India, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday proposed a series of tax rationalisation measures aimed at easing compliance and improving the business environment.
Presenting the Union Budget 2026–27, she announced that Minimum Alternate Tax (MAT) will be exempted for non-residents who opt to pay tax under the presumptive taxation regime, providing relief to foreign entities operating in India.
The government also proposed to enhance the safe harbour threshold for IT services significantly, from Rs 300 crore to Rs 2,000 crore, offering greater certainty and reduced litigation for companies.
Additionally, the Tax Collected at Source (TCS) rate on liquor, scrap, and minerals has been rationalised to 2% to simplify com...