Section 17 Amendments: Higher Income Limits for Perquisite Exemptions from 2026

Amendments to Section 17 propose higher income limits for perquisite exemptions starting in 2026. These amendments are designed to offer more tax relief to salaried individuals by increasing the income thresholds for exemptions under Section 17. The changes will benefit middle-income earners and provide more flexibility for employers and employees in managing their compensation packages. The tax relief is aimed at reducing the financial burden on employees who receive perquisites such as housing, travel, and other non-monetary benefits. The amendments reflect the government's intention to improve the standard of living for salaried professionals and make the tax system more equitable for individuals with varying income levels.