The Economic Times

Double tax trouble? Here are 5 changes that draft Income Tax Rules 2026 must address

Draft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues include protecting deductees from deductor defaults, rationalizing Tax Collected at Source (TCS) for NRIs, automating excess TDS refunds, and refining Statement of Financial Transactions (SFT) rules to avoid double reporting and procedural burdens.