As an individual taxpayer, if you were looking forward to Budget 2026 with the expectation of changes in income tax slabs, rates, exemptions, deductions, etc., you will be disappointed. There were ...

Union Budget 2026-27 Income Tax Changes: Expectations were sky-high from Budget 2026 when it came to income tax slabs, standard deduction, and relief under the new tax regime. Many salaried taxpayers ...

After the presentation of Union Budget 2026, the government, through the Finance Bill, 2026, has clarified the provisions relating to the filing of Updated Income Tax Returns (ITR-U) under the ...

Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment. Kindly note that this illustration ...

Income Tax Budget 2026 Highlights: Finance Minister Nirmala Sitharaman has presented the Union Budget 2026-27. No changes in the income tax slabs and income tax rates under the new or old income tax ...

Income Tax Slabs Budget 2026 Highlights: Finance Minister Nirmala Sitharaman presented her ninth consecutive Budget on Sunday, 1 February. During her speech, she highlighted various reforms for the ...

Union Finance Minister Nirmala Sitharaman on Sunday presented the Union Budget 2026 and said the Income Tax Act, 2025 will be implemented from April 1 and rules and tax returns forms will be notified ...

New Delhi: The Income Tax Department released a new draft of the ‘Income Tax Rules, 2026’ on Saturday, February 7. These new rules will come into effect from the next financial year, i.e., April 1, ...

The simplified income tax rules that will come into effect from April 1 could enable a salaried person with no additional income to verify data through a pre-filled return and submit it directly, ...

The Central Board of Direct Taxes (CBDT) has recently introduced the draft Income-tax Rules, 2026, in alignment with the Income-tax Act, 2025, which will come into effect on 1 April 2026. The draft ...

Income Tax Return: Under the new tax regime, the effective threshold may start from Rs 3 lakh for some, but mandatory filing applies if income crosses the exemption.

The basic exemption limit was raised to Rs 4 lakh, and a Rs 75,000 standard deduction applies for salaried individuals, potentially pushing the zero-tax income limit to Rs 12.75 lakh. Following the ...