Ekhai Mipui tana thu lawmawm union budget ah le.. скачать в хорошем качестве

Ekhai Mipui tana thu lawmawm union budget ah le..

#isazote #indianews #unionbudget2026 Ekhai Mipui tana thu lawmawm union budget ah le.. // The Union Budget 2026 may not offer big-ticket tax breaks like last year, but it introduces a series of targeted measures that will directly affect middle-class taxpayers. While some provisions offer continuity and procedural relief, others aim to simplify compliance and reduce friction rather than deliver outright tax cuts. From retaining effective tax relief for middle-income earners to extending timelines for revised returns, rationalising Tax Collected at Source (TCS), and granting relief on motor accident compensation, the Budget carries several changes that merit close attention. According to CA Dr Suresh Surana, Budget 2026 impacts the middle class primarily through continuity in tax relief, compliance relaxations and targeted exemptions. Here are five key Budget 2026 announcements every middle-class taxpayer should understand. 1. Continuity of effective tax relief The Finance Bill, 2026 does not propose any change in the personal income tax relief available to middle-income taxpayers. As a result, the existing slab structure under the concessional or new tax regime, along with the rebate mechanism, continues to ensure that individuals with total taxable income of up to ₹12 lakh are not subject to income tax This means salaried taxpayers and pensioners falling within this income threshold remain outside the tax net, preserving disposable income without any additional compliance burden. Importantly, tax rates under the old tax regime have also been left unchanged, offering stability to taxpayers who continue to rely on deductions and exemptions. 2. Extended time limit for ITRs Budget 2026 provides additional flexibility to taxpayers by extending the timeline for filing revised returns. Under Section 263(5) of the Income-tax Act, 2025 (corresponding to Section 139(5) of the Income-tax Act, 1961), a taxpayer who discovers any omission or wrong statement in the original or belated return can file a revised return. Earlier, such revised returns had to be filed within nine months from the end of the relevant tax year or before completion of assessment, whichever was earlier. The Finance Bill, 2026 proposes to extend this time limit to 12 months from the end of the relevant tax year 3. TCS rationalisation on overseas tour packages The government has rationalised TCS on overseas tour programme packages. Earlier, tax was collected at source at 5% on amounts up to Rs 10 lakh and 20% on amounts exceeding Rs 10 lakh. Under Budget 2026, this structure has been simplified to a uniform TCS rate of 2%, with the removal of the Rs 10 lakh threshold. This means TCS will be collected at a single rate of 2% irrespective of the package value, reducing upfront cash outflow and simplifying compliance for travellers. Overseas tour programme packages: At present, TCS is collected at 5% on overseas tour packages costing up to ₹10 lakh, and at a steep 20% on the amount exceeding Rs 10 lakh. Under the new rules, this two-tier structure has been replaced with a single TCS rate of 2%, with the Rs 10 lakh threshold removed entirely. This means any overseas tour package, irrespective of its cost, will now attract TCS at a uniform rate of 2%, significantly reducing the upfront tax outgo for travellers.