Union Budget 2026: Confirmed Impact
Income Tax Slabs: No Change
Finance Bill 2026 confirms that **Income Tax Slabs for FY 2026-27 remain unchanged**. Focus has shifted to the implementation of the **Income Tax Act 2025** for long-term simplification.
Income Tax Slabs (FY 2026-27)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 - ₹7,00,000 | 5% |
| ₹7,00,001 - ₹10,00,000 | 10% |
| ₹10,00,001 - ₹12,00,000 | 15% |
| ₹12,00,001 - ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Hiked Standard Deduction
The standard deduction for salaried individuals has been increased to **₹75,000** (from ₹50,000) under the New Tax Regime.
Note: Tax rebates under Section 87A ensure Nil tax for income up to ₹7 Lakhs (plus standard deduction).
Macro-Economic Targets (2026-27)
What gets Cheaper
- • Mobile Parts & Modules (BCD 15% → 10%)
- • 17 Critical Cancer Drugs (BCD Exempt)
- • Overseas Tour Packages (TCS flat 2%)
- • Personal Courier Goods (BCD 20% → 10%)
What gets Costlier
- • STT hike on F&O Trading
- • Imported Luxury Watches
- • Non-Essential Plastic Imports
Budget Impact Simulator
Enter a base value to see the real-world tax savings.
Budget Pulse Poll
Which 2026 change helps your business most?
GST Legislative Summary
| Provision | Official Change | Business Benefit |
|---|---|---|
| Section 15 & 34 | Post-sale discount linkage removed. | Simplified credit notes. |
| Section 54 | 90% Refund for Inverted Duty. | Faster cash flow. |
| IGST Sec 13 | Intermediary PoS is Recipient location. | IT Export relief. |
The Feb 2 Action Plan
Review export contracts—the new 'Intermediary' logic may save you 18% GST.
Open PoS FinderSlabs are unchanged. Optimize deductions for the new FY starting April.
Compare RegimesBudget 2026: Frequently Asked Questions
Roadmap to April 2026
Budget Approval and passage of the Finance Bill 2026.
Drafting rules under the new Income Tax Act 2025.
New Acts, GST Amendments, and final Tax Slabs go Live.
Official Primary Resources
Verify all technical points against the official documents published by the Ministry of Finance.
Post-Budget Toolkit
Verify new rates and compliance changes immediately.