ICAI proposes optional joint taxation for married couples

Wants F&O trading excluded from presumptive income rule

- MANU KAUSHIK

WITH THE PREPARATION for the Union Budget 2026-27 under way, the Institute of Chartered Accountants of India (ICAI) has given a set of suggestions to the government that includes optional joint taxation for married couples, decriminalisation of certain prosecution provisions, removal of dual penalty for the same default.

It has also proposed introduction of year-wise e-ledger system for crediting TDS/TCS and advance tax payments.

It also recommended mandatory return filing by individuals owning more than specified acres of agricultural land.