{"id":1162,"date":"2026-02-07T18:41:10","date_gmt":"2026-02-07T13:11:10","guid":{"rendered":"https:\/\/vizttax.com\/insights\/?p=1162"},"modified":"2026-03-20T15:56:37","modified_gmt":"2026-03-20T10:26:37","slug":"union-budget-2026-income-tax-in-india-key-highlights","status":"publish","type":"post","link":"https:\/\/vizttax.com\/insights\/union-budget-2026-income-tax-in-india-key-highlights\/","title":{"rendered":"Union Budget 2026 &#8211; Income Tax in India &#8211; Key Highlights"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1162\" class=\"elementor elementor-1162\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-42d7305f e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"42d7305f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-41f99909 elementor-widget elementor-widget-image\" data-id=\"41f99909\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/budget-1024x683.jpg\" class=\"attachment-large size-large wp-image-1233\" alt=\"Union Budget 2026\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/budget-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/budget-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/budget-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/budget.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1d8c3028 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"1d8c3028\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8c94e3d elementor-widget elementor-widget-heading\" data-id=\"8c94e3d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Union Budget 2026 - Income Tax in India - Key Highlights<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2bd4e841 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no e-con e-parent\" data-id=\"2bd4e841\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4d25870 elementor-widget elementor-widget-text-editor\" data-id=\"4d25870\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The<a href=\"https:\/\/www.indiabudget.gov.in\/\" target=\"_blank\" rel=\"noopener\"><strong> Union Budget 2026<\/strong><\/a> introduces major reforms aimed at improving ease of business, lowering compliance burden, rationalizing penalties, <strong>improve taxpayer relief,<\/strong> and promoting manufacturing, MSMEs, IFSC entities, and technology sectors. Understanding these changes is essential for <strong>accurate tax filing, better planning, and financial optimization<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3bc5e6a1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"3bc5e6a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-501ca482 elementor-widget elementor-widget-heading\" data-id=\"501ca482\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. Extended Due Date for Filing Income Tax Returns<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70fb2c4b elementor-widget elementor-widget-image\" data-id=\"70fb2c4b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/extended-1024x683.jpg\" class=\"attachment-large size-large wp-image-1229\" alt=\"Income Tax Slabs\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/extended-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/extended-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/extended-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/extended.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4aa5ca elementor-widget elementor-widget-heading\" data-id=\"b4aa5ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 139(1)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d93f2b6 elementor-widget elementor-widget-text-editor\" data-id=\"3d93f2b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>New Due Dates<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a6e7117 elementor-widget elementor-widget-shortcode\" data-id=\"a6e7117\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-7\" class=\"tablepress tablepress-id-7\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Category<\/th><th class=\"column-2\">Earlier<\/th><th class=\"column-3\">New<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Individuals (ITR 1 &amp; ITR 2)<\/td><td class=\"column-2\">31 July<\/td><td class=\"column-3\">Unchanged<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Individuals (Non-Audit) &amp; Trust<\/td><td class=\"column-2\">31 July<\/td><td class=\"column-3\">31 August<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Businesses (Audit)<\/td><td class=\"column-2\">31 October<\/td><td class=\"column-3\">Unchanged<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-7 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a269892 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a269892\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d97730 elementor-widget elementor-widget-heading\" data-id=\"5d97730\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Revised Return Filing \u2014 More Time Granted<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf493f7 elementor-widget elementor-widget-image\" data-id=\"cf493f7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/revised-return-1024x683.jpg\" class=\"attachment-large size-large wp-image-1234\" alt=\"Income Tax in India\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/revised-return-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/revised-return-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/revised-return-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/revised-return.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e418736 elementor-widget elementor-widget-heading\" data-id=\"e418736\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 139(5)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42503ed elementor-widget elementor-widget-heading\" data-id=\"42503ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Old Rule<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4cd4ea67 elementor-widget elementor-widget-text-editor\" data-id=\"4cd4ea67\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Revised return allowed only till <strong>31 December<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c1559e elementor-widget elementor-widget-heading\" data-id=\"8c1559e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">New Rule (Budget 2026)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2bd2ef6 elementor-widget elementor-widget-text-editor\" data-id=\"2bd2ef6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Revised return allowed <strong>up to 31 