coin-img-ETHETH-2.43%coin-img-ZAMAZAMA+64.60%coin-img-HYPEHYPE+4.71%coin-img-MOLTMOLT+130.75%coin-img-XAUTXAUT-2.25%coin-img-ASTERASTER+3.89%coin-img-BTCBTC-0.23%coin-img-SOLSOL-1.22%coin-img-ETHETH-2.43%coin-img-ZAMAZAMA+64.60%coin-img-HYPEHYPE+4.71%coin-img-MOLTMOLT+130.75%coin-img-XAUTXAUT-2.25%coin-img-ASTERASTER+3.89%coin-img-BTCBTC-0.23%coin-img-SOLSOL-1.22%coin-img-ETHETH-2.43%coin-img-ZAMAZAMA+64.60%coin-img-HYPEHYPE+4.71%coin-img-MOLTMOLT+130.75%coin-img-XAUTXAUT-2.25%coin-img-ASTERASTER+3.89%coin-img-BTCBTC-0.23%coin-img-SOLSOL-1.22%coin-img-ETHETH-2.43%coin-img-ZAMAZAMA+64.60%coin-img-HYPEHYPE+4.71%coin-img-MOLTMOLT+130.75%coin-img-XAUTXAUT-2.25%coin-img-ASTERASTER+3.89%coin-img-BTCBTC-0.23%coin-img-SOLSOL-1.22%
user-avatar
Humpy Adepu

Budget 2026 Proposes Full Tax Exemption on MACT Compensation and Interest

In Budget 2026, the Centre proposed that compensation and interest awarded by Motor Accidents Claims Tribunals in cases of death, permanent disability or injury be fully exempt from income tax and from tax deducted at source, effective April 1, 2026, subject to parliamentary approval. This change would let accident victims and their families receive the entire MACT award without filing returns solely to reclaim TDS, easing their financial and compliance burden.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.