Income Tax Rules Change from April 1: 9 Major Updates from PF to HRA
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Income Tax Rules Change from April 1: 9 Major Updates from PF to HRA
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News18•20-03-2026, 17:25
Income Tax Rules Change from April 1: 9 Major Updates from PF to HRA
•New Income Tax Rules, 2026, come into effect from April 1, simplifying tax filing and speeding up refunds.
•Complex terms like 'Previous Year' and 'Assessment Year' replaced by 'Tax Year' for easier understanding.
•Salaried individuals face tax on PF, NPS, superannuation investments exceeding Rs 7.5 lakh; landlord's PAN mandatory for HRA claims over Rs 1 lakh annually.
•Tax exemption for VRS amounts for those with 10 years service or over 40; full tax exemption for serious medical treatments.
•Strictness for businesses with no tax exemption for cash payments over Rs 10,000; new rules for foreign digital companies, shares, and property.
