What the new income-tax rules mean for the salaried class

It is now well-known that the Income-tax Act, 2025 is all set to take effect from April 1, 2026. While the Act is the primary legislation, procedural details are contained in the ‘Rules’ accompanying the Act. Accordingly, the government had made the draft of the Income-tax Rules, 2026 (new IT Rules) public recently. It will receive stakeholders’ feedback up to February 22. The final draft, also effective from April 1, will be notified on a later date.From a personal taxation point of view, a reading of the ...