The release of the draft Income Tax Rules, 2026 has brought an unexpected twist to India’s tax reform journey. While the new rules aim to operationalise the New Income Tax Act, 2025 from April 1, 2026 and significantly simplify compliance, several provisions have quietly restored relevance to the old tax…
Tag: #TaxReforms
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Union Budget 2026–27: Focus on Stability, Capex and Jobs
Union Finance Minister Nirmala Sitharaman on Sunday presented the Union Budget 2026–27 in the Lok Sabha, marking her ninth consecutive Budget and the first time India’s annual Budget was tabled on a Sunday. The Budget signals a clear shift towards policy continuity, fiscal discipline and long-term economic resilience rather than…
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Budget 2026 Likely to Push New Tax Regime Further
As preparations for Union Budget 2026 gather momentum, India’s New Tax Regime has clearly emerged as the cornerstone of the government’s personal taxation strategy. Following the sweeping relief announced in Budget 2025, policymakers appear increasingly committed to nudging taxpayers toward a simpler, deduction-light tax structure. The sharp increase in the…
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Lok Sabha Speaker Praises GST, Women in Politics
Lok Sabha Speaker Shri Om Birla today emphasized that reforms in direct and indirect taxation, along with the “One Nation, One Tax” GST framework, have simplified and made India’s tax system more transparent, contributing significantly to national growth and prosperity. Speaking at the Parliament House Complex, he addressed Officer Trainees…
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GST Revenue Up 4.6% to ₹1.96T Despite Tax Cuts
India’s Goods and Services Tax (GST) collections grew 4.6% year-on-year to ₹1.96 trillion in October 2025, reflecting strong domestic demand despite the recent tax cuts announced by the GST Council. This moderate growth indicates resilience in consumption, especially during the festive season. Festive Demand Fuels Collection Growth The finance ministry…
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GST 2.0: PM Modi Launches Savings Festival with New Reforms
New Delhi, September 21, 2025 — Prime Minister Narendra Modi on Sunday announced the launch of what he called a “GST Savings Festival,” unveiling a sweeping reform of the Goods and Services Tax (GST). The reforms, effective from September 22, 2025, simplify the indirect tax structure into two primary slabs…
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GST on Drones Cut to 5% to Boost India’s Tech Growth
In a major reform under India’s Goods and Services Tax (GST) framework, the government has slashed the GST rate on drones to a uniform 5%. The decision, taken at the 56th GST Council meeting, is expected to give a strong push to the country’s fast-growing drone industry while easing costs…