ICAI Proposes Joint Taxation for Married Couples in Union Budget 2026
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Firstpost•20-01-2026, 17:14
ICAI Proposes Joint Taxation for Married Couples in Union Budget 2026
- •The Institute of Chartered Accountants of India (ICAI) has proposed optional joint taxation for married couples in the Union Budget 2026.
- •This reform would allow spouses to combine incomes and file a single income tax return, simplifying compliance and potentially reducing tax liability.
- •ICAI suggests new tax slabs for joint filers, with no tax up to Rs 8 lakh and progressive rates thereafter, and increased surcharge thresholds.
- •The proposal aims to benefit single-earner families and simplify tax management, aligning India with countries like the US and Germany.
- •Challenges include a potential system overhaul, risk of tax avoidance if exemptions are doubled, and complexities for high-income dual-earner couples.
Why It Matters: ICAI proposes optional joint taxation for married couples in Budget 2026 to simplify taxes and reduce liability.
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