No tax cuts, FM tries to ease life for taxpayers in 2026 Budget

2026-02-01 - 21:45

The Finance Minister has eased tax burdens for citizens, particularly those with children studying abroad or seeking overseas medical treatment, by reducing the Tax Collected at Source (TCS) from 5% to 2%. This move also significantly lowers TCS on international tour packages, boosting outbound tourism by freeing up traveler liquidity and reducing upfront cash outlays.