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Income Tax 30 July 2026

India Tax Updates

The Indian government has introduced several changes to the tax regime, including the option for salaried employees to switch to the new tax regime while filing their returns. Freelancers can declare their earnings as business income, and the deadline for filing income tax returns is approaching. The government is also planning to scrap the Long Term Capital Gain tax on equities for domestic investors. Additionally, the Central Board of Direct Taxes has issued a guidance note on crypto-asset reporting under the Income Tax Act, 2025.

The Indian tax system is undergoing significant changes. Some key points to note include:
- Salaried employees can switch to the new tax regime while filing their returns.
- Freelancers can declare their earnings as business income.
- The deadline for filing income tax returns is July 31.
- The government is planning to scrap the Long Term Capital Gain tax on equities for domestic investors.
- The Central Board of Direct Taxes has issued a guidance note on crypto-asset reporting under the Income Tax Act, 2025.
For more information on these updates, visit the original source articles at https://www.moneycontrol.com, https://www.livemint.com, https://www.economictimes.com, and https://www.staffnews.in.

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