One of the defining characteristics of mature consumer markets is not simply the abundance of products, but the quality of consumer decision-making. Across sectors, rising financial awareness, easier access to information and digital discovery are changing what people choose to buy and how they
Imagine reaching retirement with a bond portfolio that works like a staircase. One bond matures this year, another next year, and another the year after, giving you access to money at different points instead of having to unlock the entire investment at once
Augmont Enterprises IPO Day 2: The initial public offering (IPO) of integrated gold and silver platform Augmont Enterprises Ltd is witnessing its second day of bidding today, August 24. So far, the public issue has been subscribed 2.88 times. The Rs 825-crore IPO
Gold prices remain high in India; check 22K, 24K rates in Mumbai, Delhi, Bengaluru International gold prices also climbed to a more than three-month high on Monday. Published on: Aug 24, 2026, 13:46:24 IST By HT News Desk Prefer HTon Google Share via Copy link Gold prices remained high in India on
Businesses from India and the U.S. have expressed interest in investing in Bangladesh and made proposals to improve the country's investment climate, Commerce Minister Khandakar Abdul Muktadir has said. Mr. Muktadir’s remarks on Saturday (August 22
New income-tax draft rules 2026: What it means for your salary
New income-tax draft rules 2026: What it means for your salary, PAN and property
The draft rules indicate a big shift in how PAN will be used in everyday financial transactions. One of the key proposals is a higher threshold for quoting PAN in cash dealings. Currently, individuals must provide PAN for a single cash deposit above Rs 50,000 in a day.
New Delhi: The Central Board of Direct Taxes (CBDT) has released the draft Income-tax Rules, 2026, along with a new set of tax forms. This offers a clear glimpse into how the Income Tax Act, 2025 will be implemented from April 1. The draft has been made public for review, giving stakeholders and taxpayers a chance to understand the proposed changes. The government has invited feedback on the rules, with the consultation window open until February 22.
The draft rules indicate a big shift in how PAN will be used in everyday financial transactions. One of the key proposals is a higher threshold for quoting PAN in cash dealings. Currently, individuals must provide PAN for a single cash deposit above Rs 50,000 in a day. Under the new framework, PAN may only be required when total cash deposits or withdrawals across accounts touch Rs 10 lakh in a financial year.
Add Zee News as a Preferred Source
Spending at hotels, banquet halls, and event venues may also become less restrictive, with PAN reporting proposed only for payments above Rs 1 lakh double the existing limit. The automobile sector could see relief as well. While PAN is currently needed for most vehicle purchases, the new proposal limits the requirement to transactions above Rs 5 lakh, which may benefit entry-level car buyers.
In the real estate market, the threshold for quoting PAN in property deals may be raised from Rs 10 lakh to Rs 20 lakh, easing compliance for smaller transactions.
However, the draft tightens rules around insurance. PAN may become mandatory for every life insurance premium payment, compared to the earlier rule where it was needed mainly if annual premiums crossed Rs 50,000. Additionally, maturity proceeds from ULIPs could be taxed if annual premiums exceed Rs 2.5 lakh, indicating closer scrutiny of insurance-based investments.
Salaried employees may feel the biggest impact of the draft rules in the form of revised perquisite valuations, especially for employer-provided cars. The taxable value of such perks has remained unchanged for years. At present, it ranges between Rs 2,700 and Rs 3,300 per month, depending on the engine capacity of the car.
The draft proposes a significant hike in these valuations. The taxable value may rise to Rs 8,000 per month for cars with engines up to 1.6 litres, and Rs 10,000 per month for vehicles above 1.6 litres. While the revision aims to bring valuations in line with current economic realities, it could lead to a higher taxable salary for employees who receive company cars as part of their compensation.
The draft rules also propose higher tax-free limits for several employee benefits that have remained unchanged for years. One of the key changes is in employer-provided meals, where the tax-free value may increase fourfold to Rs 200 per meal.
Similarly, the annual exemption on gifts received from employers could be raised to Rs 15,000, up from the current Rs 5,000 limit.
The rules also offer relief on staff loans, with the tax-free threshold proposed to jump significantly from Rs 20,000 to Rs 2 lakh. If implemented, these changes could provide some cushion to salaried employees despite tighter taxation in other areas.
The proposed rules bring welcome relief for parents dealing with rising education costs. Families with school-going children are likely to benefit the most from the revised tax-free limits. The children’s education allowance, which is currently just Rs 100 per month per child (for up to two children), may be increased to Rs 3,000 per month per child. The hostel allowance is also set for a major jump, rising from Rs 300 per month to Rs 9,000 per month per child.
