Daily Newsletter - February 2, 2026 - Budget Special

Latest additions to CAalley:

News Update:

Indian News

Budget 2026 News

International News

Exposure Draft:

AICPA

Acts & Regulations:

SEBI Regulation

Legal Updates:

Customs Budget Notifications

Central Excise Budget Notifications 

News Update:

Indian News:

Future of CA profession hinges on ethics, judgment, not just technical skills: Sebi chief

Sold land & invested in wife’s name; no tax relief

Higher penalty on bigger cos for eco damage: SC

IBBI chief bats for lesser compliance requirements without reducing regulatory effectiveness

Budget 2026 News:

Budget 2026: I-T dept eyes disposal of over 200K CIT(A) appeals this year

Budget 2026: Buy back proceeds will be taxed as capital gains for shareholders, but promoters pay an extra price

Relief for third parties caught in search cases, budget also tweaks timelines for block assessments

Stricter compliance, CBDT circulars binding on taxpayers responsible for TDS/TCS

10 ways individual taxpayers will be impacted most from Budget 2026

NRI professionals visiting India to get 5-year tax exemption on overseas income: Budget 2026

Budget 2026 has introduced certain retrospective amendments to nullify the impact of certain favourable rulings for taxpayers; Know more

Budget 2026: India offers 20-year tax holiday to foreign cloud firms to boost data centre investments

50% cut in customs duty on personal goods announced in Budget 2026: Check how much you will likely save

Govt raises duty-free baggage limit to Rs 75,000, new rules replace decade-old framework

Budget 2026: New tax deduction on inter-cooperative dividend income under new tax regime announced by Nirmala Sitharaman

Any mistake in the Income tax order will not nullify provided it contains DIN, says Budget 2026

Banking for 2047: Sitharaman proposes high-level committee to review sector under Viksit Bharat

Budget 2026: Safe harbour threshold for IT firms raised to Rs 2,000 crore, at a 15.5% margin

Budget makes tax compliance easier, gives relief in penalties and timelines

Budget 2026 changes SGB tax rules, ends blanket capital gains exemption

Budget tax change weighs on dividend, MF investments made on borrowed money

Budget 2026: PF rule clean-up simplifies tax treatment, keeps limits intact

Budget proposes to set up dedicated REITs to recycle CPSE realty assets

Budget 2026: Accident victims to get full claim amt without tax deductions

Budget 2026 offers six-month window to disclose overseas income and assets

Budget 2026 brings tax relief, investment flexibility for overseas Indians

Budget 2026 'tactical', not a 'breakthrough', says Moody's Ratings

What are the three kartavyas guiding FM Sitharaman's Budget 2026 vision?

Relaxation in conditions for prosecution under the Black Money Act for these taxpayers: Budget 2026 announcement

Short courses, faster jobs: ICAI, ICSI to design skill programmes in Budget 2026 employability push

14 personal finance highlights impacting middle-class taxpayers in FY26-27 from Budget 2026

Income tax slab, new ITR forms, filing due dates, stock buyback taxation; penalty on crypto-related income tax reporting and more

Budget 2026: 10 key announcements for India Inc

Budget 2026 Highlights: STT shock, high-speed rail and big tourism push. Check all important announcements here

Budget 2026 income tax: Top announcements made by FM Sitharaman - check list

Union Budget 2026 key features: Reforms, manufacturing & fiscal discipline take centre stage

Budget 2026: Budget Highlights (Key Features of Budget)

Budget 2026 Documents

International News:

Tax revolution in the UAE: E-invoicing will change how you get paid, no more manual VAT fixes

Exposure Draft:

AICPA:

Proposed revisions related to alternative practice structures
[Last date for Comments: April 30, 2026] 

Acts & Regulations:

SEBI Regulation:

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
[Last amended on January 22, 2026]

Legal Updates:

Customs Budget Notifications:

Seeks to rescind Notification No. 11/2004-Customs dated 08.01.2004 and Notification No. 27/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026 [Notification No.5]

Seeks to amend Notification No. 26/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026 [Notification No.4]

Seeks to further amend notification No. 11/2018-Customs, dated the 2nd February, 2018 and notification No.11/2021-Customs, dated the 1st February, 2021 to revise Social Welfare Surcharge (SWS) and Agricultural Infrastructure Development Cess (AIDC) applicable on certain items [Notification No.3]

Seeks to further amend notification No. 45/2025-Customs dated the 24th October, 2025 to notify Basic Customs Duty related changes [Notification No.2]

Seeks to amend five notifications, in order to extend their validity for a further period of two years till 31st March 2028 and make amendments in notification No. 25/2002-Customs, dated the 1st March, 2002 and notification No. 36/2024-Customs, dated the 23rd July, 2024 [Notification No.1]

Seeks to notify the Customs Baggage (Declaration & Processing) Regulations, 2026 [Notification No.15(NT)]

Seeks to notify the Baggage Rules, 2026. [Notification No.14(NT)]

Seeks to amend the Deferred Payment of Import Duty Regulations, 2016 to extend duty deferral facilities for trusted entities from 15 to 30 days [Notification No.13(NT)]

Seeks to add a new class of eligible importers as ‘Eligible Manufacturer Importers’ under Section 47 of the Customs Act, 1962 for duty deferral facility [Notification No.12(NT)]

Central Excise Budget Notifications:

Seeks to rescind notification No. 5/2023-Central Excise dated 1.2.2023 [Notification No.3]

Seeks to (i) exempt value of Biogas/ Compressed Biogas contained in blended CNG along with appropriate GST paid on it, from the value of such blended CNG for the purpose of calculation of Central Excise duty on such blended CNG and (ii) to defer implementation of levy of additional duty of Rs 2 per litre on unblended diesel till 31st March 2028 [Notification No.2]

Seeks to prescribe effective rates of NCCD on chewing tobacco, jarda scented tobacco and other tobacco products [Notification No.1]