The new Income Tax (I-T) Act is set to come into effect tomorrow, on 1 April 2026, with the new financial year 2026-27 and is likely to impact salaried employees, especially under the Old Tax regime. The new rules provide higher exemptions for an additional four new cities besides increasing allowances for children’s education and … Read more
The new Income Tax Bill is likely to propose 23 chapters and 16 schedules, sources told CNBC-TV18. It will introduce simpler terms such as “tax year.” The tax year would define the twelve-month financial period starting from April 1, 2026, sources said. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense … Read more
The new direct tax code or the new income tax bill may get approval in the cabinet meeting on Friday and can be introduced in Lok Sabha next week, reported India Today citing sources. Mint couldn’t independently verify the development. Union Finance Minister Nirmala Sitharaman, during her Union Budget 2025, announced that the Centre will … Read more