Draft Income Tax Rules, 2026: Will the old tax regime regain its edge after proposed allowance upgrades?

On paper, the reform appears tidy. The number of rules falls from 511 to 333 and forms from 399 to 190, reinforcing the narrative of simplification. Yet beneath that numerical compression lie changes that materially affect taxable salary, exemption planning, and the delicate arithmetic between the old and new tax regimes.