Page 5 - Latest Updates on Income tax
Union Budget 2026: Are you eligible for standard deduction in FY27?
Standard deduction cannot be claimed on freelance, interest, rental or business income, say experts
 "Union Budget 2026: Are you eligible for standard deduction in FY27?")
Income tax calculator after Budget 2026: Rs 6-50 lakh tax break-up
Income tax calculator: Compare old and new tax regimes to see how much you'll actually pay on Rs 6-50 lakh income in FY27
 "Income tax calculator after Budget 2026: Rs 6-50 lakh tax break-up")
Income Tax dept aims to dispose of over 200,000 CIT(A) appeals in FY26
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty
 "Income Tax dept aims to dispose of over 200,000 CIT(A) appeals in FY26")
Tax slabs FY27 unchanged: Experts on which tax regime saves you more now
New regime typically wins unless deductions are high enough to tilt the calculation toward old, says expert
 "Tax slabs FY27 unchanged: Experts on which tax regime saves you more now")
What changes for taxpayers in Budget 2026? 10 major tax changes explained
Key tax rule changes this year cover derivatives, buybacks, revised ITR timelines and crypto reporting penalties
 "What changes for taxpayers in Budget 2026? 10 major tax changes explained")
Budget 2026-27: A reformist reckoner for taxes, certainty and relief
Budget 2026 signals a decisive push to cut tax litigation, decriminalise defaults and offer long-term certainty as India prepares to roll out the new income-tax law
 "Budget 2026-27: A reformist reckoner for taxes, certainty and relief")
Budget 2026 vs 2025: No new tax cuts; gains and misses for middle class
Budget 2026 vs 2025 Tax Slab: Budget 2026 keeps tax slabs unchanged, focuses on compliance relief and builds on last year's middle-class tax reset
 "Budget 2026 vs 2025: No new tax cuts; gains and misses for middle class")
Union Budget 2026: From semiconductors to rare-earth hubs, key takeaways
Budget 2026: The Budget lays out new schemes and higher spending on infrastructure, technology, healthcare and jobs, while offering support for industry and students
 "Union Budget 2026: From semiconductors to rare-earth hubs, key takeaways")
Eco Survey suggests synergy between I-T & customs on related-party imports
Experts welcomed the recommendation, saying it could lower transaction costs and litigation, making India more competitive against peer economies
 "Eco Survey suggests synergy between I-T & customs on related-party imports")
Budget 2026-27: Experts seek reforms to ease I-T litigation backlog
Experts suggest direct ITAT access and stronger dispute resolution mechanisms to tackle 5.4 lakh pending tax appeals and ease litigation backlog
 "Budget 2026-27: Experts seek reforms to ease I-T litigation backlog")
Budget 2026: Why old income tax regime still appeals to salaried taxpayers
As the Finance Minister readies Budget 2026, salaried taxpayers remain split on whether lower rates can truly replace deductions
Budget 2026: No big-bang cuts but some relief likely for salaried class
Tax experts say the Centre is expected to strengthen the new tax regime through slab rationalisation and higher rebates rather than expanding deductions
 "Budget 2026: No big-bang cuts but some relief likely for salaried class")
Co-borrowers must be co-owners and contribute to EMIs to claim tax benefits
The deduction claimed must be in proportion to their ownership share and actual EMI contribution
 "Co-borrowers must be co-owners and contribute to EMIs to claim tax benefits")
Budget 2026: Experts explain why the new tax regime still needs fixes
Experts argue cost-of-living relief can reduce the sharp tax jump after ₹12 lakh
 "Budget 2026: Experts explain why the new tax regime still needs fixes")
Centre's net direct tax collections rose 9% to ₹18.38 trillion till Jan 11
The mop-up includes net corporate tax collection of over Rs 8.63 trillion and tax from non-corporates, including individuals and HUFs, of Rs 9.30 trillion
 "Centre's net direct tax collections rose 9% to ₹18.38 trillion till Jan 11")
Income Tax Act, 2025 to replace the 1961 law from April 1: Explained
What the Income Tax Act, 2025 changes and what stays the same for taxpayers
 "Income Tax Act, 2025 to replace the 1961 law from April 1: Explained")
Budget 2026: Why higher super-rich tax may backfire, experts explain
Tax specialists warn higher surcharges could push wealth and talent overseas
Budget 2026: Experts ask govt to not up income tax surcharge on super rich
Those earning above Rs 5 crore and are in the new income tax regime pay a 25 per cent surcharge, while those under the old tax regime pay a surcharge at a 37 per cent rate
Simplified Income Tax Act 2025 to come into force from Apr 1: What it means
The new law simplifies the tax timeline by doing away with the distinction between the assessment year and the previous year, replacing it with a single 'tax year' framework
Govt may relax transfer-pricing regime, make eligibility rules flexible
Move aimed at making safe-harbour rules more attractive and practical
 "Govt may relax transfer-pricing regime, make eligibility rules flexible")