TCS Rates reduced on foreign travel and foreign education from 5-20% to 2%, keeping in mind Millions of Indians travelling abroad.

Deadline for filing ITR-1 and ITR-2 will continue to be July 31

FM introduces 6 month foreign asset disclosure scheme for tax payers.

FM announces a comprehensive review of the income Tax Act 1961. This was completed in the record time and the income tax Act 2025 will come into effect from April 2026. The simple income tax forms will be notified shortly.

Misreporting of income will attract a penalty equal to 100% of the tax amount.

At present, there is no penalty for non-disclosure of non immovable property, but this will now attract a penalty

FM proposes to allow inter cooperative society dividend income as deduction under the new tax regime, to the extent it is further distributed to its members.

#Budget2026

IT/ITES/Contract R&D proposed to be clubbed under 15.5% Safe Harbour, increased safe harbour limit from ₹300 cr to ₹2,000 cr for #IT services

I propose to provide tax holiday till 2047 to any foreign company that provides cloud services, provided they service Indian customers: FM Sitharaman. #Tech #Economy #Policy #Budget2026

6 Months Foreign Assets Declaration Scheme for Taxpayers who did not disclose their incomes and assets before

Those who did not declare any foreign assets/income and paid no taxes, can declare up to 1 Crore Assets/Income and immunity can be gained by paying 30% Tax

Those who paid taxes but didn't declare, can pay 1 Lakh Rupees and gain full immunity #Budget2026

STT raised on F&O trading:
STT on Futures raised to 0.05%
STT on Options raised to 0.15%

F&O market crashing already after this news #Budget2026

In the Indirect Tax measures, FM Smt. N Sitharaman proposed basic customs duty and central excise duty reforms to energy transition and security. #Budget2026

To rationalise the customs duty structure for goods imported for personal use, Union Finance Minister proposed to reduction in tariff rate, exemption in basic customs duty and import duties to promote Ease of Living. #Budget2026

N. Sitharaman's speech on #Budget2026 ends.

Your thoughts?

The most import figure all must be looking for.

Capital Outlay for #Defence is Rs. 2,19,306.47 crores for FY 26-27

Its increase of almost 22% over 1,80,000 crores for BE 25-26 and 18% over 1,86,454.2 crores for RE 25-26

Total defence budget at 7.84 lakh cr
#Budget2026

No allocation for Chabahar Port in Indian Budget, says Indian Budget documents

#Budget2026 #Geopolitics

India slashes development aid to backstabber Bangladesh by 50%

From 120cr to 60cr #Budget2026

Indian Budget allocation for the Neighborhood (in Cr):

Bhutan: Rs 2288.55
Afghanistan: Rs 150 (🔼Rs 50)
Bangladesh: Rs 60 (⬇️Rs 60)
Nepal: Rs 800 (🔼Rs 100)
Sri Lanka: Rs400 (🔼Rs 100)
Maldives: Rs 550 (⬇️Rs 50)
Mauritius: Rs 550 (🔼Rs 50)
Myanmar: Rs 300 (⬇️Rs 50)
Mongolia: Rs 25 (🔼Rs 20)
Seychelles: Rs 19

#ForeignPolicy #Budget2026

The Capital Budget of Intelligence Bureau has a massive increase from 3893 crores last year to 6783 crores. #Budget2026 #NationalSecurity

🚨 Tax-free status of Sovereign Gold Bonds (SGB) has been removed in #Budget2026.

➡️ If you bought SGBs from the secondary market (through brokers like Zerodha, Groww etc.), you will have to pay capital gains tax, even if holding till maturity.

➡️ If you bought directly from the RBI, during the original subscription period & hold till maturity, then only it will remain tax-free.

SGB is a massive headache for Govt, looks like they're trying to reduce their losses. #Economy #Policy

First made-for-Air India B787-9 takes off for Frankfurt from Mumbai #Aviation

📍Resources Transferred to States and UTs (₹ in lakh crore) 👇
#Budget2026

🚆Railway Budget at a Glance 👇
#Budget2026

📍Trend in CapEx (₹ in lakh crore) 👇
#Budget2026

INDIA ON TRACK TO REACH DEBT-TO-GDP RATIO OF 50±1 PERCENT BY 2030-31

☑️Fiscal Deficit to remain at 4.4 percent of GDP as per RE 2025-26

☑️Fiscal deficit estimated to be 4.3 percent of GDP in be 2026-27

☑️Capital Expenditure stands at 11 lakh crore of total expenditure of 49.6 lakh crore as per re 2025-26

☑️Centre’s Net Tax Receipts to touch 26.7 lakh crore

#Economy