Vipin Upadhyay Comments on Draft Income-tax Rules 2026

Commenting on the Draft Income-tax Rules 2026, Vipin Upadhyay, highlighted the government’s renewed focus on rationalising legacy tax exemptions to reflect present-day economic realities.

He noted that a key signal in the draft rules is the long-overdue revision of allowances such as the children’s education allowance, which had remained unchanged for decades despite rising education costs. According to him, this move acknowledges that several exemptions had lost their real economic value and required recalibration.

Vipin further observed that the continued retention of the house rent allowance (HRA) highlights the government’s recognition of housing as a significant cost centre for urban taxpayers. “Together, these measures indicate a more balanced approach, one that does not compel taxpayers into a one-size-fits-all regime but allows them to choose based on their actual financial commitments,” he said.

His comments were featured in an Upstox article analysing how the draft rules place the old tax regime back into consideration for taxpayers. Read more at: https://upstox.com/news/personal-finance/tax/draft-income-tax-rules-2026-put-old-tax-regime-back-on-the-table-here-is-what-you-need-to-know/article-189143/