India, Feb. 1 -- No changes were made to income tax slabs in the Union Budget 2026. Finance Minister Nirmala Sitharaman maintained the existing tax structure but introduced measures to simplify tax compliance and provide taxpayer relief.

Key proposals include extending the timeline for revising returns to March 31 and staggered deadlines for filing returns for different categories. Tax exemptions were announced for interest from motor accident claims and for NRIs providing capital goods.

Changes to tax collection at source (TCS) rates were proposed, including reductions for overseas tour packages and education/medical expenses.

A new automated system for lower or nil deduction certificates was introduced, and the securities transaction...