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While some of these expectations are in sync with the government’s stated intent of simplifying and streamlining the taxation regime in India, others depict a wishlist. By Richa SawhneyThe Union Budget is just round the corner, and it is that time of the year when Indian taxpayers look at the hon’ble Finance Minister with a…
The new versus old tax regime choice was meant to empower taxpayers. Instead, it has spawned a parallel paperwork universe. By Nishant KhemaniEvery Union Budget comes with its share of grand announcements, but for ordinary taxpayers, the real test lies in the fine print. As Budget 2026 approaches, expectations are modest yet meaningful: simplify compliance,…
As of April 1, 2025, nearly 5.4 lakh appeals were pending before the Commissioner of Income-tax (Appeals). (AI image) As the Union Budget 2026 draws closer, industry bodies and tax professionals are urging the government to shift part of its reform focus from tax rate rationalisation to the far more structural problem of long-pending direct…
The government has increasingly been nudging taxpayers to opt for the new income tax regime. (AI image) Budget 2026 income tax expectations: Will FM Nirmala Sitharaman provide more reason to cheer for salaried and middle class taxpayers two years in a row? 2025 was a year of tax reforms – massive overhaul of the new…
Fundamentally, the government wants to move towards an income tax return regime with minimal deductions and exemptions. (AI image) Finance Minister Nirmala Sitharaman will present the Union Budget 2026 on February 1, 2026 and like every year common man and taxpayers, especially salaried are watching out for possible changes on the income tax front. One…
If Budget 2026 is to accelerate growth meaningfully, it must leave more money in the hands of taxpayers. (AI image) By Umesh Kumar JethaniAs India pushes towards the $5-trillion economy milestone, the Union Budget 2026 has a pivotal opportunity to fuel this growth. Consumption remains the most reliable engine of the Indian economy. Yet, rising…
The requirement to issue TDS and TCS certificates is increasingly seen as redundant. (AI image) India’s tax deduction at source (TDS) framework, originally designed as a mechanism to ensure steady revenue inflows and improve tax compliance, has over the years become a source of complexity, cash-flow stress and litigation for businesses. With the scope of…
Dinesh Kanabar, Chairman & CEO, Dhruva Advisors The Income-tax Act, 2025, which is slated to come into force from 1 April 2026, is the product of an extensive consultative exercise, involving a Parliamentary Committee, wide-ranging stakeholder representations, and detailed deliberations before its eventual enactment. Against this backdrop, it would ordinarily be expected that the forthcoming…
For self-occupied homes, the deduction for interest is capped at Rs 2 lakh a year – a figure unchanged since 2015. (AI image) Falling home-loan rates, increase in young population seeking to buy homes and a steady revival in residential sales have encouraged many to take the plunge into home ownership. Tax incentives continue to…
The Union Budget has a unique opportunity to place retirement security firmly at the center of India’s economic agenda. (AI image) By Sriram IyerAs India aspires to become a developed economy by 2047, one of the most critical yet under-discussed pillars is retirement security. Despite rapid financialisation of household savings, India’s pension assets stand at…
