#IndiaBudget2026| Budget 2026: Sitharaman Announces No Changes in Income Tax Rates India's Finance Minister Nirmala Sitharaman presented the Annual Budget on Sunday, and announced no changes in income tax rates. She proposed a new scheme for small taxpayers and said the new Income Tax Act will take effect from April 1, highlighting simpler rules and improved compliance with nationwide implementation clarity. | Firstpost
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In today’s sitting, Opposition Leader, Mark Golding raised key points on the Income Tax Act amendment, especially regarding the relief granted post-Hurricane Melissa: Key Concerns Raised: Will the $200,000 income tax exemption also apply to NIS, NHT, and HEART contributions? If not, employees earning below that threshold could still be taxed under those laws. Questioned the Minister’s claim of a permanent mechanism, pointing out the clause only applies from Nov 2025 to March 2026. Endorsed creat
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