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budget 2026

Budget 2026 Sitharaman offers big MAT relief to non residents on presumptive taxes

Budget 2026 Sitharaman offers big MAT relief to non residents on presumptive taxes

Union Budget 2026 proposals by Finance Minister Nirmala Sitharaman include exempting non residents paying tax under presumptive schemes from Minimum Alternate Tax. The safe harbour threshold for IT services will rise to Rs 2,000 crore, while TCS on liquor, scrap and minerals is cut to 2 percent. Safe harbour rules will also streamline accountant definitions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
TCS drops for overseas students but hidden forex fees still haunt travellers after April 1

TCS drops for overseas students but hidden forex fees still haunt travellers after April 1

India’s Budget 2026 cuts TCS on overseas remittances and tour packages, but travelers haven’t been fully freed from the cost maze. Starting April 1, the RBI requires complete fee disclosure for forex transactions, targeting decades of hidden charges and unfair exchange-rate practices. Still, the real test is whether disclosed totals become truly comparable across providers.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Budget 2026 extends tax holiday to supercharge GIFT City’s global finance appeal

Budget 2026 extends tax holiday to supercharge GIFT City’s global finance appeal

Budget 2026’s proposed tax holiday extension for GIFT City aims to make India’s IFSC more competitive globally. Analysts argue that tax certainty, along with rationalised dividend provisions, can improve investor confidence and encourage deeper onshoring. The move is expected to strengthen GIFT City’s ability to attract international finance business compared with rival centres.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2026 eases compliance burden for buyers of NRI property with PAN instead of TAN

Budget 2026 eases compliance burden for buyers of NRI property with PAN instead of TAN

Union Budget 2026-27 reduces paperwork for resident individuals and HUFs buying immovable property from NRIs. Starting October 1, buyers won’t need to obtain or use a TAN to deduct tax at source. Instead, TDS reporting will be done using the buyer’s PAN, streamlining the compliance process for such transactions.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2026 targets offshore trading as India doubles GIFT IFSC tax holiday

Budget 2026 targets offshore trading as India doubles GIFT IFSC tax holiday

Budget 2026 reshuffled India’s capital-market approach by raising the Securities Transaction Tax (STT) to curb speculative activity. At the same time, it doubled the GIFT IFSC tax holiday to 20 years, reinforcing a push for long-term global capital. The move also points toward India’s first offshore IPO pathway through the GIFT IFSC ecosystem.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2026 cuts overseas tour TCS to flat 2 percent slashing costs for Indian travellers

Budget 2026 cuts overseas tour TCS to flat 2 percent slashing costs for Indian travellers

Union Budget 2026 reduces Tax Collected at Source (TCS) for overseas tour packages, setting a flat 2% rate on international travel. The move lowers the prior TCS structure, which ranged from 5% to as high as 20%, making foreign trips more affordable for Indian citizens and easing the upfront tax burden.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Budget 2026 keeps crypto tax unchanged and traders are furious over missed reforms

Budget 2026 keeps crypto tax unchanged and traders are furious over missed reforms

Union Budget 2026 left crypto taxation largely unchanged, retaining a 1% TDS levy and the existing restrictions on setting off losses. The crypto industry has reacted with disappointment, arguing these measures continue to discourage investors and active traders. With reforms expected by many in the sector, today’s fiscal update has fallen short of what participants hoped for.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Budget 2026 revised ITR deadline to March 31 2026 but only from next assessment year

Budget 2026 revised ITR deadline to March 31 2026 but only from next assessment year

Budget 2026 reportedly pushes the revised Income Tax Return (ITR) deadline to March 31, 2026, but the benefit applies only starting Assessment Year 2026-27. For AY 2025-26, the extension is not available. Taxpayers can still file revised ITRs to correct mistakes, add missed income, or reflect changes in tax laws within a new 12-month window after the tax year ends.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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