March<\/strong> of the Assessment Year<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-791bf05f elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"791bf05f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Example: FY 2025-26 return can be revised till <b>31 March 2027<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73746309 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"73746309\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e0aa3b8 elementor-widget elementor-widget-heading\" data-id=\"2e0aa3b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Updated Return (ITR-U) \u2014 Relaxed Conditions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-535d590b elementor-widget elementor-widget-image\" data-id=\"535d590b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/updated-return-1024x683.jpg\" class=\"attachment-large size-large wp-image-1238\" alt=\"Union Budget 2026\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/updated-return-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/updated-return-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/updated-return-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/updated-return.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9ea89d elementor-widget elementor-widget-heading\" data-id=\"a9ea89d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 139(8A)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dfeb832 elementor-widget elementor-widget-heading\" data-id=\"dfeb832\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Earlier Restrictions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04bb0cb elementor-widget elementor-widget-heading\" data-id=\"04bb0cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Not allowed if:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-916a583 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"916a583\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Loss reduced<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Refund claimed<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Notice issued<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5f6350 elementor-widget elementor-widget-heading\" data-id=\"a5f6350\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Now Allowed Even If<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6926993 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"6926993\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Loss is reduced<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Refund claim changes<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm0 448c-110.5 0-200-89.5-200-200S145.5 56 256 56s200 89.5 200 200-89.5 200-200 200z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Notice under reassessment issued<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34990f4 elementor-widget elementor-widget-heading\" data-id=\"34990f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Additional Tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff4e33b elementor-widget elementor-widget-shortcode\" data-id=\"ff4e33b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-8\" class=\"tablepress tablepress-id-8\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Time of Filing<\/th><th class=\"column-2\">Additional Tax<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Within 12 months<\/td><td class=\"column-2\">25%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Within 24 months<\/td><td class=\"column-2\">50%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Within 36 Months<\/td><td class=\"column-2\">60%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Within 48 Months<\/td><td class=\"column-2\">70%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">If After notice u\/s 280<\/td><td class=\"column-2\">+10% of Aggregate Tax &amp; Interest<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-8 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-636a5d81 elementor-widget elementor-widget-heading\" data-id=\"636a5d81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4. Major Relief on Tax Audit Delay \u2014 Penalty Replaced by Fee<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e445d6d elementor-widget elementor-widget-image\" data-id=\"2e445d6d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/major-relief-2026-1024x683.jpg\" class=\"attachment-large size-large wp-image-1243\" alt=\"Tax reliefs\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/major-relief-2026-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/major-relief-2026-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/major-relief-2026-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/major-relief-2026.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2bb7bb2 elementor-widget elementor-widget-heading\" data-id=\"2bb7bb2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 44AB &amp; Section 271B (Amended)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b01635f elementor-widget elementor-widget-heading\" data-id=\"b01635f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Earlier Rule<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b04ee6 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"2b04ee6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Penalty: <b>0.5% of turnover<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maximum penalty:<b> \u20b91,50,000<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-019c84e elementor-widget elementor-widget-heading\" data-id=\"019c84e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">New Rule (Effective FY 2026-27)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f461b5d elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f461b5d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Penalty abolished<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Fixed late-filing fee introduced instead<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Fee will depend on delay period<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">No criminal exposure for technical delay<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d51c013 elementor-widget elementor-widget-shortcode\" data-id=\"d51c013\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-9\" class=\"tablepress tablepress-id-9\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Timeline<\/th><th class=\"column-2\">Late Fee<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Delay up to One month<\/td><td