The Finance Bill, 2026
Where this law is right now
🏛️ Became law (Act)
Plain-language summary (AI-generated) — a quick read so you don't have to open the full PDF. May contain errors; the original document below is authoritative.
What does this law do?
This law changes income tax rates and rules for the 2026-2027 financial year, including new surcharge rates for higher income earners.
Who it affects
Individuals, businesses, and entities subject to income tax under the Income-tax Act, 1961 or 2025.
Key provisions
- Amends sections of the Income-tax Act, 1961 and 2025
- Introduces new surcharge rates for income above certain thresholds
- Creates a Foreign Assets of Small Taxpayers Disclosure Scheme, 2026
- Amends customs and GST tax rates and schedules
Points worth noting
- This is a Finance Bill, not an Act, and it is for the 2026-2027 financial year.
- It amends multiple sections of existing tax laws.
- It includes a new disclosure scheme for foreign assets.
| Source body | Parliament of India — Bills (Lok Sabha & Rajya Sabha) |
| Reference number | 3 |
| Status | closed (section: bill) |
| Year | 2026 |
| Closing date | — |
| Documents | 3 |
Highlights & Points worth asking
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Documents
The original government PDF is the authoritative source — shown below, or open it full-screen in a new tab.
Bill_passed_both
The-Finance-Bill-2026-bill_passed_both.pdf
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Bill_introduced
2026-02-01
The-Finance-Bill-2026-bill_introduced.pdf
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Bill_passed_ls
2026-03-25
The-Finance-Bill-2026-bill_passed_ls.pdf
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