Draft Income Tax Rules 2026: The Income Tax Department has released a new set of draft income tax rules, which once finalised, will be applicable for financial year 2026-27. There are several changes in the draft income tax rules that impact the way you pay income tax, withdraw cash, pay in cash etc. and the need to quote your PAN card number for a variety of transactions. Following the release of the draft rules, the government has invited comments and suggestions from stakeholders, with February 22, 2026 set as the deadline for submitting feedback. After reviewing the responses received, the revised rules will be finalised, formally notified, and are expected to take effect from April 1, 2026.