Income-tax Rules 2026: In Budget 2026, Finance Minister Nirmala Sitharaman announced that the government would implement the new rules from April 1, 2026. This means that filing taxes from this year could be as easy as ordering food online on an app.
Income Tax Rules 2026: If you used to be frustrated by the annual visits to a chartered accountant and the confusing tax forms, there's good news for you. The government has introduced the draft Income Tax Rules 2026. These will replace the old 1956 rules and significantly reduce the hassle of filing taxes. Drafting means that the new rules will be implemented within the government's deadline
Highlights of the new rules
- You no longer need to manually enter your salary or interest information. Your data will automatically sync with your PAN card. All you need to do is verify and submit it.
- The new rules have been introduced to eliminate problems related to tax slabs and to prevent the middle class from chasing large deductions.
- If you do not select any regime while filling the form, the system will automatically select the new tax regime.
- Previously, you had to select whether to file ITR-1 or ITR-2. Now, starting in 2026, a smart form will be available that will automatically select your income based on your sources of income.
- Due to smart processing, now the refund will reach your bank account in a few days instead of weeks.
When will these rules be implemented?
In Budget 2026, Finance Minister Nirmala Sitharaman announced that the government would implement the new rules from April 1, 2026. This means that filing taxes this year could be as easy as ordering food online on an app.
What should you choose?
The biggest question these days is about regime selection: "Everything is fine, but which one should I choose?" So, let's put some of this confusion to rest in simple terms.
- Choose the old regime
If you have a large home loan, pay high school fees for your children, and invest in LIC/PPF, sticking to the old regime is a good option as you can avail deductions under sections 80C to 80U
PC:NDTVINDIA
