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Sign in to searchNew Income Tax Rules, 2026
The Government of India has notified the Income Tax Rules, 2026, effective from 1 April 2026, replacing the decades-old framework under the Income Tax Act, 1961. The reform aims at simplification, rationalisation, and taxpayer-friendly compliance, aligning the tax system with modern economic realities.
Salient Features: The new regime is based on the Income Tax Act, 2025, reducing sections from 819 to 536 and rules from 500+ to 333, thereby improving clarity. A major conceptual shift is the introduction of a single “Tax Year”, eliminating confusion between Previous Year and Assessment Year. Compliance timelines have been relaxed, with ITR filing extended to 31 August and revised returns allowed till 12 months (31 March). The new tax regime continues as default, offering zero effective tax up to ₹12 lakh due to rebate under Section 87A, along with an increased standard deduction of ₹75,000.
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Income Tax Rules 2026: New simplified tax framework reducing sections by 50%, introducing single Tax Year, and offering zero effective tax up to ₹12 lakh.
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