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Income Tax rules allow fair market value as on April 1, 2001 for ancestral property acquired before that date, reducing capital gains tax liability.
Union Budget 2026 replaces the Income Tax Act, 1961 with the Income Tax Act, 2025, introducing simpler filing, lower penalties, and digital compliance.
Budget 2026 removes interest deduction on dividend income, taxing dividends on a gross basis and impacting leveraged investors while benefiting self-funded taxpayers.
Union Budget 2026 introduces FAST-DS amnesty scheme allowing small taxpayers to declare undisclosed foreign assets and avoid prosecution under Black Money Act.
Union Budget 2026 shifts buyback taxation to shareholders, taxing proceeds as capital gains and ending company-level buyback tax under Section 115QA.