India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
In the 15 Union Budget presentation days of the Narendra Modi government since it came to power in 2014, the BSE benchmark Sensex has ended in negative territory eight times.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
All services on the income-tax e-filing portal -- both pre-login and post-login -- are expected to be updated by April 1 to reflect the new legal framework.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
Shares of brokerage-related companies nosedived 18 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed raising securities transaction tax on commodity futures to 0.05 per cent from 0.02 per cent in the Union Budget 2026-27.
'When markets go into a budget with excessive optimism, the risk of disappointment is higher.'
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
The Central Board of Indirect Taxes and Customs (CBIC) has eliminated the Rs 10 lakh value cap per consignment for courier-based commercial exports, effective April 1, aiming to significantly boost e-commerce shipments, particularly for MSMEs and artisans.
'We believe the truth is in the middle, and that India is at an important crossroads.'
The market capitalisation of BSE-listed companies eroded by Rs 9,40,581.75 crore to Rs 4,50,61,658.60 crore (USD 4.90 trillion) in a single day.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
Restoring weighted tax deductions and adopting a petty patents regime can foster firm-level innovative activity critical for competitiveness, points out Nagesh Kumar.
The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts.
Elevated global crude oil and natural gas prices, driven by geopolitical developments in West Asia, could significantly influence the Government of India's fiscal position for 2026-27, according to a report by ratings agency Icra.
The tax is collected by brokers on behalf of the government and forms a key component of the Centre's tax revenues.
The Indian Rice Exporter's Federation (IREF) on Tuesday urged the government to provide tax incentives, interest subvention and freight support in the upcoming 2026 Budget to strengthen the sector's competitiveness while addressing sustainability concerns.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
The Centre is considering amendments to the Recovery of Debt and Bankruptcy Act in the Budget to allow some Debt Recovery Tribunals to focus only on high-value cases.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
The best course for the government at this time would be to tighten the seat belt a little more, without compromising on its investments in creating better infrastructure and giving a push to privatisation, points out A K Bhattacharya.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
The purge in Washington does not pause the war. Strikes continue, Hormuz remains closed, and Brent crude is still dancing around $109 a barrel. For India, the command chaos in the Pentagon is another layer of uncertainty piled on five weeks of conflict that was already straining every buffer Delhi has.
Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-2027 Union Budget, points out A K Bhattacharya.
How does the Union Budget 2024-25 impact taxpayers, investors and traders?
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
Finance Minister Nirmala Sitharaman on Sunday proposed to exempt Minimum Alternate Tax (MAT) for non-residents who pay tax on presumptive basis.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
Prime Minister Narendra Modi is promoting India as a global hub for digital infrastructure and artificial intelligence, highlighting the government's incentives for data center investments and inviting the world's data to reside in India.
Net direct tax collection grew 8 per cent to over Rs 17.04 lakh crore this fiscal till December 17 on slower refunds and higher advance taxes from corporates, the income tax department data showed on Friday.
On Agri Stack, Expenditure Secy V Vualnam says it's progressing well; using IT, farmers will be able to choose exact fertiliser quantities needed, reducing crowding at fertiliser outlets.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
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