Budget 2026: Joint Tax Return for Couples Proposed, 8 Lakh Exemption Demanded

• A proposal for joint tax returns for married couples is being considered for Budget 2026.
• The demand includes a family-level tax exemption of ₹6-8 lakh, aiming to double the current individual limit.
• This system would particularly benefit single-income families facing increased financial burdens.
• The Institute of Chartered Accountants of India (ICAI) has also recommended offering a joint tax return option.
• Implementing joint taxation would require significant amendments to the Income Tax Act, aligning India with practices in countries like the US and UK.

Why It Matters: Joint tax returns proposal could bring financial relief to families.