In addition, employees working in educational institutions may see higher tax-free benefits. The exemption on free or concessional education for their children is proposed to go up from Rs 1,000 to Rs 3,000 per month per child.
If these changes come into effect, they could help reduce the tax burden for many middle-class families.
Salaried taxpayers who continue with the old tax regime may soon get extra relief through a higher House Rent Allowance (HRA) exemption. As per draft proposals, the government may expand the list of cities where 50% HRA exemption is allowed.
Currently, this benefit is limited to Delhi, Mumbai, Kolkata and Chennai, while other cities qualify for only 40%. The new proposal could include Bengaluru, Hyderabad, Pune and Ahmedabad in the higher exemption category. If approved, employees living in these cities will be able to claim a larger portion of their HRA as tax-free, helping reduce their overall tax burden.
While the existing ITR-1 to ITR-7 filing system will remain unchanged, the draft rules propose stricter eligibility norms and wider disclosure requirements, indicating closer scrutiny by tax authorities. A new Rule 166 has been proposed to clearly define what qualifies as a defective return. This could include missing schedules, unpaid tax liabilities, or mismatches in MAT and AMT credit claims.
In a major digital push, officials may start sending notices and orders through a dedicated mobile app, alongside the current online communication channels.
Taxpayers with overseas income could face tighter checks as well. Under the proposed rules, claiming Foreign Tax Credit will require additional verification. If the foreign tax paid is Rs 1 lakh or more, certification from a Chartered Accountant will become mandatory, replacing the earlier self-declaration method.
Overall, the draft rules aim to simplify routine compliance, modernise outdated provisions, and tighten oversight of high-value and cross-border transactions. Taxpayers and industry bodies still have a limited window to share feedback before the proposed changes come into effect from April 2026.
Source: ZeeNews
Related Posts: Income tax rules 2026, ITR-1, ITR-7, CBDT,Income tax rules 2026, ITR-1, ITR-7, CBDT
Minimalistic retractable door handles became a signature feature of electric vehicles (EVs), but the controversial designs are now at the centre of China's biggest car recall, affecting more than 4 million vehicles. The recall, which includes 2.98 million Chinese-made Teslas
11 hours ago
Tempsens Instruments India IPO Day 3: The initial public offering (IPO) of temperature sensing and heating solutions provider Tempsens Instruments Ltd is witnessing its final day of bidding today, August 24. So far, the public issue has been subscribed by a strong 31.34 times. The Rs 650-crore IPO
11 hours ago
S&P 500 just hit a level seen only once before in 155 years — could a market crash be next? The S&P 500 CAPE ratio hit 40 for only the second time in 155 years, raising concerns about valuations, future returns and a possible market correction. Updated on: Aug 23, 2026
14 hours ago
Anthropic $2 trillion IPO: Why investors think it could be worth more than SpaceX Anthropic could reach a $2 trillion IPO valuation as revenue surges, raising questions about whether the AI company can be worth more than SpaceX. Published on: Aug 23, 2026
14 hours ago
US President Donald Trump has said Canada wants "the benefits of being a State, without being one" after trade talks between the two countries collapsed late on Friday. In his first comments since negotiations broke down, triggering new 50% US tariffs on a range of Canadian goods
1 days ago
India’s payments sector has raised $5.8 billion across 371 equity funding rounds since January 2021, while producing eight initial public offerings (IPOs) and triggering 25 acquisitions, as the industry increasingly consolidates around a handful of well-funded players
1 days ago
Can Reddit survive in the AI era? It wants more cash for its data—and more of people’s time Published on: Aug 22, 2026, 16:40:48 IST The Economist Prefer HTon Google Share via Copy link Earlier this summer “Backrooms”, a horror flick, became one of the most successful independent films ever
1 days ago
What with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn (£29.4tn) mark
1 days ago
Insurance regulator IRDAI has directed Edelweiss Life Insurance and Pramerica Life Insurance, in separate orders on August 20, not to open new place of business for six months for non-compliance with Expenses of Management (EoM) limits in 2024-25
2 days ago
India remains a very attractive destination for global investments and its economic fundamentals form the basis for strong investor confidence, Jyoti Jeetun, the Minister of Financial Services and Economic Planning of Mauritius told The Hindu in an interview
2 days ago
