Common Questions

Income up to ₹12 lakhs is effectively tax-free due to the enhanced rebate under Section 87A. For salaried individuals, with ₹75,000 standard deduction, the effective tax-free income becomes ₹12.75 lakhs.

The fiscal deficit target for FY 2026-27 is 4.3% of GDP, continuing the path of fiscal consolidation from 4.5% in FY 2025-26.

Yes, the old tax regime with deductions under 80C, 80D, HRA, etc. continues to be available. However, the new regime is now the default option.

The STT hike on futures and options trading triggered a sharp selloff. ₹6 lakh crore was wiped out as the government signaled intent to curb speculative F&O trading where 93% of retail traders lose money.

The new tax rates and slabs come into effect from April 1, 2026, the beginning of Financial Year 2026-27 (Assessment Year 2027-28).