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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.
Budget 2026 grants full income tax exemption on land acquisition compensation under RFCTLARR Act, offering major relief to farmers and affected families.
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 grants full income tax exemption on disability pensions of armed forces personnel, recognising sacrifice and ensuring financial security.
Union Budget 2026 exempts interest on motor accident compensation from income tax and TDS, ensuring victims and families receive full MACT awards.