Budget 2026: No Direct Income Tax Relief for Common Man, Stock Market Falls

• Finance Minister Nirmala Sitharaman announced no direct income tax relief for the common public in Budget 2026.
• New income tax rules will be effective from April 1, with updated ITR forms to be notified soon.
• The tax rate on stock market transactions for future traders increased from 0.02% to 0.05%, leading to a significant market fall.
• Interest awarded by the Motor Accident Claims Tribunal will be exempt from income tax, and no TDS will be applicable.
• A single-window system will be implemented for Form 15G/15H for dividends and investments to ease taxpayer convenience.

Why It Matters: Budget 2026 disappoints common taxpayers with no direct relief, while stock market transactions face higher taxes.