The Economic Times

Reduced TCS, extended ITR deadline, simplified TDS on property, centralised Form 15G/H, immunity from tax prosecution and more in Budget 2026

Budget 2026 brings major changes to personal income tax. Tax Collected at Source rates are reduced. Deadlines for filing income tax returns are extended. Tax Deducted at Source rules are simplified for manpower services. Small taxpayers get automated lower deduction certificates. Forms 15G and 15H can be filed centrally. Immunity from tax prosecution is expanded.