Union Budget 2026: New Income Tax Act Brings Simplification and Relief for Taxpayers
Union Budget 2026 replaces the Income Tax Act, 1961 with the Income Tax Act, 2025, introducing simpler filing, lower penalties, and digital compliance.
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Union Budget 2026 replaces the Income Tax Act, 1961 with the Income Tax Act, 2025, introducing simpler filing, lower penalties, and digital compliance.
Calcutta High Court rules that terminating a probationer for misconduct is punitive and requires a proper enquiry, reinforcing natural justice in employment law.
ITR filing rules for AY 2026–27 explained. Check new deadlines, ₹5,000 late fee, reduced penalty for small taxpayers, and belated return dates.
From April 2026, lower and nil TDS certificates can be filed and issued electronically, easing compliance, improving cash flow and reducing delays.
Union Budget 2026 introduces FAST-DS amnesty scheme allowing small taxpayers to declare undisclosed foreign assets and avoid prosecution under Black Money Act.