TARIFF RATE ON ALL DUTIABLE GOODS IMPORTED FOR PERSONAL USE TO BE REDUCED FROM 20% TO 10% BASIC CUSTOMS DUTY TO BE EXEMPTED ON 17 DRUGS OR MEDICINES FOR PATIENTS, PARTICULARLY CANCER-PATIENTS SEVEN MORE RARE DISEASES TO BE ADDED FOR THE PURPOSES OF EXEMPTING IMPORT DUTIES ON PERSONAL IMPORTS OF DRUGS AND FSMP DUTY DEFERRAL … Read More »
BIOPHARMA SHAKTI (STRATEGY FOR HEALTHCARE ADVANCEMENT THROUGH KNOWLEDGE, TECHNOLOGY AND INNOVATION) PROPOSED IN THE UNION BBUDGET 2026-27 EXISTING ALLIED HEALTH PROFESSIONALS (AHPs) INSTITUTIONS TO BE UPGRADED AND 100,000 NEW AHPs TO BE ADDED OVER THE NEXT 5 YEARS CARE ECOSYSTEM FOR GERIATRIC AND ALLIED CARE SERVICES TO BE BUILT, 1.5 LAKH CAREGIVERS TO BE TRAINED… Read More »
BUDGET PROPOSALS FOR CUSTOMS AND CENTRAL EXCISE AIM TO FURTHER SIMPLIFY TARIFF STRUCTURE, SUPPORT DOMESTIC MANUFACTURING: UNION FINANCE MINISTER UNION BUDGET 2026-27 PROPOSES SEVERAL BASIC CUSTOMS DUTY EXEMPTIONS TO ENSURE ENERGY TRANSITION AND SECURITY BCD EXEMPTIONS PROPOSED FOR MANUFACTURE AND MRO REQUIREMENTS IN CIVIL AND DEFENCE AVIATION BUDGET PROPOSES FACILITATING SALES BY ELIGIBLE MANUFACTURING UNITS… Read More »
Union Budget 2026-27 lays emphasis on Scaling up manufacturing in 7 strategic and frontier sectors To develop India as a global Biopharma manufacturing hub, the Budget proposes Biopharma SHAKTI with an outlay of ₹ 10,000 crores over next 5 years India Semiconductor Mission 2.0 announced to produce equipment and materials, design full-stack Indian IP, and… Read More »
UNION BUDGET 2026-27 FOCUSES ON 3 KARTAVYAS OF SUSTAINABLE ECONOMIC GROWTH, CAPACITY BUILDING AND SABKA SATH, SABKA VIKAS BUDGET 2026-27 IS A UNIQUE YUVA SHAKTI-DRIVEN BUDGET: FINANCE MINISTER Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman while presenting the Union Budget 2026-2027 in Parliament today, proposed 3 kartavyas to speed-up the reform momentum… Read More »
Exemption on interest income under the Motor Vehicles Act, 1988 Exiting section 11 of the Income-tax Act, 2025 inter alia provides for the exemption of income of persons included in Schedule III subject to the fulfilment of conditions specified therein. 2. The provisions of Motor Vehicles Act, 1988 inter alia provides for compensation and interest… Read More »
HIGHLIGHTS OF UNION BUDGET 2026-27 PART-A Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Union Budget 2026-27 in the parliament today. The highlights of the budget are as follows: The first Budget prepared in Kartavya Bhawan, is inspired by 3 kartavyas: First kartavya is to accelerate and sustain economic growth, by… Read More »
SUMMARY OF UNION BUDGET 2026-27 YUVA SHAKTI-DRIVEN BUDGET EMPHASIZES ON GOVERNMENT’S ‘SANKALP’ TO FOCUS ON POOR, UNDERPRIVILEGED AND THE DISADVANTAGED FIRST BUDGET PREPARED IN KARTAVYA BHAWAN INSPIRED BY 3 KARTAVYA FIRST KARTAVYA IS TO ACCELERATE AND SUSTAIN ECONOMIC GROWTH SECOND KARTAVYA IS TO FULFIL ASPIRATIONS OF PEOPLE AND BUILD THEIR CAPACITY THIRD KARTAVYA, ALIGNED WITH… Read More »
Rationalising the due date to credit employee contribution by the employer to claim such contribution as deduction Section 29 of the Act provides for deductions related to employee welfare. Clause (e)(i) of sub-section (1) of the said section provides for deduction of any amount of contribution received by the assessee being an employer, from an… Read More »
Memorandum Explaining the Provisions in the Finance Bill, 2026 Memorandum detailing the proposed legislative changes in the Finance Bill, 2026. It covers a wide range of topics, including: Direct Taxes: Proposed amendments to the Income-tax Act, 1961, and the Income-tax Act, 2025, including tax rates, surcharges, and various rationalization measures. Ease of Living: Initiatives like… Read More »