class=\"column-2\">\u20b975,000<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Delay beyond One Month<\/td><td class=\"column-2\">\u20b91,50,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-9 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75d8f832 elementor-widget elementor-widget-heading\" data-id=\"75d8f832\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">5. Capital Gains Tax Impact on Individuals<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20a552d9 elementor-widget elementor-widget-image\" data-id=\"20a552d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/capital-gains-1024x683.jpg\" class=\"attachment-large size-large wp-image-1247\" alt=\"capital gains\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/capital-gains-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/capital-gains-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/capital-gains-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/capital-gains.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdda27b elementor-widget elementor-widget-heading\" data-id=\"bdda27b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 111A, 112, 115QA<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f528b3c elementor-widget elementor-widget-heading\" data-id=\"f528b3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Buy-Back of Shares<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2696ed elementor-widget elementor-widget-text-editor\" data-id=\"a2696ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Buy-back income now taxed as <strong>capital gains<\/strong>, not dividend<br \/>Promoter tax:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ebd146a elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"ebd146a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Domestic Corporate promoters: 22%<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Other individuals: 30%<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-651097bc elementor-widget elementor-widget-heading\" data-id=\"651097bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">6. Reduction in Tax on Unexplained Income<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed3bce6 elementor-widget elementor-widget-image\" data-id=\"ed3bce6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/reduction-tax-1024x683.jpg\" class=\"attachment-large size-large wp-image-1251\" alt=\"Income Tax 2026\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/reduction-tax-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/reduction-tax-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/reduction-tax-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/reduction-tax.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf7bd06 elementor-widget elementor-widget-heading\" data-id=\"bf7bd06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 68, 69, 115BBE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-edd705d elementor-widget elementor-widget-shortcode\" data-id=\"edd705d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-10\" class=\"tablepress tablepress-id-10\">\n<thead>\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><\/td><th class=\"column-2\">Earlier<\/th><th class=\"column-3\">Now<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Tax Rate<\/td><td class=\"column-2\">60%<\/td><td class=\"column-3\">30%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Penalty<\/td><td class=\"column-2\">10%<\/td><td class=\"column-3\">Omitted<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-10 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b286602 elementor-widget elementor-widget-heading\" data-id=\"3b286602\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">7. TDS &amp; TCS Changes Affecting Individuals<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91fed98 elementor-widget elementor-widget-image\" data-id=\"91fed98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/TDS-TCS-1024x683.jpg\" class=\"attachment-large size-large wp-image-1258\" alt=\"TDS and TCS\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/TDS-TCS-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/TDS-TCS-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/TDS-TCS-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/TDS-TCS.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef99159 elementor-widget elementor-widget-heading\" data-id=\"ef99159\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 194C, 194Q, 206C<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70ac6ac elementor-widget elementor-widget-heading\" data-id=\"70ac6ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">TDS Changes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24071e7b elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"24071e7b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Manpower supply treated as <b>contract work<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Motor Accident Tribunal interest <b>TDS exempt<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-437dbb6 elementor-widget elementor-widget-heading\" data-id=\"437dbb6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">TCS Rate Updates<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29057ce elementor-widget elementor-widget-shortcode\" data-id=\"29057ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-11\" class=\"tablepress tablepress-id-11\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Transaction<\/th><th class=\"column-2\">Old Rate<\/th><th class=\"column-3\">New Rate<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Overseas Tour<\/td><td class=\"column-2\">5% &amp; 20%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Education \/ Medical LRS<\/td><td class=\"column-2\">5%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Scrap Sale<\/td><td class=\"column-2\">1%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Sale of minerals, being coal or lignite or iron ore<\/td><td class=\"column-2\">1%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Alcohol Liquor for Human Consumption<\/td><td class=\"column-2\">1%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Tendu Leaves<\/td><td class=\"column-2\">5%<\/td><td class=\"column-3\">2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-11 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-632f614 elementor-widget elementor-widget-heading\" data-id=\"632f614\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">8. Securities Transaction Tax (STT) Increase<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-af60143 elementor-widget elementor-widget-image\" data-id=\"af60143\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/stt-1024x683.jpg\" class=\"attachment-large size-large wp-image-1262\" alt=\"Union Budget 2026\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/stt-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/stt-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/stt-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/stt.