Post Budget 2026: Parizad Sirwalla, Partner and Head, Global Mobility Services- Tax, KPMG in India

By Parizad Sirwalla, Partner and Head, Global Mobility Services- Tax, KPMG in India

 A continuity Budget focused on ease of doing business and compliance reforms!!

 Budget 2026 emphasises a compliance‑friendly, trust‑enhancing tax framework over rate cuts. A highlights being decriminalizing minor offences, enhancing voluntary disclosures, extending revised return deadlines, TCS / TDS rationalisation, and encouraging deeper market participation by PROI. Revamp of the buyback‑tax framework and the rise in STT on futures and options will influence investor behaviour.

 The efforts made to rationalise the dispute resolution mechanism and the amnesty scheme towards voluntary disclosure of overseas income/ assets will help build a trust-based framework and relief in case of minor and inadvertent non-disclosures. The reduction of TCS rates will ease the cash flow stress on remittances for overseas tours, medical and education expenditure abroad.

 The Budget also promises simplified forms under the new Income Tax Act. 

 However, overall, the focus is on stability, continuity and certainty of the tax regime.