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03 February 2026

India releases 2026/27 budget proposals impacting individual taxpayers

The Finance Minister of India presented the Finance Bill for the fiscal year 2026/27 (Bill) in the Indian Parliament on 1 February 2026, proposing changes to tax laws, effective from 1 April 2026 (unless specifically mentioned otherwise). The provisions of the Bill will not become law until approved by both houses of the Indian Parliament and receive assent from the President of India. Once approved, the provisions will apply for the 2026/27 Indian fiscal year (1 April 2026 to 31 March 2027), unless specified otherwise.

A Tax Alert prepared by EY's People Advisory Services, and attached below, provides additional details.

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Attachment

Full text of Tax Alert

Document ID: 2026-0335

 

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