Surcharges that began as temporary measure have become a heavy fixture in income tax; Why do they need redesigning in Budget 2026

While the 10% surcharge introduced in 2013 was intended for a single year, the policy has since evolved into a complex, multi-tiered system. The abolition of the Wealth Tax in 2016 further institutionalized this shift, practically moving away the tax burden from accumulated assets to annual income flows. There is the need to design it in a manner that does not inadvertently penalize productive capital.