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The real test will be what follows the window. If enforcement becomes sharper and automated after six months, compliance behaviour will structurally change
The announcement removes a key restriction under the Foreign Trade Policy and is accompanied by proposed technology-led changes to improve identification and handling of rejected and returned courier consignments
At present, this interest is treated like regular taxable income
Sitharaman said, "I propose to extend time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee."
TCS on self-funded overseas education remittances, earlier levied at 5 percent on amounts exceeding Rs 10 lakh a year, has now been reduced to 2 percent.
Fiscal consolidation stays on track and capex rises, but a steep hike in securities transaction tax on futures and options dents sentiment and adds pressure to already weak trading volumes.
Amrit Udyan at Rashtrapati Bhavan opens for public viewing from February 3 to March 31, 2026. Entry is free with mandatory online booking. Here’s how to visit.
Union Budget 2026: The measures are designed to reduce upfront tax burdens, simplify compliance and deepen overseas participation in India’s financial ecosystem.
India’s Budget 2026 places a ₹20,000 crore bet on carbon capture technologies, signalling a quiet shift in how heavy industries may cut emissions while reshaping future climate and industrial strategies.
Section 80C is among the most widely used tax-saving provisions, covering contributions and payments such as PF deposits, life insurance premiums, ELSS, PPF, NSC children’s tuition fees and principal repayment on home loans
To promote the adoption of digital payments, the government mandated that UPI transactions remain free for users, and in return, it will compensate payment firms for the costs they bear to facilitate them
Rashmika Mandanna and Vijay Deverakonda’s wedding rumours have intensified after a video showing decorations at Udaipur’s City Palace went viral on social media. The clip has sparked speculation that the couple may tie the knot on February 2, though no official confirmation has been made.
The government also proposed to develop 15 archeological sites, including local Dholavira, Lake Palace into vibrant, experiential cultural destinations.
For taxpayers without significant deductions, the new regime remains the simpler choice, even without any recent changes this year.
India has added two new Ramsar wetlands which is Patna Bird Sanctuary in Uttar Pradesh and Chhari-Dhand in Gujarat, bringing the total to 98 sites. These ecosystems support migratory birds, flamingos and desert wildlife.
According to a Moneycontrol poll of economists, treasury heads, and market participants showed that government is expected to budget Rs 2-3 lakh crore as dividend income from the Reserve Bank of India (RBI) and public sector banks (PSBs) in the Union Budget 2026, higher than the Rs 2.56 lakh crore estimated in the previous budget.
Calling India a global leader in IT services, Sitharaman has clubbed software development services, contract R&D services, IT enabled services, knowledge process outsourcing under a single category of Information Technology (IT) Services.
Losses on the Nifty were led by Bharat Electronics, which tumbled 10 percent by the time the Budget 2026 speech ended. Metal stocks remained under pressure, with Hindalco Industries falling over 6 percent. Gains were scarce and confined to a few healthcare stocks.
This recalcitration of buyback as capital gains is a welcome change and would pacify the concerns of taxpayers around buy-back route taxation, an expert said.
STT Hike: Finance Minister Nirmala Sitharaman proposed to increase the STT on Futures from 0.02 percent to 0.05 percent, while hiking the STT on options to 0.15 percent.
Sitharaman said the economic roadmap would rest on three pillars: faster growth, inclusive development and continued structural reforms, as the government looks to balance expansion with stability.
Budget 2026: FM Nirmala Sitharama announced that the new Income Tax Act, notified in July 2025, will take effect from April 1, 2026
"Minor tax offences will now attract fine only," said FM Nirmala Sitharaman during her budget speech.
Union Budget 2026 grants prosecution immunity for undisclosed small foreign assets below Rs. 20 lakh, launches a one-time six-month disclosure window, and mandates TDS on property sales by non-residents nationwide compliance.
Union Finance Minister Nirmala Sitharaman on Sunday announced a dedicated freight corridor connecting Dankuni in the east to Surat in the west.