A fresh wave of US tariffs on a wide array of Canadian goods has come into effect as of midnight on Saturday after a last minute break down in trade talks. Announcing the suspension of negotiations shortly before the Friday night deadline, Canadian Prime Minister Mark Carney said he would impose
2 days ago
TCS Employee Surveillance Row: Tata Consultancy Services (TCS), India’s largest IT services company, on Friday denied reports that it is using monitoring tools to track individual employee activity on company-issued laptops. The IT giant said the purpose of the tools is to monitor the overall
2 days ago
Walmart stock falls 9% as retailer finally brings Apple Pay, Google Pay Walmart stock fell 9% after earnings despite beating estimates and raising guidance. The retailer will add Apple Pay and Google Pay Tap to Pay from August 24. Updated on: Aug 21, 2026
2 days ago
TikTok has agreed to pay $400m (£293m) to the US to end a lawsuit alleging its platform violated children‘s privacy, marking one of the largest ever settlements over the issue. The deal stems from a 2024 suit by the Department of Justice under former President Joe Biden alleging TikTok and its
2 days ago
What’s next for Nvidia after the AI chip boom? Wall Street wants more—here’s what investors need to know Nvidia stock faces high expectations ahead of August 26 earnings as Wall Street watches AI growth, valuation, open-source models and Nvidia's next big story. Updated on: Aug 22, 2026
2 days ago
Costco dividend rises: Why a $10,000 investment pays only $61 yearly A $10,000 Costco investment earns only about $61 a year in regular dividends. Here’s why investors still buy COST for growth and special dividends. Updated on: Aug 20, 2026
3 days ago
Leaving education, getting a job, buying a home and perhaps starting a family: the path previous generations followed may seem a distant dream to many now. But is it getting a bit easier - at least when it comes to getting on the housing ladder? Today's prospective first-time buyers may well feel
3 days ago
Nearly six months after US President Donald Trump vowed a swift victory over Iran, the conflict appears to be at a standstill, with prospects of a military victory or negotiated settlement growing dimmer. To break the deadlock, Trump has vowed an "economic D-Day" under which any country that does
3 days ago
Why US stocks fell today: Dow, S&P 500, Nasdaq drop as oil and bond yields rise US stocks fell as oil prices and Treasury yields rose. Dow, S&P 500 and Nasdaq dropped as Trump's Iran threat, Walmart and the bond market hit Wall Street. Published on: Aug 20, 2026
3 days ago
Crypto stocks surge as Trump backs Clarity Act: Coinbase, Circle, miners rise Crypto stocks surge as Trump backs the Clarity Act. Coinbase, Circle, Bitcoin miners and other crypto shares rise as investors expect clearer US crypto rules. Updated on: Aug 20, 2026
4 days ago
Stock Market Today, August 20: The domestic equity market snapped its seven-day losing streak and ended sharply higher on Thursday, August 20, as broad-based buying lifted sentiment across sectors after the US Treasury stepped in to contain the surge in global bond yields
4 days ago
The Reserve Bank of India RBI has accorded its approval to Life Insurance Corporation of India (LIC) for acquiring an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Ltd., the bank said in a filing with the exchanges on Wednesday (August 19, 2026) night
4 days ago
Customers have shared their outrage after an app used by many businesses to track timesheets and produce invoices hiked bills by as much as 1500%, with one person calling it "daylight robbery". Richard Haldenby, head of UK consultancy firm Salentis
4 days ago
Bitcoin Price Today, August 20: Bitcoin surged to the $70,000 mark on Thursday, recording one of its sharpest gains in recent months as a combination of lower US Treasury yields, a weaker dollar, strong institutional demand and large-scale short liquidations pushed the broader cryptocurrency market
4 days ago
US President Donald Trump has said he will launch tougher economic measures against Iran, as well as any country and that helps or does business with the country. He wrote in all capital letters on Truth Social that he was launching "the most crushing economic operation ever taken against any
4 days ago
The domestic equity markets were trading firmly higher on Thursday, August 20, with buying visible across large-cap, mid-cap and small-cap stocks. The gains strengthened through the session, with the benchmark Sensex rising more than 600 points by 1:20 pm
4 days ago
U.S. President Donald Trump will host cryptocurrency executives at the White House on Wednesday as U.S. financial regulators this week prepare to advance their framework for certain digital assets. Trump, who has earned more than $1.4 billion from his family’s crypto ventures
4 days ago
