Highlights of Union Budget 2026-27: Direct Tax Reforms for Ease of Living
The Union Budget 2026-27, announced by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, introduces several direct tax reforms aimed at boosting the ease of living. These include tax exemptions on interest awarded by the Motor Accident Claims Tribunal, reduced TCS rates on overseas tour packages, and a new automated process for small taxpayers to obtain lower deduction certificates. Additionally, it introduces a one-time foreign asset disclosure scheme to benefit small taxpayers like students and tech employees.
Source: Original Link