Hi there! 
The Union Budget was presented on February 1st, and despite it being a Sunday, the markets were wide open to catch every word.
This year’s Budget went beyond big-picture policy and actually addressed some long-standing taxpayer frustrations. After years of tight filing deadlines, the government has eased up a bit, with changes to ITR filing due dates for non-audit businesses and a wider window to correct mistakes on your return.
However, it wasn’t all good news for everyone’s portfolio. If you’re active in the markets, there are three major shifts to watch: F&O trades will now attract higher STT, share buybacks will be taxed similarly to capital gains, and Sovereign Gold Bonds no longer offer the same generous tax exemptions for secondary market purchases.
We’ve handpicked threads on these updates in today’s edition.
TOP THREADS
What all changed in the Union Budget 2026?
The Union Budget 2026 delivered a mix of relief and stricter rules on the income-tax front. While taxpayers now get more time to file non-audit ITRs, investors face higher STT on F&O transactions. On the spending side, if you enjoy taking vacations abroad, tax collected at source (TCS) on tour packages has been reduced to…Continue Reading
How is the taxation on share buybacks changing from April 2026?
The FM said in Budget 2026 that share buybacks will be treated as a ‘sale’ rather than a ‘dividend’ from April 2026. This means lower taxes for retail investors, who, under the 2024 rules, often paid high taxes, even on the money they originally invested. But these rules are different for…Continue Reading
Are SGBs still tax-free at maturity after Budget 2026?
Sovereign gold bonds have long been a popular way for investors to make tax-free profits when the bonds mature. Budget 2026, however, has clarified that this benefit now applies only to original subscribers who buy…Continue Reading
Which ITR filing due dates have changed?
For the first time, filing deadlines now depend on your ITR form. ITR-1 and ITR-2 for salaried and simple cases remain at July 31st, while ITR-3 and ITR-4 for non-audit businesses and professionals have been changed to…Continue Reading
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FAQs
​What will be the tax rate on share buybacks after April 2026?
From April 1, 2026, share buybacks will be taxed as capital gains, not dividends. This means you’ll pay tax only on your actual profit (buyback price minus purchase price). If you held shares for over 12 months, gains are taxed at 12.5% (with ₹1.25 lakh exemption), and if held for less than 12 months, gains are taxed at 20%.
What is the penalty if I miss the Tax Audit Report deadline?
Budget 2026 has introduced a strict, graded fee for audit delays. Missing the September 30th deadline by even a day will cost a fee of ₹75,000. If the delay exceeds one month (after October 31st), the penalty doubles to ₹1.50 lakh.
Is it cheaper to book an international holiday now?
Yes, TCS on overseas tour packages has been reduced from 5% (or 20% for large bookings) to a flat 2%, regardless of how small or big the booking is. This change means less of your money is blocked in taxes when you book your trip.
RESULTS FROM LAST DIGEST
What is the tax rate applicable on long term capital gains from silver investment?
A) 10% (11%)
B) 20% (0%)
C) 12.5% (72%) 
D) Slab rate (17%)
72% of people chose the right answer. Well done!