Union Budget 2026: Taxpayers, Investors, Consumers — Who Gains, Who Hurts?
India’s Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman, balances growth, stability, and reforms with compliance-friendly measures and targeted tax adjustments. While it eases procedures for many, it tightens rules in key areas to boost revenues, affecting taxpayers, investors, consumers, and businesses differently. Taxpayer Gains Taxpayers benefit from extended
Retrospective clarifications on re-assessment and invalidation of tax orders.
The Indian Union Budget 2026 introduces retrospective clarifications, not amendments, to address conflicting court judgments on tax reassessment notices and assessment orders lacking a Document Identification Number (DIN). These apply to both corporates and individuals, impacting notices under section 148 from April 1, 2021, and DIN issues from October 1,
Income Tax Act 2025 Effective April 1, 2026: Major Compliance Simplification
The Income Tax Act, 2025, will come into effect from April 1, 2026, introducing simplified rules, redesigned forms, and direct tax relief measures to ease taxpayer compliance. These reforms reduce litigation, clarify ambiguities, and lower transaction costs for individuals and businesses. Key Relief Measures and Exemptions Motor Accident Claims Tribunal
