Budget 2026: Joint Tax Filing for Spouses Proposed, Could Reduce Family Tax Burden
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Moneycontrol•20-01-2026, 18:25
Budget 2026: Joint Tax Filing for Spouses Proposed, Could Reduce Family Tax Burden
- •India currently lacks joint tax filing for spouses; each individual files separately.
- •ICAI recommends introducing optional joint tax filing, citing its success in countries like the US and Germany.
- •Joint filing could reduce tax liability for families, especially single-earner households, by utilizing combined income under a separate slab.
- •Spouses could maximize benefits from home loan, health insurance, and other tax-saving investments.
- •ICAI proposes doubling the basic exemption limit to Rs 8 lakh for joint filers, with a 30% tax rate above Rs 48 lakh.
Why It Matters: Joint tax filing for spouses, if introduced in Budget 2026, could significantly reduce family tax burdens.
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