The Union Budget 2026 has introduced several landmark changes that will significantly impact businesses across India. From revised corporate tax slabs to new compliance requirements, here is everything you need to know.
Key Corporate Tax Changes
The government has rationalised surcharge on domestic companies, bringing the effective tax rate closer to the global average. New provisions for startups and MSMEs provide additional relief with deferred tax payment options.
New Deductions & Exemptions
Fresh deductions have been introduced under Section 80C for green energy investments. SMEs with turnover below ₹5 crore now benefit from simplified ITR filing with a presumptive taxation option.
TDS & Compliance Updates
TDS thresholds have been revised across multiple categories. New digital compliance requirements mandate e-filing of certain certificates that were earlier submitted physically.
What Businesses Should Do Now
Review your advance tax schedules, update your accounting software for revised TDS rates, and consult your CA for restructuring opportunities that the new budget opens up.
Need Expert Guidance?
Our team of Chartered Accountants is ready to help you navigate these changes.
Contact SK & Associates ↗