Nil deduction certificate for small taxpayers, announced in Budget 2026
Finance Minister Nirmala Sitharaman during her Budget 2025 speech today (Sunday, February 1, 2026) announced a scheme where small taxpayers will be issued a nil-deduction certificate by through a rule-based automated process by the Income Tax Department.
"I propose a scheme for small taxpayers wherein a rule-based automated process will enable obtaining a lower or nil deduction certificate. Instead of filing an application with the assessing officer for the ease of taxpayer holding securities in multiple companies, I propose to enable depositaries to accept Form 15 G or Form 15 h from the investor and provide it directly to various relevant companies," says the Finance Minister on Sunday.
