Quick Summary
In its Pre-Budget Memorandum for Union Budget 2026-27, the Institute of Chartered Accountants of India (ICAI) has proposed a series of prudent tax reforms aimed at simplifying compliance, promoting equitable taxation and encouraging sustainable economic growth. Among its key recommendations, the ICAI has suggested the introduction of optional joint taxation for married couples, a move that could significantly benefit dual-income households and align India's tax structure with global best practic
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FAQ :
ICAI has proposed the introduction of optional joint taxation for married couples in its Pre-Budget Memorandum for Union Budget 2026-27.
Currently, India follows an individual-based taxation system where each spouse is taxed separately.
Optional joint taxation could allow couples to optimise their tax liability, promote family financial planning, and simplify compliance, particularly for dual-income households.
Countries such as the US, UK, and Canada follow similar practices to the proposed optional joint taxation.
ICAI's broader suggestions include mitigating litigation, reducing compliance burden, preventing tax avoidance, and rationalising income-tax provisions.
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