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c09f757 elementor-widget elementor-widget-heading\" data-id=\"c09f757\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Chapter VII<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14a1abd elementor-widget elementor-widget-shortcode\" data-id=\"14a1abd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-12\" class=\"tablepress tablepress-id-12\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Instrument<\/th><th class=\"column-2\">Old STT<\/th><th class=\"column-3\">New STT<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Futures<\/td><td class=\"column-2\">0.02%<\/td><td class=\"column-3\">0.05%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Options<\/td><td class=\"column-2\">0.1%<\/td><td class=\"column-3\">0.15%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-12 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e36c4a8 elementor-widget elementor-widget-heading\" data-id=\"e36c4a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">9. Minimum Alternate Tax (MAT) Reforms<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2306945 elementor-widget elementor-widget-image\" data-id=\"2306945\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/MAT-1024x683.jpg\" class=\"attachment-large size-large wp-image-1266\" alt=\"MAT\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/MAT-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/MAT-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/MAT-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/MAT.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdb7b01 elementor-widget elementor-widget-heading\" data-id=\"bdb7b01\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 115JB<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34afdb8 elementor-widget elementor-widget-heading\" data-id=\"34afdb8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Major Changes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-452b72b elementor-widget elementor-widget-shortcode\" data-id=\"452b72b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<table id=\"tablepress-13\" class=\"tablepress tablepress-id-13\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Particular<\/th><th class=\"column-2\">Earlier<\/th><th class=\"column-3\">Budget 2026<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">MAT Rate<\/td><td class=\"column-2\">15%<\/td><td class=\"column-3\"><strong>14%<\/strong><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">MAT Credit<\/td><td class=\"column-2\">Allowed<\/td><td class=\"column-3\"><strong>Final tax; no new credit<\/strong><\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">MAT on Non-Residents<\/td><td class=\"column-2\">Applicable<\/td><td class=\"column-3\"><strong>Not applicable in <\/strong>presumptive cases<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-13 from cache --><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-030ce99 elementor-widget elementor-widget-heading\" data-id=\"030ce99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">10. Corporate Tax Rates &amp; IFSC Incentives<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe30d8b elementor-widget elementor-widget-image\" data-id=\"fe30d8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/ifsc-1024x683.jpg\" class=\"attachment-large size-large wp-image-1270\" alt=\"Corporate TAX\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/ifsc-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/ifsc-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/ifsc-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/ifsc.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e84f47e elementor-widget elementor-widget-heading\" data-id=\"e84f47e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 115BAA \/ IFSC Amendments<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-028fd33 elementor-widget elementor-widget-heading\" data-id=\"028fd33\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key Update<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39f0540 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"39f0540\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Units in<b> International Financial Services Centre (IFSC)<\/b> will now be taxed at <b>15%<\/b> after tax-holiday period (earlier 22% or 30%)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Effective from <b>AY 2026-27<\/b><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f0a631b elementor-widget elementor-widget-heading\" data-id=\"f0a631b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">11. Dividend &amp; Mutual Fund Expense Deduction Removed<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c9a86f elementor-widget elementor-widget-image\" data-id=\"4c9a86f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/deduction-removed-1024x683.jpg\" class=\"attachment-large size-large wp-image-1274\" alt=\"Income Tax 2026\" srcset=\"https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/deduction-removed-1024x683.jpg 1024w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/deduction-removed-300x200.jpg 300w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/deduction-removed-768x512.jpg 768w, https:\/\/vizttax.com\/insights\/wp-content\/uploads\/2026\/02\/deduction-removed.jpg 1536w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-61ee911 elementor-widget elementor-widget-heading\" data-id=\"61ee911\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 57<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28b6b73 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"28b6b73\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Interest deduction <b>no longer allowed<\/b> against dividend\/mutual fund income from AY 2026-27<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Prevents excessive tax sheltering<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46aeb83 