\n| \n Income Bracket<\/b><\/p>\n<\/td>\n | \n New Tax Regime (Default)<\/b><\/p>\n<\/td>\n | \n Old Tax Regime (Optional)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Up to Rs 2.5 Lakh<\/span><\/p>\n<\/td>\n | \n Nil<\/span><\/p>\n<\/td>\n | \n Nil<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 2.5 Lakh \u2013 Rs 3 Lakh<\/span><\/p>\n<\/td>\n | \n Nil<\/span><\/p>\n<\/td>\n | \n 5% (Nil for Seniors)<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 3 Lakh \u2013 Rs 4 Lakh<\/span><\/p>\n<\/td>\n | \n Nil<\/span><\/p>\n<\/td>\n | \n 5%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 4 Lakh \u2013 Rs 5 Lakh<\/span><\/p>\n<\/td>\n | \n 5%<\/span><\/p>\n<\/td>\n | \n 5%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 5 Lakh \u2013 Rs 8 Lakh<\/span><\/p>\n<\/td>\n | \n 5%<\/span><\/p>\n<\/td>\n | \n 20%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 8 Lakh \u2013 Rs 10 Lakh<\/span><\/p>\n<\/td>\n | \n 10%<\/span><\/p>\n<\/td>\n | \n 20%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 10 Lakh \u2013 Rs 12 Lakh<\/span><\/p>\n<\/td>\n | \n 10%<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 12 Lakh \u2013 Rs 16 Lakh<\/span><\/p>\n<\/td>\n | \n 15%<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 16 Lakh \u2013 Rs 20 Lakh<\/span><\/p>\n<\/td>\n | \n 20%<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Rs 20 Lakh \u2013 Rs 24 Lakh<\/span><\/p>\n<\/td>\n | \n 25%<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n<\/tr>\n\n| \n Above Rs 24 Lakh<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n | \n 30%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/span>Foreign Assets of Small Taxpayers \u2013 Disclosure Scheme (FAST-DS 2026)<\/b><\/span><\/h3>\nThe Union Budget 2026 highlights provides a <\/span>six-month voluntary disclosure window<\/b> to solve the legacy non-disclosure problem faced by students and young professionals.<\/span><\/p>\n\n- Category A:<\/b> For those who missed disclosing foreign income or assets (totaling up to <\/span>Rs 1 Crore<\/b>), immunity from prosecution is granted upon paying <\/span>30% tax<\/b> and a <\/span>30% penalty<\/b>.<\/span><\/li>\n
- Category B:<\/b> In cases of those who report income and not the asset (value up to <\/span>Rs 5 Crore<\/b>), immunity is granted against a nominal fee of <\/span>Rs 1 Lakh<\/b>.<\/span><\/li>\n
- Retrospective Relief:<\/b> Persons who hold non-immovable foreign assets less than the value of <\/span>Rs 20 Lakh<\/b> will no longer be prosecuted, retrospectively, since October 1, 2024.<\/span><\/li>\n<\/ul>\n
<\/span>Key Highlights of the 2026-27 Tax Structure<\/b><\/span><\/h3>\n\n- Default Status:<\/b> The default option is that of the <\/span>New Tax Regime<\/b>. To be eligible to qualify for deductions such as HRA or 80C, you need to specifically elect the Old Regime when you file.<\/span><\/li>\n
- Zero-Tax Threshold:<\/b> Under the New Regime effective tax-free income of salaried earners (Gross Income) become of <\/span>Rs 12,75,000, <\/b>owing to the <\/span>standard deduction of Rs 75,000 <\/b>and the rebate of <\/span>Rs 60,000 <\/b>under Section 87A.<\/span><\/li>\n
- Marginal Relief:<\/b> On income slightly above the Rs 12,75,000 mark, the budget grants <\/span>Marginal Relief<\/b>. This will make sure that the tax you pay is not more than the incremental income over the threshold.<\/span><\/li>\n
- Surcharge Cap:<\/b> Under the New Tax Regime, the maximum surcharge is <\/span>25%<\/b>, and under the Old Regime, high-net-worth individuals may pay a surcharge to <\/span>37%<\/b>.<\/span><\/li>\n<\/ul>\n
<\/span>2. Stock Market & Securities: Curbing Speculation & Rationalizing Returns<\/b><\/span><\/h2>\nThe <\/span>Union Budget 2026 <\/b>has established a radical roadmap of the Indian capital markets by giving its prime importance to long-term capital formation as opposed to speculative churn. In response to the “unrestricted growth of retail involvement in high-risk derivatives, the government announced steep increases in the <\/span>Securities Transaction Tax (STT)<\/b>, even as it remodelled <\/span>share buyback taxation <\/b> | | | | | | | | | | | |
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