Budget 2026: TCS Cut to 2% for Education, Medical & Travel
Union Budget 2026-27 reduces TCS rates for self-funded education, medical purposes, and overseas tour packages from 5% to 2% under LRS. Other remittances remain at 20%.
Category : GST & Taxation
Budget 2026: Tax Reforms, STT Changes, New IT Act
Finance Minister Nirmala Sitharaman's Union Budget 2026 introduces major reforms including STT rate increases, capital gains tax on buybacks, MACT interest exemption, and the new Income Tax Act 2025 implementation from April 2026.
Budget 2026 Amnesty for Undisclosed Foreign Assets
Budget 2026 introduces FAST-DS scheme offering six-month window for taxpayers to declare undisclosed foreign assets with reduced penalties, providing relief from Black Money Act prosecution.
Cigarette Prices Jump ₹22-55 Per Pack After New Duties
Cigarette prices have increased significantly following new excise duties, with popular brands like Wills Navy Cut and Gold Flake Lights seeing hikes of ₹25-55 per pack. Distributors warn of smuggling risks and retail challenges.
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Budget 2026: PAN Replaces TAN for Non-Resident Property Deals
Union Budget 2026 proposes simplifying tax compliance for property transactions with non-resident sellers. Resident buyers can now deduct TDS using PAN instead of obtaining TAN, reducing paperwork and speeding up deals.
Budget 2026 Ends Tax-Free Status for Secondary SGB Buyers
Union Budget 2026 proposes key amendments to Sovereign Gold Bonds taxation, restricting capital gains exemptions to original subscribers only. Secondary market buyers will now face taxes, while other investment-related changes bring clarity to employer co
Cigarette Prices Jump with New Taxes, Internet Reacts
Smokers face sticker shock as cigarettes and tobacco products become more expensive following fresh tax changes effective February 1. The government has imposed additional excise duties and a health cess, sparking widespread reactions online.
Cigarette Prices Rise After New Excise Duty in India
Cigarette prices in India have increased significantly following the implementation of new excise duties, with premium packs now costing Rs 50-55 more. The tax overhaul aims to align with global health norms.
Budget 2026: TCS Rate Reduced to 2% for Overseas Expenses
Finance Minister Nirmala Sitharaman announces reduction in Tax Collected at Source (TCS) from 5%/20% to 2% for foreign education, medical treatment, and overseas tour packages under LRS.
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Budget 2026: Uniform 15.5% Tax Margin for Overseas Tech Firms in India
The Union Budget 2026-27 introduces a fixed 15.5% profit margin tax for IT services firms and GCCs, replacing multiple categories to reduce disputes and boost investment certainty in India's tech sector.
Budget 2026: No Income Tax Changes, New ITR Deadlines
The Union Budget 2026 maintains existing income tax slabs and rates while introducing new ITR filing deadlines. In sports, Carlos Alcaraz wins his first Australian Open title.
Budget 2026-27: No Tax Rate Changes, Compliance Simplified
Union Budget 2026-27 maintains income tax rates but introduces significant reforms: simplified filing forms, extended deadlines, rationalized penalties, and new immunity options for taxpayers.
Budget 2026-27: Tax Tweaks for Individuals
The Union Budget 2026-27 introduces several key measures impacting individual taxpayers, including STT hikes, TCS relief, compliance easing, and a foreign asset disclosure scheme.
Budget 2026: New Buyback Tax Rules Favor Retail Investors
Union Budget 2026-27 introduces capital gains tax treatment for buyback proceeds, reducing tax burden for non-promoter shareholders while imposing higher differential tax on promoters.
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Budget 2026: Income Tax Slabs Remain Unchanged
Union Budget 2026 maintains existing income tax slabs. Detailed comparison of new vs old tax regimes for FY 2026-27, including rates, benefits, and which regime suits different income levels.
