Income Tax Draft Rules 2026: 10 Key Changes Affecting Your Money

• CBDT releases Draft Income-tax Rules, 2026, replacing six-decade-old 1962 rules, open for public comments until February 22.
• PAN rules overhauled: mandatory for annual cash deposits/withdrawals of Rs 10 lakh+, vehicle purchases Rs 5 lakh+, immovable property transactions Rs 20 lakh+, and all insurance premium payments.
• HRA benefits expanded: Bengaluru, Pune, Ahmedabad, Hyderabad now metro cities, increasing HRA exemption to 50% of basic salary.
• Higher tax-free perquisite limits for employer-provided benefits and property transaction threshold raised to Rs 20 lakh.
• Crypto exchanges face wider reporting requirements, CBDC recognized as valid electronic payment, and massive structural simplification with rules reduced from 511 to 333.