New Delhi: Farmers across India are waiting for the 22nd instalment of the PM Kisan Samman Nidhi scheme, under which eligible beneficiaries receive Rs 2,000 directly in their bank accounts. While the government has not officially announced the release date, the next payment is expected between February and March 2026, based on the scheme’s usual schedule.

The PM Kisan scheme provides Rs 6,000 per year in three equal instalments to landholding farmer families through direct benefit transfer.

Farmer ID Requirement

A key update this year is the growing importance of the Farmer ID, which is being introduced as part of the government’s farmer-registry initiative. The ID is mandatory for new registrations in several states where the registry system has already started, though it may not yet be required everywhere in the country.

Authorities say the Farmer ID will help verify beneficiaries, prevent duplication, and ensure that financial assistance reaches genuine farmers.

e-KYC Still Essential

Along with the Farmer ID, e-KYC remains compulsory for all registered PM Kisan beneficiaries. Farmers who fail to complete e-KYC or update their records may face delays in receiving the next instalment.

The government has also introduced new methods such as OTP-based and facial-authentication e-KYC to make the process easier for farmers.

What Farmers Should Do

To avoid missing the next instalment, farmers should:

Complete e-KYC verification

Ensure Aadhaar is linked to their bank account

Update land and registration details

Obtain a Farmer ID if required in their state

New Delhi: The Income Tax Department has unveiled the Draft Income-tax Rules, 2026, laying the groundwork for how the new Income-tax Act, 2025 will be implemented. Although these rules are currently in draft form and could be revised after consultations with stakeholders, they offer taxpayers a clearer picture of what to expect from April 1, 2026. From better-defined valuation norms for income and perks to a push for simpler returns and more predictable compliance, the proposed rules signal a move towards a more structured and streamlined tax regime.

Push for easier ITR filing and transparent tax computation

A major focus of the draft rules is to make income-tax return (ITR) filing simpler under the new law. The government has clearly spelled out formulas and valuation methods in advance especially for salary income, perks, capital assets and foreign income. This is expected to reduce confusion and limit disputes while filing returns.

Clearer rules on taxation of employee benefits

The draft rules put special focus on how employer-provided benefits will be taxed, bringing more clarity for salaried individuals. Perks such as company accommodation, cars, meal benefits, gifts, credit card expenses, club memberships and concessional loans have been clearly defined under the proposed framework.

For instance, employer-provided housing will be taxed based on the city’s population and the employee’s salary. Use of a company car will be categorised as official, personal or mixed, with fixed monthly values assigned for tax purposes. The rules also highlight specific documentation requirements, particularly when employees claim official use. While this may mean tighter scrutiny, it also sets clearer expectations and reduces ambiguity for taxpayers.

Relief on meals, gifts and minor perks continues

The draft rules also retain tax relief on several common employee benefits. Free meals and non-alcoholic beverages provided during working hours will remain tax-free up to Rs 200 per meal. Similarly, gifts, vouchers or tokens given by employers will not attract tax as long as their total value does not exceed Rs 15,000 in a financial year.

In addition, interest-free or concessional loans from employers will continue to be exempt up to Rs 2 lakh. Loans taken for specified medical treatment will also enjoy tax benefits, subject to certain conditions. These provisions ensure that smaller workplace perks continue to offer some tax relief for salaried taxpayers.

Streamlined process, but better record-keeping required

The draft rules aim to make tax calculations more straightforward, but they also place greater emphasis on proper documentation. With detailed tables for valuing perks and clearly defined formulas, the scope for disputes and litigation may come down. However, both employees and employers will need to maintain accurate records, especially for travel claims, company car usage and reimbursements. In short, while compliance could become more structured and predictable, paperwork discipline will be key.

Clearer norms for NRIs, focus on global income rules

The draft rules also bring more clarity for non-resident Indians (NRIs), especially on how income connected to India will be calculated when exact figures are not readily available. They lay down specific methods for computation and clearly define thresholds for what qualifies as “significant economic presence,” potentially widening the scope of taxation in certain cases.

