01/02/2026
Highlights of Union Budget 2026*.
*General*
1. Indian residents living outside India can invest in equity via portfolio plan
2. FEMA will be reviewed
3. 3 New Institute of Ayushman Hub center
4. Loan linked subsidy for Veterinary Colleges
5. 5 University Townships in Corridor hubs
6. 5 regional medical hubs to promote medical tourism
7. One Girls hostel in every district
8. To promote tourism plan to promote 10,000 guides
9. 15 Archeological sites to be promoted into cultural destinations
10. New National Institute of Design in East
*Direct and Indirect tax*
1. New income tax Act from April 1, 2026
2. Income tax Rules and forms will be notified shortly
3. No change in Income tax Slabs. MAT reduced
4. TCS reduced to 2 % from 5% for education and health. TCS on foreign tours 2%
5. Scheme for Small Tax Payers. Time limit for revising return increased from December to March with nominal fee
6. Tax Holiday for cloud services till 2047to foreign companies that provide services to Indian customers
7. STT of futures (from 0.02% to 0.05%) and options raised
8. 6-month scheme for disclosing foreign assets and foreign income
9. Taxation of Buyback as capital gain on all category of shareholders
10. TDS on sale of property by NR slashed: No need to obtain TAN
11. BCD reduced/exempt on 17 cancer related drugs, parts of oven/microwave products etc.
12. Customs duty reduced on medical devises
For further clarification please read notification and circular throughly.