Budget 2026: Crypto Reporting Penalties Proposed
Finance Minister Nirmala Sitharaman proposes penalties for non-compliance in cryptocurrency asset reporting under new Income-Tax Act Section 509, effective April 1, 2026.
Budget 2026: Tax Immunity for Small Foreign Assets
Finance Minister Nirmala Sitharaman announced immunity for undisclosed foreign assets under ₹20 lakh, TCS cuts for foreign tours, and implementation of Income Tax Act 2025 from April 1, 2026.
Direct & Indirect Taxes to Yield 64 Paise per Rupee
Union Budget documents reveal that direct and indirect taxes are projected to contribute 64 paise of every rupee in government revenue, highlighting the fiscal reliance on taxation.
Budget 2026-27: NRI Property & Equity Rules Simplified
Union Budget 2026-27 introduces key reforms for NRIs and overseas individuals, simplifying property transaction compliance and expanding direct investment in Indian equity markets through enhanced Portfolio Investment Scheme limits.
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Budget 2026: No TAN for NRI Property Deals from Oct 2026
Union Budget FY27 proposes eliminating TAN requirement for residents buying property from NRIs, simplifying transactions through PAN-based challan system from October 2026.
Budget 2026 Simplifies TDS for NRI Property Purchase
Union Budget 2026 introduces major simplification for resident Indians buying property from NRIs. Finance Minister Nirmala Sitharaman proposes allowing TDS payment through resident PAN, eliminating complex TAN requirement.
Budget 2026: Customs Reforms for Manufacturing & Export Push
Finance Minister Nirmala Sitharaman announces sweeping customs and excise reforms in Union Budget 2026-27 to simplify tariffs, boost domestic manufacturing, enhance export competitiveness, and ease cost of living.
Budget 2026: Buyback Tax Shift to Capital Gains
Union Finance Minister Nirmala Sitharaman's Budget 2026 proposes taxing share buyback proceeds as capital gains instead of dividends, aiming to curb tax arbitrage and ensure fairness in corporate profit distribution.
Budget 2026: Buyback Tax as Capital Gains, STT Hike Proposed
Finance Minister Nirmala Sitharaman's Union Budget 2026 proposes taxing buyback proceeds as capital gains for all shareholders and increasing Securities Transaction Tax on commodity futures to 0.05%.
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Budget 2026: Tax Sops Extended to Cooperative Societies
Finance Minister Nirmala Sitharaman announces tax deduction for inter-cooperative society dividend income under new regime in Union Budget 2026, boosting cooperative sector.
Budget 2026-27 Eases TCS on Overseas Remittances
Union Budget 2026-27 reduces Tax Collected at Source rates for education, medical treatment abroad, and overseas tour packages under RBI's LRS scheme, providing relief amid rupee depreciation.
Budget 2026: No Increase in Section 87A Tax Rebate
Union Budget 2026 keeps Section 87A tax rebate unchanged at Rs 60,000 for income up to Rs 12 lakh, disappointing taxpayers. Eligibility remains limited to resident individuals, excluding HUFs, NRIs, and certain income types.
Budget 2026: Income Tax Slabs Unchanged for FY 2026-27
Finance Minister Nirmala Sitharaman keeps income tax slabs unchanged for FY 2026-27 under both new and old regimes. No major tax relief as new Income Tax Act approaches.
Budget 2026: New Income Tax Act From April, No Slab Changes
Finance Minister Nirmala Sitharaman confirms India's new Income Tax Act takes effect April 1, 2026. Budget keeps slabs unchanged but introduces compliance reset, TCS norms, share buyback taxation changes, and special disclosure scheme.
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Budget 2026: Travel Cheaper, F&O Costlier, Tax Slabs Same
Finance Minister Nirmala Sitharaman's Union Budget 2026 reduces TCS on foreign travel & education, hikes STT on F&O trading, leaves income tax slabs unchanged, and introduces a foreign asset disclosure scheme.
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