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Sitharaman hits back at Trump's tariffs
Finance Minister Nirmala Sitharaman has proposed cutting the tariff on all dutiable goods imported for personal use from 20% to 10%, making imported items more affordable for individuals.
– Customs Duty exemption on raw materials imported for MRO
– Customs Duty exemption on 17 drugs related to cancer
– Basic Customs Duty exemption for specified parts used in manufacturing of microwave ovens
– To tax buybacks as capital gains for all category of shareholders
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Gopocket Live Updation (Budget 2026): Government to set up 1,000 clinical trial sites, launches Bharat Vistar and She Marts
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Gopocket Live Updation (Budget 2026): Rs 20,000 crore push for carbon capture technologies
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Gopocket Live Updation (Budget 2026): Big push for future-ready Infrastructure across India
Sitharaman outlined a series of major infrastructure initiatives aimed at building a future-ready Bharat and strengthening growth centres, especially in Tier II and Tier III cities with populations above 5 lakh.
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Gopocket Live Updation (Budget 2026): Budget 2026 announcements for IT sector
India is a global leader in software development, IT-enabled services, knowledge process outsourcing, and contract R&D. The government has decided to group all these under a single category called Information Technology Services.
A uniform safe harbour margin of 15.5% will now apply to all IT services. The threshold for using safe harbour has been raised from ₹300 crore to ₹2,000 crore.
Approvals for IT services under the safe harbour system will be handled through an automated, rule-based process, removing the need for manual review by tax officers.
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Gopocket Live Updation (Budget 2026): No interest for taxpayer on penalty during appeal
FM Sitharaman during her Budget 2026 speech announced that taxpayers will not have to pay any interest on penalty amounts while their case is under appeal before the first appellate authority, regardless of the outcome.
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