Budget 2026-27 Proposes Sharp Cuts In TCS On Overseas Travel, Education And Medical Remittances

The Union Budget 2026–27 on Sunday also proposed significant reductions in tax collection at source (TCS) rates on overseas travel and certain foreign remittances. Presenting the direct tax proposals, Finance Minister Nirmala Sitharaman announced a cut in TCS on foreign tour packages. “I propose to reduce TCS rate on the sale of overseas tour programme packages from the current 5 per cent and 20 per cent to 2 per cent, without any stipulation of amount,” she said. The Finance Minister also...

Breaking: Interest On Motor Accident Compensation To Be Tax-Free Under Budget Proposal

Interest received on compensation awarded by Motor Accident Claims Tribunals may soon be taken out of the income-tax net. While presenting the Union Budget 2026–27, Finance Minister Nirmala Sitharaman announced a proposal to exempt such interest from tax and remove the requirement of tax deduction at source. “I propose that any interest awarded by the Motor Accident Claims Tribunal to a natural person will be exempt from income tax, and any TDS on this account will be done away with,”...

Union Budget 2026-27: Govt. Proposes Major Push To Promote Ayurveda

While presenting the Union Budget 2026 in the Parliament today, Finance Minister Nirmala Sitharaman has made announcements that are aimed at promotion of India's native healthcare system - Ayurveda and the AYUSH ecosystem, with a focus on infrastructure expansion, quality enhancement, and global integration As part of the initiative, three new All India Institutes of Ayurveda will be set up across the country. These institutes are aimed at boosting education, research, and clinical practice in...

Budget 2026–27 Proposes Allowing Individuals Resident Outside India To Invest In Listed Shares Through PIS

The Union Budget 2026–27 on Sunday proposed allowing individuals resident outside India to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme, while also raising the permissible holding limits.Presenting the budget, Finance Minister Nirmala Sitharaman said, “Individual persons resident outside India will be permitted to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme.” She announced an increase in...

Union Budget 2026-27 Proposes 'Corporate Mitras' To Support MSME Compliance

The Union Budget 2026–27 on Sunday proposed the creation of a cadre of trained paraprofessionals, referred to as “Corporate Mitras”, to support micro, small and medium enterprises in meeting compliance requirements.Presenting the Budget, Finance Minister Nirmala Sitharaman said, “The government will facilitate professional institutions such as the Institute of Chartered Accountants of India, Institute of Company Secretaries of India and Institute of Cost Accountants of India to design short-term...

Union Budget 2026-27 Today: LIVE UPDATES

Union Finance Minister Nirmala Sitharaman will present the Union Budget 2026–27 in Parliament at 11 am today, marking her ninth consecutive Budget and an unusual first for Sitharaman, with the annual fiscal exercise being tabled on a Sunday.Follow this page for live updates.

Economic Survey 2025-26: GST 2.0 Delivers Stable Revenue As Transactions Rise

The Economic Survey 2025–26 said GST revenues remained steady following rate rationalisation under the GST 2.0 framework.Gross GST collections during April to December 2025 stood at Rs 17.4 lakh crore, registering a year-on-year growth of 6.7 percent, the Survey noted. It added that GST revenue growth broadly tracked nominal GDP growth during the period. The Survey also pointed to strong transaction activity, with cumulative e-way bill generation rising 21 percent year-on-year during the same...

Economic Survey 2025–26 Signals Next Phase of Tax Reforms

The Economic Survey 2025–26, tabled by Union Finance Minister Nirmala Sitharaman on Thursday, sets out the government's next set of tax priorities, with the emphasis on simplification, greater consistency, and cleaning up remaining issues across the tax system. On the direct tax side, the Survey notes that the Income Tax Act, 2025, will come into force on April 1, 2026, and apply from the tax year 2026–27. Alongside this, the Survey points to efforts to rationalise the tax treatment of...

Economic Survey 2025-26: IBC Delivers Higher Recoveries Over Earlier Regime Despite Delays

The Economic Survey 2025–26 has found that India's insolvency framework is delivering better returns to creditors than the system it replaced. At the same time, long delays continue to weigh on the resolution of stressed companies. The Survey notes that average recovery rates under the Insolvency and Bankruptcy Code are now around 30%. This is a clear improvement over the 15 to 20% recoveries seen under the pre-IBC regime. It reflects a structural shift in how insolvency is handled in the...

'Godaan' Movie To Be Tax-Free In Chhattisgarh, CM Unveils Trailer

Chhattisgarh Chief Minister Vishnu Deo Sai on Tuesday announced that Godaan, described as the first feature film centered on the cow, will be made tax-free in the state. The announcement was made while he unveiled the trailer of the film at the Chief Minister's residence office in Raipur. In a statement issued on X, the Chhattisgarh Chief Minister's Office congratulated the makers and cast of Godaan and said the state government remained committed to the protection and promotion of cattle. The...

US Class Action Lawsuit Alleges WhatsApp, Meta Can Access Encrypted Messages

A class action lawsuit filed recently in a US federal court in California accuses Meta Platforms Inc. and its subsidiary WhatsApp LLC of misleading users worldwide about the privacy of their messages. The case focuses on WhatsApp's repeated promise that messages sent on the platform are protected by end-to-end encryption and cannot be accessed by anyone other than the sender and the recipient, not even WhatsApp or Meta. The plaintiffs say that promise is false. According to the complaint,...

SEBI Notifies 2026 Amendment Regulations Defining 'Retail Individual Investors'

On 20 January, the Securities and Exchange Board of India (SEBI) notified the SEBI Issue and Listing of Non-Convertible Securities (Amendment) Regulations, 2026, to formally define “retail individual investors” and allow issuers to offer incentives to such investors in debt issuances. The amendment introduces a new definition into the 2021 regulations, classifying a retail individual investor as an individual who applies or bids for debt securities for a value of not more than Rs. 2 lakh. SEBI...