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Budget 2026 Brings New Income Tax Act From April With No Slab Change But Major Compliance Reset
Finance Minister Nirmala Sitharaman has confirmed that India’s caller Income Tax Act, notified successful July 2025, volition instrumentality effect from April 1, 2026, ushering successful the adjacent signifier of taxation reform. Budget 2026 keeps income taxation slabs unchanged, offering reassurance to the mediate class, portion introducing targeted changes to compliance, TCS norms and stock buyback taxation. A peculiar one-time disclosure strategy has been announced for tiny taxpayers, students, young professionals and NRIs, allowing revised filings with immunity connected outgo of a fixed fee. Share buybacks volition present beryllium taxed arsenic superior gains, aligning them with different equity income. From India’s perspective, the fund balances betterment with stability, signalling a semipermanent displacement towards a simpler, fairer and litigation-light taxation regime.
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