At the same time, Indian seafarers have been given much-needed clarity. The rules state that days spent on eligible foreign voyages will not be counted while determining residential status, provided the required certificates are maintained. This move is expected to reduce confusion and disputes around tax residency for those working at sea.

Clear valuation norms for ESOPs and share investments

The draft rules lay down detailed guidelines for valuing both listed and unlisted shares, which will be important for employees holding ESOPs as well as investors. They clearly spell out how the fair market value (FMV) will be determined and in which cases a valuation report from a merchant banker will be mandatory. This could directly impact the tax liability at the time of exercising stock options.

However, it is worth remembering that these are still draft rules and may be revised before final notification. That said, procedural provisions of this nature typically undergo limited changes once they are finalised.

New Income Tax law to replace 1961 Act from April 1

India is set to usher in a new tax regime with the Income Tax Act, 2025, which will replace the more than 60-year-old Income Tax Act of 1961 from April 1. The Income Tax Department has invited stakeholder comments on the Draft Income-tax Rules, 2026, and related forms till February 22, after which the final rules and forms under the new law will be notified.

Silver exchange-traded funds (ETFs) saw a dramatic 38 per cent drop, from their peak just seven days ago on January 29. This sharp decline was triggered by increased trading costs and investors cashing out profits. The market saw wild swings as silver prices first fell below $65 per ounce before bouncing back up by 8.6 per cent to $77.33 on Friday.The market turmoil intensified when CME Group, a major trading platform, raised the money needed to trade silver futures. This was their third such increase in just two weeks. The higher costs forced many traders to sell their holdings quickly. Adding to the pressure were concerns about the Federal Reserve’s strict monetary policy after Kevin Warsh’s nomination and a stronger US dollar.“Last week’s steep plunge was driven by hawkish Fed expectations after Kevin Warsh’s nomination, a stronger dollar, and sharp CME margin hikes that forced leveraged unwinding,” said Hareesh V, who leads commodity research at Geojit Investments Limited. He added that profit-taking after reaching record highs made the market even more unstable, as quoted by ET.The recent events have shown how quickly silver prices can change. These sudden price moves have left many investors nervous about the market’s stability. The combination of higher trading costs, profit-taking, and broader economic factors has created a perfect storm in the silver market.

Time to invest?

Fund managers are encouraging investors to consider silver investments despite recent volatality, recommending a systematic approach for long-term gains. While silver prices have fallen sharply from recent highs above $120, experts believe the fundamental outlook remains strong due to supply deficits and robust industrial demand, though they emphasize the importance of careful position sizing and risk management.“Yes, at current levels investors can consider taking exposure to silver ETFs with a long-term perspective and through a systematic approach,” said Satish Dondapati, Fund Manager at Kotak Mahindra AMC, as quoted by ET. He advised limiting precious metals allocation to 15-20% based on risk tolerance.The recent price decline was amplified by silver’s thin market structure. “Silver has come off mainly because it has run up too fast in a short period,” said Akshat Garg, Head of Research & Product at Choice Wealth. He noted that silver typically shows more dramatic price swings than gold due to its smaller market size.Technical signs suggest prices may stabilise soon, according to ET analysis. Silver now trades in the $71-$80 demand zone, with support near $64 matching the 100-day moving average. This indicates potential recovery after the correction from $120 levels.Wealth managers strongly recommend a staggered buying approach over lump-sum investments. “Investors should avoid chasing prices or reacting to day-to-day moves. Silver works best as a small, supporting allocation in a portfolio, not as a core holding,” Garg advised.Experts emphasised staying focused on long-term fundamentals like geopolitical tensions and central bank policies while monitoring the dollar and Fed signals. They suggest the recent decline may offer opportunities for those who missed earlier gains, provided they can handle continued market volatility.“For long-term investors, this phase is about patience and discipline rather than action,” Garg added. A move above $80-$85 could signal further recovery toward $100-$105, though investors should prepare for ongoing market turbulence, according to him.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)