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What changes for taxpayers in Budget 2026? From penalty to STT, 10 things change as income tax slabs remain unchanged
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 need to know about the changes.
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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%. 
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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.
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Finance Minister Nirmala Sitharaman presented the 2026-27 Union Budget, focusing on capital expenditure and sector incentives. Additionally, taxes on certain goods have been reduced, while tobacco and alcohol rates have been hiked. 
Budget cuts tax collected at source for foreign tour packages to a uniform 2%
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
Union Budget 2026: FM Nirmala Sitharaman proposes taxing buyback proceeds as capital tax — All you need to know
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: ITR revision deadline extended to March 31
Union Budget 2026 proposes extending the deadline for filing revised income-tax returns to 31 March from 31 December, as FM Sitharaman announces key compliance changes under the Income Tax Act, 2025.
Budget 2026 Income Tax announcements: What do taxpayers get this year? Did FM Sitharaman slash rates?
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 Sitharaman announces new scheme for small taxpayers - Details inside
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-tax return deadlines.
Income Tax Slabs Budget 2026 Live Updates: What taxpayers got in Budget 2026 — were there any income tax cuts?
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