Budget 2026: Joint Taxation for Married Couples on the Horizon?
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News18•20-01-2026, 16:40
Budget 2026: Joint Taxation for Married Couples on the Horizon?
- •The Union Budget 2026 might introduce joint taxation for married couples, a significant shift in personal taxation.
- •This proposal would treat a household as a single unit, allowing a single ITR with combined income against restructured tax slabs.
- •Potential benefits include simplified tax filing, reduced paperwork, and higher basic exemptions for both single and double-income families.
- •The concept could raise the surcharge threshold for high earners and allow deductions for home and education loan interest.
- •The option would be voluntary, primarily benefiting middle-income earners, and is already practiced in countries like Germany and the United States.
Why It Matters: Budget 2026 may introduce voluntary joint taxation for married couples, simplifying taxes and benefiting households.
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