Watch: What does the Union Budget 2026 say on direct taxes?
The Finance Minister Nirmala Sitharaman’s direct tax announcements during the Budget 2026 speech marked a major overhaul in India’s tax system. At the heart of the reforms is the new Income Tax Act of 2025, which will replace the decades-old law, from April 2026, with simpler rules and redesigned forms to make compliance easier for ordinary taxpayers.
The Finance Minister Nirmala Sitharaman’s direct tax announcements during the Budget 2026 speech marked a major overhaul in India’s tax system. At the heart of the reforms is the new Income Tax Act of 2025, which will replace the decades-old law, from April 2026, with simpler rules and redesigned forms to make compliance easier for ordinary taxpayers.
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