Presenting her ninth consecutive Union Budget 2026, Finance Minister Nirmala Sitharaman today said that the Budget for the next fiscal year is driven by Yuvashakti and based on three kartavyas. Key announcements included a surprising hike in STT on futures and options, capital expenditure to Rs 12 lakh crore, no changes in personal income tax, revision in TDS and TCS rules, fresh incentives for MSMEs, rare-earth corridors, high-speed rail projects and a major tourism and infrastructure expansion plan.Budget Highlights 2026: Key AnnouncementHere are the highlights of the Union Budget 2026-27 presented by Nirmala Sitharaman.For Taxpayers : No change in Income Tax ratesNew Income Tax Act, 2025, to be implemented from April 1; rules, forms to come soonITR filing date for non-audit businesses extended by a month till August 31For filing of tax returns, individuals with ITR 1 and ITR 2 returns will continue to file till 31 July and non-audit business cases or trusts are proposed to be allowed time till 31 August.Revised returns: Deadline extended to March 31, with a nominal fee.On TaxesTCS on sale of overseas tour packages slashed to 2 pcTCS on overseas education, medical expenses under LRS (Liberalised Remittance Scheme) cut to 2 pcInterest awarded by Motor Accident Claims Tribunal to be fully exempt from income tax.Rationalisation of TCS on goods: Alcoholic liquor, scrap, and mineral products: 2%; Tendu leaves: reduced from 5% to 2%For marketsSecurities Transaction Tax (STT) on futures hiked to 0.05% from 0.02%STT on Options Premium to be increased from 0.10% to 0.15%No change in STCG & LTCG capital gains tax.For NRIsTDS on the sale of immovable property by the NRI to be deductedForeign investment disclosure scheme announcedPerson of Indian Origin (PIO) permitted to invest in equity instruments, listed indian companies through Portfolio Investment SchemeFor RailwaysFM proposes seven high-speed, one dedicated freight corridors in Union BudgetHigh-speed rail corridors will link India’s financial hubs, technology centres, manufacturing clusters, and emerging cities namely - 1. Mumbai-Pune, Pune- Hyderabad, Hyderabad- Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi, and Varanasi -Siliguri. For InfraNew freight corridor in Dankuni, West Bengal.20 new waterways to be operationalisedCoastal Cargo Promotion Scheme to double modal share by 2047.EducationGovt announces setting up of one girls' hostel in every districtBudget proposes to support of Indian Institute of Creative Technologies Mumbai for setting up content labs in 15,000 secondary schoolsSitharaman also announced that a new National Institute of Design will be established in Eastern India through a challenge-based route.Budget outlined plans to support states in developing five university townships near major industrial  ..For HealthcareFinance Minister announced the exemption of basic customs duty on 17 cancer-related drugs and medicinesGovt to strengthen emergency and trauma care facilities nationwide by establishing emergency and trauma care centres at district hospitalsGovt plans to establish NIMHANS 2.0, a premier mental health institute in North India, to address gaps in mental health infrastructure.Seven additional rare diseases would be added to the list of diseases eligible for exemption from import duty on personal imports of drugs, medicines, and food intended for special medical purposes.Semiconductors & Critical MineralsISM 2.0 semiconductor mission launched with ?40,000 crore outlay.Rare earth corridors announced for Kerala, Tamil Nadu, Odisha, Andhra Pradesh. .......For more please  Read at:https://economictimes.indiatimes.com/news/economy/policy/budget-2026-highlights-nirmala-sitharaman-budget-speech-announcement-income-tax-middle-class-fiscal-deficit-jobs-subsidy-defence-tariff-msp-agri-trains-in-union-budget-2026-27/articleshow/127831266.cms (ICE MUMBAI)

Fonte notizia: The Economic Times