India is set to witness one of the most significant tax reforms in decades. Starting April 1, 2026, the Central Government ...

The previous Income Tax Act was over 65 years old and had more than 800 sections. The new law reduces this to around 536 sections and removes many explanations and provisos that made the law ...

What do the draft income tax rules mean for the common man? How does the calculation math for the old vs new income tax ...

As Finance Minister Nirmala Sitharaman prepares the Union Budget 2026-27, tax data reveals a significant shift. Direct tax ...

A person resident outside India (PROI) has distinct residential statuses under FEMA and the Income Tax Act, impacting foreign ...

Budget 2026 overhauls India’s tax system by easing filing timelines, cutting overseas TCS rates, exempting key compensation income and opening a one-time foreign asset disclosure window ahead of the ...

For individual taxpayers filing ITR-1 and ITR-2, the original due date will remain 31 July, ensuring that salaried ...

Union Budget 2026 maintains the existing income tax framework, with the new regime offering tax-free income up to Rs 12 lakh for individuals. While the old regime continues with its deductions, the ...

At present, taxpayers residing in Mumbai, Delhi, Kolkata and Chennai can claim HRA exemption of up to 50% of their salary.

Budget 2026 introduces a one-time Foreign Assets Disclosure Scheme offering penalty and prosecution relief for NRIs, tech ...

The Finance Minister said the revised structure will close loopholes that encouraged listed companies to prefer buybacks over ...