Union Finance Minister Nirmala Sitharaman unveiled the Union Budget 2026 with a clear push toward higher capital expenditure while keeping personal income tax slabs unchanged. The Budget also offers targeted positives for NRIs, positioning the government’s roadmap around investment-led growth without altering tax brackets for individuals. The mix of capex momentum and stability in taxation is the standout takeaway.
For AY 2026-27, NRIs choosing the presumptive income scheme will need to make an extra disclosure in the new ITR forms: separate reporting of gross receipts and presumptive income. The update targets presumptive taxation provisions under Sections 44B, 44BB, 44BBA, 44BBC, and 44BBD, aiming to improve transparency and enable better matching with tax data.
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