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Important tax, finance and business updates for 2026-27
Estimated Non-Debt Receipts
Estimated Total Expenditure
Fiscal Deficit Target
Union Budget 2026-27 estimates. Figures are government budget estimates, not final actual expenditure.
| Total Taxable Income | Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 to ₹8,00,000 | 5% |
| ₹8,00,001 to ₹12,00,000 | 10% |
| ₹12,00,001 to ₹16,00,000 | 15% |
| ₹16,00,001 to ₹20,00,000 | 20% |
| ₹20,00,001 to ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
These are slab rates under the new tax regime for AY 2026-27. A resident individual may qualify for a rebate on normal income up to ₹12 lakh, subject to eligibility and applicable rules. Special-rate income, surcharge and cess can affect the final tax. Taxable income and tax liability are not the same as gross salary.
The Income-tax Act, 2025 came into force on April 1, 2026. It reorganises and simplifies the legal framework and introduces updated rules and forms. Earlier tax years remain subject to the applicable transition provisions.
For eligible remittances under the Liberalised Remittance Scheme for education or medical treatment, the TCS rate was reduced from 5% to 2%, subject to the applicable threshold and conditions.
Budget 2026 proposed changes to the tax treatment of share buybacks and an increase in Securities Transaction Tax on futures and options. Investors should review the applicable rules and costs before trading.
During the transition to the new Act, filing requirements can differ depending on the tax year. Check the correct return form, due date and provisions for your particular income period before submitting a return.
Compare your estimated tax under both regimes using your actual income and eligible deductions. Consider:
Well-maintained records make it easier to assess cash flow, compliance and financing readiness.
Key points to review in a few minutes
Effective from April 1, 2026, with updated rules and forms.
₹10,000 crore fund announced for eligible growth-oriented SMEs.
₹12.2 lakh crore budgeted for public capital expenditure in FY 2026-27.
Not in every case. Under the new regime, an eligible resident individual may receive a rebate on normal income up to ₹12 lakh. Special-rate income and individual circumstances can change the result. Eligible salaried taxpayers may also have a standard deduction, subject to applicable rules.
Budget 2026 did not announce a change to individual income-tax slab rates. Always check the applicable tax year, regime, rebate eligibility and official updates before filing.
Review official scheme guidelines for eligibility, keep financial and statutory records up to date, and check whether any new notification applies to your business. A Budget announcement does not automatically mean every business qualifies for a benefit.
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General information only, not individual tax, legal or investment advice. Rules and eligibility can change. Verify the relevant notification and consult a qualified professional before acting.