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Draft Income Tax Rules 2026: Salaried Individuals Could Double Exemptions, Save Up to Rs 1.72 Lakh Annually
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New Draft IT Rules 2026: Double Exemptions, Rs 30 Lakh Earner Saves Rs 1.72 Lakh!
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Moneycontrol
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06-03-2026, 10:38
New Draft IT Rules 2026: Double Exemptions, Rs 30 Lakh Earner Saves Rs 1.72 Lakh!
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Draft Income Tax Rules, 2026, released by the Income Tax Department, propose significant changes from FY 2026-27.
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The new rules could double exemption limits, potentially saving a Rs 30 lakh salaried earner up to Rs 1.72 lakh annually.
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Children's education allowance may rise from Rs 100 to Rs 3,000/month/child; hostel allowance from Rs 300 to Rs 9,000/month/child.
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Bengaluru, Hyderabad, Pune, and Ahmedabad are proposed to be added to the list of cities eligible for higher HRA exemption.
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The exemption pool for a Rs 30 lakh earner could increase by 75%, from Rs 6.91 lakh to Rs 12.08 lakh, under the Draft Old Regime.
Read Full Article on Moneycontrol in English
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