ARTICLE · 10 FEBRUARY 2026

Athena Legal Key Budget Highlights 2026

Athena Legal

Explore more from Athena Legal

The Union Budget 2026 has introduced several significant policy and regulatory changes that may impact businesses across various sectors. We highlight key elements of the budget which has implications on the businesses and the economy.

IndiaTax

Siddharth Mahajan

Bharat Sood

Author LinkedIn connections

The Union Budget 2026 has introduced several significant policy and regulatory changes that may impact businesses across various sectors. We highlight key elements of the budget which has implications on the businesses and the economy.

DIRECT TAXES

INCOME TAX
- The Income-tax Act, 1961 will be replaced with a new Income Tax Act, 2025 effective from 1^st April 2026, with simplified language, rationalised provisions, and reduced interpretational ambiguity. The Government shall be notifying the simplified Income Tax Rules and Forms accordingly.
EASE OF LIVING
- Reduction of TCS for sale of overseas tour program package from 5% and 20% to 2% without any stipulation of amount and for pursuing education and for medical purposes under the Liberalized Remittance Scheme (LRS) from 5% to 2%.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

ITAT Holds That Indirect Transfer Of Shares Are Subject To India-Ireland Treaty Protection

Aurtus Consulting LLP

India Notifies Protocol Amending The India–Mauritius Tax Treaty: Principal Purpose Test In Force From 10 August 2026

Aurtus Consulting LLP

Section 122(1A) Extends To Non-Taxable Persons, But Requires Proof Of Benefit And Causative Role; Provision Operates Prospectively – Delhi HC Read More

Aurtus Consulting LLP

Indirect Tax Alert – 57th GST Council Meeting

Aurtus Consulting LLP

Form 10-IEA Prevails Over An Inconsistent ITR Selection; Corresponding Old-regime Deductions Must Be Allowed

Aurtus Consulting LLP

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Tax

Comparative Guide

Tax Disputes

See more popular content from

TaxAthena Legal

GST On Legal Services & Advocate Fees Explained

Many people seek legal aid, but what about the charged GST? This article details the changes made to the Indian indirect taxation system regarding the GST on legal services.

How To Check & Track GST Application Status Using ARN?

Wondering about your GST application status? Learn how to check your GST ARN status and track approval, rejection, or pending updates easily.

How To File A GST Complaint Online: Step-By-Step Guide

Filing GST complaints and grievances online is a straightforward process designed to address issues related to GST registration, filing errors, or any disputes regarding the GST system.

How To Add Or Update Bank Account In GST Portal?

Learn how to add or update your bank account on the GST portal. Follow step-by-step instructions, comply with Rule 10A, and avoid GST registration issues.

How To Generate E-Way Bill Under GST: Process Explained

In today's fast-paced logistics and supply chain environment, ensuring the smooth movement of goods is critical. One key compliance requirement for businesses transporting goods...

C Form: Conditions, Timeline, Importance, and Consequences

A certificate, or C from, is required to conduct business between other states. It is given by the seller of the goods to the purchaser of the commodities to lower the tax rate. This article takes a close look at the C form.

Foreign Assets Of Small Taxpayers Disclosure Scheme, 2026

The Black Money Act of 2015 introduced stringent measures to tax undisclosed foreign income and assets held by resident taxpayers in India. What are the consequences for failing to report foreign income or assets, and how does this legislation impact tax compliance for individuals with international holdings?

Aurtus Consulting LLP

GST Registration For Branches In Multiple States

Learn about GST registration for branches in India. Understand the need for separate GST registration across states and the process involved. Get expert assistance!

Minimum Alternate Tax (MAT) Amendments In Union Budget 2026 – A Critical Analysis

Minimum Alternate Tax (MAT)1 has worked as a minimum tax protection in India's corporate tax system.

Nexdigm Private Limited

Direct Tax Newsletter - Sep - Oct 2026

The CBDT, through its press release dated 28 September 2026, has extended the due date for furnishing the Return of Income for Assessment Year 2026-27 in the case of persons covered under the specified category in the table to Explanation 2 to section 139(1) of the Income-tax Act, 1961, i.e. persons whose accounts are subject to audit under the Act. The original due date for furnishing the return was 31 October 2026. The CBDT has extended this date by 21 days, and the revised due date is 21 November 2026.

King, Stubb & Kasiva

Drone Law In India: Legal Framework And Regulatory Overview

Bharatiya Vayuyan Adhiniyam, 2024 (Act No. 16 of 2024) (the "BVA"), which replaced the Aircraft Act, 1934, along with the Drone Rules, 2021 ("Drone Rules"), as amended from time to time, provide the regulatory framework for drones in India.

Legal Framework Governing E-Waste Management In India

The E-Waste (Management) Rules, 2022 notified by the Ministry of Environment, Forest and Climate Change on November 2, 2022, and effective from April 1, 2023, represent a comprehensive regulatory framework for addressing India's growing electronic waste challenge.

IndiaEnvironment

Safe Harbour And AI: The 2026 Intermediary Guidelines Amendment

The Information Technology Act, 2000 empowers the Central Government under section 87 to frame rules governing intermediaries, including the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.

IndiaMedia, Telecoms, IT, Entertainment

Key Highlights Of The Digital Personal Data Protection Rules, 2025

India's Digital Personal Data Protection Act, 2023 ("Act") enacted in August 2023, has now been operationalized through the Digital Personal Data Protection Rules, 2025 ("Rules"), as notified on November 13, 2025.

Easing Of Press Note 3 FDI Restrictions

On March 10, 2026, the Government of India announced a significant recalibration of Foreign Direct Investment (FDI) policy governing investments from countries sharing a land border with India, namely, China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan (collectively, "LBC countries").

IndiaGovernment, Public Sector

Athena Legal Key Highlights On The Impact Of The New Labour Codes On The IT/ ITES & Services Sector

The Government of India's notification implementing the four Central Labour Codes, namely, the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 ...

IndiaEmployment and HR

Sexual Harassment Compliance In India: What Employers Commonly Overlook

"Having a POSH policy on paper is not enough—true compliance lies in sustained practice, not just written procedure."

IndiaEmployment and HR

Key Highlights Of The Draft Digital Personal Data Protection Rules, 2025

India enacted Digital Personal Data Protection Act, 2023 in August 2023. The Government of India throughMEITY released the draft Digital Personal Data Protection Rules, 2025 ("Draft Rules") for public consultation and comments ...

New Compliance Directive – She-Box Portal Mandatory For All Workplaces

With a view to prioritize the safety of women at the workplace, the Ministry of Women and Child Development, had introduced a significant regulatory initiative to strengthen the implementation of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

IndiaEmployment and HR

Athena Legal Key Budget Highlights 2025

The Union Budget 2025 has introduced several significant policy and regulatory changes that may impact businesses across various sectors.