The Economic Times

Budget 2026 Key Highlights: Income tax slab, new ITR forms, filing due dates, stock buyback taxation; penalty on crypto-related income tax reporting and more

Budget 2026 brings key changes for taxpayers. The income tax return correction window extends to March 31. TDS and TCS rules are simplified, easing compliance and cash flow. Litigation and penalties are softened with reduced pre-deposits. Corporate tax sees MAT reduction and STT increases. A foreign asset disclosure window offers a compliance route for small taxpayers.