BENGALURU: The Centre has proposed ending a long-standing tax uncertainty for Indian units of overseas tech services firms and global capability centres (GCCs) by setting a uniform profit margin for taxing their IT services in the country. In the Union Budget for 2026-27 presented on Sunday, finance minister Nirmala Sitharaman said a fixed tax will…
The Union government has proposed two targeted initiatives—Divyangjan Kaushal Yojana and Divyang Sahara Yojana—aimed at expanding dignified livelihood opportunities and improving access to assistive technology for persons with disabilities (Divyangjans). Under the Divyangjan Kaushal Yojana, the focus will be on skill development in sectors such as information technology (IT), animation, visual effects, gaming and comics…
Through changes to assessment and penalty procedures, alongside selective exemptions and relaxed safe harbour norms, the government is seeking to make the tax system less adversarial and more predictable—both for individuals and for multinational companies operating in India, a senior government official said on Monday. The official, who spoke on condition of anonymity, said the…
Experts say that this shift could significantly alter how exporters access state support in an increasingly volatile global trade environment. The budget documents show that older interest subsidy schemes have been phased out, while funding is being redirected towards export insurance, trade enforcement and streamlined export support programmes. The move suggests that the Centre no…
Mint Explainer | AI mentioned 11 times, but budget cut: Decoding India’s evolving stance on artificial intelligence ₹1,000 crore, signaling a cautious stance on AI development. Despite FM Sitharaman’s emphasis on AI’s potential, the government focuses on sector-specific applications rather than large-scale investments, reflecting changing priorities in the AI landscape.”/> …
New Delhi: India is planning a major expansion of its air and water quality monitoring infrastructure as environmental pollution emerges as a growing public health concern. The government has proposed a financial outlay of ₹1,091 crore in the budget for 2026-27 to strengthen monitoring and implementation of pollution control measures across the air, water and…
The Prime Minister’s Internship Scheme (PMIS), one of the Modi government’s flagship initiatives aimed at boosting youth skilling and employability, has faced a sharp funding cut in the FY27 Union Budget presented on Sunday. The scheme was allocated ₹4,799.96 crore for FY27, less than half of the over ₹10,000 crore earmarked for it in FY26,…
Govt’s ₹60k-cr extra telecom receipt aim dims Airtel’s AGR relief chance ₹60,000 crore is going to come from for the communications ministry, as it has already shown an earning of about ₹80,000 crore as of December end from sources such as licence fee from private telecom operators.”/> …
The STT on futures was increased in Budget 2026 by 150% to 0.05% and that on options by 50% to 0.15%. However, the STT on futures has a bigger impact because it is calculated on the notional or total contract turnover. In options, the tax is calculated on the premium turnover, which is the actual…
The new Union budget presented by Nirmala Sitharaman on Sunday was crafted against a set of unique circumstances that have emerged in an increasingly turbulent world over the past year. First, in a profound change in fiscal strategy, the finance minister had announced a year ago that she would aim to bring down the burden…
