3717312 - New Income Tax Rules effective 2026 and Code on Wages 2025 (based on wage code bill 2019) and Income Tax Bill 2025

• New Income Tax Rules 2026

  • Income tax rules effective from 1 April 2026
  • New Income Tax rule as notified by CBDT dated 20/03/2026.
  • Meal & Voucher increase from Rs 50 to Rs 200 per meal
  • Bengaluru, Hyderabad, Pune and Ahmedabad cities eligible for 50% HRA exemption 
  • The perquisite value is revised to ₹5,000 per month for engine capacity up to 1600 cc and ₹7,000 per month for engine capacity above 1600 cc.
  • The tax-free limit for interest-free or concessional loans is revised to ₹200,000.
  • Education and Hostel Allowance Changes
  • Landlord Validation: For HRA claims, employees must declare if the landlord is a relative.
    
    
• New wage code Rules 2025 for India - legal change The Code on Wages, 2019, published on July 18, 2019 by the Lok Sabha, Government of India.
  
  
• PC00_M40_CWGS - Settlement of wages within two days of termination/retirement
   
  
  
• Income Tax Bill 2025 - published on February 8, 2025 by the Lok Sabha, Government of India.
  • Income Tax Bill 2025 - HR Renewal, Income Tax Declaration and Tax Simplifier Statement

• Updates on Labour Code as notified March 16, 2026.

  • Gratuity Calculations

  • Form 138 – Quarterly TDS Return

  • Changes: Earned leave and leave encashment under code on wages 2025

  • Perquisite for Electric Vehicle and Exemption Limit Change for Conveyance Allowance

  • Changes: Return Preparation and File Validation Utility version 1.1
    
    

• Changes: EPFO mandatory coverage wage ceiling enhanced from Rs.15,000 to Rs.25,000

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New income tax act bill, effective from April 1, 2026, Code on Wages 2025 (based on wage code bill 2019), Perquisite Valuation Changes, House Rent Allowance (HRA) & Housing Logic Modification, Employee Allowance Threshold Increases, New Income Tax Rules 2026, Income Tax Bill 2025 - HR Renewal, Income Tax Declaration and Tax Simplifier Statement, EPFO mandatory coverage wage ceiling enhanced from Rs.15,000 to Rs.25,000 , KBA , PY-IN , India , PA-PA-IN , India , PY-IN-PS , Public Sector , Problem