elementor-widget elementor-widget-heading\" data-id=\"46aeb83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">12. Stay of Demand Reduced<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3213b26 elementor-widget elementor-widget-heading\" data-id=\"3213b26\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Section 220(6)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a373eb3 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"a373eb3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-compress\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M436 192H312c-13.3 0-24-10.7-24-24V44c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v84h84c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12zm-276-24V44c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v84H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h124c13.3 0 24-10.7 24-24zm0 300V344c0-13.3-10.7-24-24-24H12c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h84v84c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm192 0v-84h84c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12H312c-13.3 0-24 10.7-24 24v124c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Stay allowed by paying <b>10% tax<\/b> (earlier 20%)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a5667ec elementor-widget elementor-widget-heading\" data-id=\"5a5667ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Need expert help with Personal Income Tax Filing, Tax Planning, Capital Gains Advisory, Corporate Tax Planning, Tax Audit, MAT Strategy or or Litigation Support?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3995eac3 elementor-widget elementor-widget-text-editor\" data-id=\"3995eac3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/vizttax.com\/i\">Contact us<\/a> today for <strong>ITR Filing, Refund Optimization, Corporate Tax Advisory, Litigation Support, Compliance Review &amp; Strategic Tax Planning<\/strong><br \/>We assist <strong>Salaried Individuals, NRIs, Business Owners, High-Net-Worth Taxpayers, MSMEs, Startups, Large Corporates &amp; IFSC entities<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7482f7e e-flex e-con-boxed 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1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tWhatsApp\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Union Budget 2026 &#8211; Income Tax in India &#8211; Key Highlights The Union Budget 2026 introduces major reforms aimed at improving ease of business, lowering compliance burden, rationalizing penalties, improve taxpayer relief, and promoting manufacturing, MSMEs, IFSC entities, and technology sectors. Understanding these changes is essential for accurate tax filing, better planning, and financial optimization. 1. Extended Due Date for Filing Income Tax Returns Section 139(1) New Due Dates 2. Revised Return Filing \u2014 More Time Granted Section 139(5) Old Rule Revised return allowed only till 31 December New Rule (Budget 2026) Revised return allowed up to 31 March of the Assessment Year Example: FY 2025-26 return can be revised till 31 March 2027 3. Updated Return (ITR-U) \u2014 Relaxed Conditions Section 139(8A) Earlier Restrictions Not allowed if: Loss reduced Refund claimed Notice issued Now Allowed Even If Loss is reduced Refund claim changes Notice under reassessment issued Additional Tax 4. Major Relief on Tax Audit Delay \u2014 Penalty Replaced by Fee Section 44AB &amp; Section 271B (Amended) Earlier Rule Penalty: 0.5% of turnover Maximum penalty: \u20b91,50,000 New Rule (Effective FY 2026-27) Penalty abolished Fixed late-filing fee introduced instead Fee will depend on delay period No criminal exposure for technical delay 5. Capital Gains Tax Impact on Individuals Section 111A, 112, 115QA Buy-Back of Shares Buy-back income now taxed as capital gains, not dividendPromoter tax: Domestic Corporate promoters: 22% Other individuals: 30% 6. Reduction in Tax on Unexplained Income Section 68, 69, 115BBE 7. TDS &amp; TCS Changes Affecting Individuals Section 194C, 194Q, 206C TDS Changes Manpower supply treated as contract work Motor Accident Tribunal interest TDS exempt TCS Rate Updates 8. Securities Transaction Tax (STT) Increase Chapter VII 9. Minimum Alternate Tax (MAT) Reforms Section 115JB Major Changes 10. Corporate Tax Rates &amp; IFSC Incentives Section 115BAA \/ IFSC Amendments Key Update Units in International Financial Services Centre (IFSC) will now be taxed at 15% after tax-holiday period (earlier 22% or 30%) Effective from AY 2026-27 11. Dividend &amp; Mutual Fund Expense Deduction Removed Section 57 Interest deduction no longer allowed against dividend\/mutual fund income from AY 2026-27 Prevents excessive tax sheltering 12. Stay of Demand Reduced Section 220(6) Stay allowed by paying 10% tax (earlier 20%) Need expert help with Personal Income Tax Filing, Tax Planning, Capital Gains Advisory, Corporate Tax Planning, Tax Audit, MAT Strategy or or Litigation Support? Contact us today for ITR Filing, Refund Optimization, Corporate Tax Advisory, Litigation Support, Compliance Review &amp; Strategic Tax PlanningWe assist Salaried Individuals, NRIs, Business Owners, High-Net-Worth Taxpayers, MSMEs, Startups, Large Corporates &amp; IFSC entities Share the article: Facebook Twitter LinkedIn Reddit WhatsApp<\/p>\n","protected":false},"author":2,"featured_media":1233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[6],"tags":[66,72,71,73,70],"class_list":["post-1162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax","tag-business-advisory","tag-income-tax","tag-income-tax-in-india","tag-income-tax-slabs","tag-union-budget-2026"],"_links":{"self":[{"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/posts\/1162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/comments?post=1162"}],"version-history":[{"count":97,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/posts\/1162\/revisions"}],"predecessor-version":[{"id":1660,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/posts\/1162\/revisions\/1660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/media\/1233"}],"wp:attachment":[{"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/media?parent=1162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/categories?post=1162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vizttax.com\/insights\/wp-json\/wp\/v2\/tags?post=1162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}