Budget 2026: FM Sitharaman Unveils Tax Reliefs To Spur Manufacturing & Investment, Boost IT Sector

Описание: In Union Budget 2026, Finance Minister Nirmala Sitharaman announced several tax reforms to boost co-operatives, IT services, and foreign investment. Deductions for primary co-operative societies will now include cattle feed and cotton seed, and inter-co-operative society dividend income will also be deductible under the new tax regime. IT services companies can avail safe harbour approval automatically for five years. To attract global business, foreign companies providing cloud services from India will get a tax holiday till 2047, with a 15% safe harbour on related entity costs. Exemption from MAT is proposed for non-residents paying tax on a presumptive basis. Additionally, non-residents supplying capital goods to tall manufacturers in bonded zones will get five-year income tax exemptions to promote manufacturing in India.

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