New Income Tax In Budget 2026
New Income Tax Rule In Budget 2026 : Union Finance Minister Nirmala Sitharaman is presenting the budget for the financial year 2026-27. During this time, she said many important things. She said that she will try to increase sustainable investment and India will have to increase its exports. AI will be used more widely and the development is aimed at every section of society. She also said that it is important to maintain the focus on development amidst global instability.
While presenting the budget, the Finance Minister made a big announcement regarding income tax. The new income tax rules will be implemented from April 1, 2026. Finance Minister Nirmala Sitharaman made this announcement. She said that the process will be easy for small taxpayers. They can file IT returns till July 31. ITR 1, ITR 2 people can file returns. Similarly, now NRIs can sell their properties through PAN. There will be no more penalty for income tax evasion. They can pay an additional 30% tax.
Similarly, Union Finance Minister Nirmala Sitharaman made a big announcement in the budget and said that the TCS rate on the sale of foreign travel program packages will now be 2%. Which was earlier 5% and 20%. There will be no financial limit.
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