Business

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed duty-free imports of certain specified inputs for promoting the country's exports of leather. The move will help provide a cushion to leather exporters who are reeling under the steep 50 per cent US tariffs. The country's leather...

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed to set up three new All India Institutes of Ayurveda to strengthen research in traditional medicines. Presenting the Union Budget 2025-26 in the Lok Sabha, the finance minister said Ayurveda gained global acceptance and recognition after the...

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed tax holiday till 2047 for foreign companies that provide cloud services to customers worldwide by using data centres in the country. The tax holiday will be extended to the entities concerned, subject to certain conditions. In the...

New Delhi: Finance Minister Nirmala Sitharaman Sunday said buyback proceeds for all types of shareholders will be taxed as capital gains. Presenting the Union Budget for 2026-27, Sitharaman also proposed to raise Securities Transaction Tax to 0.05 per cent on commodity futures from 0.02 per...

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIs as she presented the Union Budget 2026-27. She said there will be no interest liability on taxpayers on the penalty amount...

New Delhi: Finance Minister Nirmala Sitharaman Sunday said the government expects the fiscal deficit to be at 4.3 per cent of the GDP in 2026-27, lower than 4.4 per cent projected for the current financial year. In her 2026-27 Budget speech, Sitharaman also said the...

New Delhi: Finance Minister Nirmala Sitharaman Sunday said the Income Tax Act, 2025 will be implemented from April 1 and rules and tax returns forms will be notified shortly. Beginning April 1, the Income Tax Act, 2025, will come into force, replacing the six-decade-old tax...

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed to increase time limit for filing revised income tax (I-T) return from December 31 to March 31, on payment of nominal fee. The government also proposed a reduction in TCS rate for pursuing education and medical education...

New Delhi: Finance Minister Nirmala Sitharaman Sunday proposed seven high-speed corridors among various cities and a new dedicated freight corridor between Dankuni in West Bengal and Surat in Gujarat in the Union Budget for 2026-27. "In order to promote an environmentally-sustainable passenger system, we will...

New Delhi: The government has proposed to lower debt-to-GDP ratio to 55.6 per cent in FY27, from 56.1 per cent in the current fiscal year, Finance Minister Nirmala Sitharaman said Sunday. Presenting the Union Budget 2026-27, she said the Centre has allocated Rs 5,000 crore...