10 ways individual taxpayers will be impacted most from Budget 2026: Tax slabs, ITR filing deadlines, Foreign Asset Disclosure Scheme and more

Budget 2026 introduces a New Income Tax Act effective April 1, 2026, with staggered ITR filing deadlines and reduced TCS on overseas tour packages. A new Foreign Asset Disclosure Scheme offers regularization options for small taxpayers, while immunity from prosecution is extended for certain foreign non-immovable asset disclosures.