New Income Tax Rules: India’s tax structure is on the verge of a major transformation. The Draft Income Tax Rules 2026 are not just a paper document; they are paving the way for the new ‘Income Tax Act 2025’. This law is set to completely change the way we conduct our daily transactions, earn income, and invest.
The main objective of these new rules is to increase transparency, reduce ambiguity, and close every loophole for tax evasion. Now, data will determine everything, and every penny will be accounted for with absolute precision.
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Record of every trade for seven years
If you invest in the stock market, pay attention. According to the new rules, stock exchanges will have to maintain an audit trail of every transaction for seven years. This will ensure that no transaction can be removed from the system. If any trade is modified, a report will have to be sent to the tax department every month. Whether it’s the cash market or the derivatives market, there will be government surveillance at every step. The holding periods for capital assets are also now clearly defined, so that there are no disputes regarding short-term and long-term taxes.
Rules for Salaries and Employee Benefits
There are also significant changes for salaried individuals. Now, benefits provided by companies – such as rent-free accommodation, cars, children’s education, club memberships, subsidized loans, food and travel expenses – will be taxable based on a fixed formula.
Previously, there were significant exemptions in the tax valuation of these benefits, which often led to disputes. Now, a formula, limit, and cap have been set for each benefit, so that both the employer and the employee know exactly how much tax will be levied.
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Control over Foreign Investments and Digital Businesses
The new rules have also placed strict scrutiny on foreign companies and non-residents who earn income in India but evade taxes.
If the value of a foreign asset is linked to India, then tax will be levied on it in India. Rules have also been tightened for digital and online businesses so that India can collect its fair share of taxes.
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Adarsh P
Adarsh Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...
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