New Tax Rules 2026: Simplified Tax Deductions
Effective: April 1, 2026
The government is cleaning up tax rules by grouping all tax deductions into three main categories:
1. Tax on Your Salary (Section 392)
Strictly for employees. Covers monthly salary and EPF withdrawals.
2. Tax on All Other Payments (Section 393)
Covers rent, fees, interest, and commissions in one simple table. No more searching through dozens of different section numbers.
3. Tax Collected on Sales (Section 394)
Consolidates all rules where a seller collects extra tax from a buyer (e.g., luxury cars).
Why this matters?
- Less Confusion: Fewer section numbers to remember.
- Easy Filing: Structured table formats.
- No Overlap: Cleaner rules for every payment.
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