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As India prepares to implement the new Income-tax Act from 1 April 2026, expectations of major tax changes may need to be calibrated. By Parizad SirwallaBudget 2026 income tax expectations: Finance Minister will present Union Budget 2026 in the backdrop of uncertain geopolitical dynamics, volatile capital markets, diverse regulatory reforms (e.g. new income tax act,…
The standard deduction limit varies depending on the tax regime that salaried taxpayers opt for. (AI image) Budget 2026 income tax expectations: Standard deduction is seen as a much needed relief for taxpayers – it’s a simple, straightforward deduction from your gross income – a fixed amount that allows salaried taxpayers and pensioners to reduce…
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…
