Income Tax Rules Change from April 1: 9 Major Updates from PF to HRA

• New Income Tax Rules, 2026, come into effect from April 1, simplifying tax filing and speeding up refunds.
• Complex terms like 'Previous Year' and 'Assessment Year' replaced by 'Tax Year' for easier understanding.
• Salaried individuals face tax on PF, NPS, superannuation investments exceeding Rs 7.5 lakh; landlord's PAN mandatory for HRA claims over Rs 1 lakh annually.
• Tax exemption for VRS amounts for those with 10 years service or over 40; full tax exemption for serious medical treatments.
• Strictness for businesses with no tax exemption for cash payments over Rs 10,000; new rules for foreign digital companies, shares, and property.