Stay Compliant in 2026:  New Deduction Limits, ITR-U, and Deadline Penalties

The Indian fiscal landscape has undergone a monumental shift. With the discontinuing of the six-decade-old 1961 Act the Income Tax Act 2025 and the accompanying Income Tax Rules 2026 are now the law of the land. For taxpayers navigating Tax Year 2026-27 filing the environment is designed for digital-first compliance but it carries sharper consequences for those who miss the mark.