New Delhi: The Union government has allocated ₹18,000 crore in the budget for FY27 for the revamped distribution sector scheme (RDSS) amid a renewed push to reform the power distribution sector. This is an increase from the ₹16,000 crore allocated for FY26, which was later revised to ₹15,671 crore. Mint earlier reported that the budget…
Finance Minister Nirmala Sitharaman delivered the Union Budget for 2026-27 on Sunday, 1 February. Marking her ninth consecutive budget speech, FM Sitharaman tabled a set of proposals in the Union Budget 2026, covering key sectors such as infrastructure, healthcare, education and various tax reforms. In the budget documents spanning over 200 pages, the government outlined…
In a major relief to taxpayers holding foreign assets, Budget 2026 has proposed a one-time six-month window for taxpayers to voluntarily declare any undisclosed foreign assets or foreign-sourced income and obtain amnesty from prosecution under the Black Money Act (BMA). Under tax laws, all foreign assets must be disclosed annually in the FA Schedule of…
To streamline the tax benefits of the Sovereign Gold Bond or SGBs, budget 2026 has proposed an amendment that restricts capital gains tax exemptions only to original subscribers. This change effectively ends the tax-free status for secondary buyers or those who purchase SGBs from the stock exchange or from other investors after the initial allotment….
NEW DELHI: The government on Sunday proposed creating a secondary market for MSME invoices by allowing these receivables to be packaged as asset-backed securities. This is among a slew of reforms to the Reserve Bank of India–run Trade Receivables Discounting System (TReDS). Presenting the Union Budget for 2026-27, finance minister Nirmala Sitharaman proposed to “introduce…
The Union budget has doubled the tax holiday for companies operating from the International Financial Services Centre (IFSC) in Gujarat and reduced the tax they have to pay after the break, bringing relief and tax certainty to entities operating from the global financial hub. Entities in IFSC can now enjoy tax-free operations for a total…
The Union Budget 2026–27 did not introduce any major changes to income tax rates, but rationalised penal provisions, eased the compliance burden, and simplified return filing through redesigned forms, following the enactment of the Income Tax Act, 2025. “The simplified Income Tax Rules and Forms will be notified shortly, giving adequate time to taxpayers to…
MUMBAI: Trekking trails in the Himalayas and the Ghats, archaeological sites such as the Indus Valley Civilisation excavations in Gujarat and Haryana, and Buddhist sites in the northeastern states are among the schemes that the government has proposed to promote thematic tourism. These projects will be developed under existing schemes of the ministry of tourism…
Union Budget 2026: Finance Minister Nirmala Sitharaman has proposed penalty provision for non-compliance in reporting of cryptocurrency assets in line with the new Income-Tax (I-T) Act scheduled to come into effect from 1 April. During her Budget speech, she noted, “To ensure compliance with the provisions of Section 509 of the Income-tax Act, 2025 and…
The Union Budget on Sunday announced the launch of an artificial intelligence (AI)-powered, multilingual platform, Bharat Vistaar, to provide region-specific and verified advisories to farmers. Presenting the budget for fiscal year 2026-27, finance minister Nirmala Sitharaman said that Bharat Vistaar, short for virtually integrated system to access agricultural resources, will integrate the government’s agri stack…
