Union Budget 2026-27 introduces major tax reforms
pre-market1 source ↓written by the desknot a recommendation
- effective
- 1 April 2026
- for scrap
- 2% TCS rate
- on LRS remittances
- 2% TCS
The Union Budget 2026-27, presented by Finance Minister Smt. Nirmala Sitharaman, introduces the Income Tax Act, 2025, effective from 1 April 2026. Key changes include a 2% TCS rate for scrap and minerals, and a 2% TCS on LRS remittances for education and medical treatment. These reforms aim to simplify tax compliance and enhance transparency.
Not investment advice. For informational purposes only.