Removal Of Basic Customs Duty Of 5-11% To Lower Prices Of 17 Expensive Treatments Prices of 17 expensive cancer medicines, including Ribociclib and Venetoclax, and of seven rare disease drugs, like primary hyperoxaluria and cystinosis, are expected to dip after removal of basic customs duty in the Budget. This would lead to lowering of landed…
In the Union Budget 2026, the Section 87A tax rebate, given in Income Tax,remain unchanged, disappointing taxpayers who had hoped for an increase to boost consumption and ease the burden on middle-income individuals. Thus, like for FY 2025-26, under the new tax regime, resident individuals with net taxable income up to Rs 12 lakh can…
Union finance minister Nirmala Sitharaman on Sunday announced a tax holiday till 2047 for foreign companies providing cloud services globally using data centres located in India, signalling a major push to strengthen the country’s digital infrastructure.Presenting the Union Budget for FY 2026-27 Sitharaman said, “I propose to provide tax holiday till 2047 to any foreign…
Union Budget 2026: Budget 2026 season is here and the banking sector heading ahead with a list of expectations, looking for targeted policy support to address credit constraints, employment pressures and regulatory challenges. According to Balasubramanian A, senior vice president at TeamLease Services, BFSI played a role in expanding formal employment in 2025, driven largely…
Even as India’s GDP growth has beaten forecasts so far this financial year – the big question is can it continue to grow well amidst the global economic storm? (AI image) India is the world’s fastest growing economy – with an over 6-7% GDP growth rate – the world’s fifth largest economy is driving global…
The standard deduction limit varies depending on the tax regime that salaried taxpayers opt for. (AI image) Budget 2026 income tax expectations: Standard deduction is seen as a much needed relief for taxpayers – it’s a simple, straightforward deduction from your gross income – a fixed amount that allows salaried taxpayers and pensioners to reduce…
India’s salaried class feels squeezed—not because they don’t want to pay taxes, but because the system increasingly treats retirement savings as a luxury. (AI image) For a country that prides itself on a thriving middle class, India’s tax treatment of retirement savings has begun to feel oddly out of step with economic reality. Over the…