Discussion Income Tax News & Updates

[venky]

Income tax task force has proposed a new slab structure for income tax. If it is implemented, then would be a huge relief for the working class. There won't be any change in the rebate system.

Proposed Slab suggestions:

Up to ₹2.5 lakh - Exempted
Up to ₹5 lakh - 5% (rebate up to ₹12,500)
₹5 lakh to ₹10 lakh - 10%
₹10 lakh - ₹20 lakh - 20%
₹20 lakh to ₹2 crore - 30%
₹2 crore and above - 35%

The next concern will be that how the tax amount difference will be handled by the government as lowering tax slabs will make a big margin.

Source: Livemint

 

[Dhanasekar]

this does not help the middle class. cheating by BJP

 

[Bapun]

Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. This has been granted to them under the new income tax bill. This will also include search and seizure powers over your assets and documents, which have raised major privacy concerns. Experts warn of challenges to fundamental privacy rights without judicial oversight and procedural safeguards.

Your email and social media account can be accessed by income tax officers starting next financial year in these cases

Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. This has been granted to them under the new income tax bill. This will also include search and seizure powers over your assets and documents...

economictimes.indiatimes.com

 

[abhi1276]

Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. This has been granted to them under the new income tax bill. This will also include search and seizure powers over your assets and documents, which have raised major privacy concerns. Experts warn of challenges to fundamental privacy rights without judicial oversight and procedural safeguards.

Your email and social media account can be accessed by income tax officers starting next financial year in these cases

Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. This has been granted to them under the new income tax bill. This will also include search and seizure powers over your assets and documents...

economictimes.indiatimes.com

The best way to curb tax evasion is why don't they withdraw cash completely and use only electronic means of payment so that they have all the details of every penny transact and make banking system link with incometax portal as soon as particular account reach sum threshold limit then that data already send notification to relevant authorities and for invoice they should only allowed computerized pre-printed serial number bill.