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FM Nirmala Sitharaman said the New Income Tax Act would come into effect from 1 April 2026. She had proposed to overhaul the six-decade-old Income Tax Act of 1961 in her budget presentation last year. Here's all you ...

Budget 2026: Union Finance Minister Nirmala Sitharaman has announced that tax collected at source for several purposes will now be charged at 2% instead of 5% or 20%. 

Starting 1 April 2026, any compensation and interest awarded by the Motor Accidents Claims Tribunals to an individual or their legal heirs will be entirely exempt from income tax.

The Budget has also proposed lowering the TCS rate on expenses incurred for pursuing education and for medical treatment abroad under the liberalised remittance scheme

In the Union Budget 2026-27, Finance Minister Nirmala Sitharaman proposed that the buyback proceeds for all types of shareholders will be taxed as capital gains. Details here.

Union Budget 2026 proposes extending the deadline for filing revised income-tax returns to March 31 from December 31, as FM Sitharaman announces key compliance changes under the Income Tax Act, 2025.

Budget 2026 income tax announcements: Salaried taxpayers and the middle class citizens of India were expecting major income tax announcements after the relief that FM Sitharaman announced last year.

Union Budget 2026: FM Nirmala Sitharaman announces a new automated scheme for small taxpayers in the FY27 Budget, enabling lower or nil tax deduction certificates, reducing TCS on overseas spending, and extending income-...

Income Tax Slabs Budget 2026 Live Updates: FM Nirmala Sitharaman will present her ninth Budget today. Ahead of Budget 2026, taxpayers are wishing for income tax rate cuts today. Follow along for all LIVE updates on Budge...