overhaul of India’s income tax framework.

The TDS change for NRIs is aimed at easing compliance and reducing procedural hurdles in such transactions.
Updated : Feb 1, 2026

NRI taxes: Budget 2026 proposes simplification of TDS process for inland property sales

FM Sitharaman also proposed a six-month disclosure window for small taxpayers—such as students, technology professionals and relocated NRIs—to voluntarily declare foreign assets and regularise their tax compliance.

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