Budget 2026: The Enacted Changes That Affect Your Money

Budget day gives us a speech, a Bill and hundreds of interpretations. By the time you make an investment decision, the important document is the enacted law—and its commencement date.

This revision checks the Finance Act 2026, which received presidential assent on 30 March 2026. It replaces the earlier article's mixture of older Budget spending figures and 2026 proposals.

SGB buyers: how you acquired the bond matters

The revised redemption exemption requires an individual to hold the Sovereign Gold Bond from original issue until maturity. The earlier assumption that any exchange purchase becomes tax-free at maturity is unsafe.

A secondary-market discount now needs to be assessed after applicable tax, remaining maturity, coupon yield on purchase cost and trading liquidity. Interest remains a separate taxable receipt. Do not treat the regulatory ability to redeem early as proof that every redemption qualifies for the exemption.

Overseas payments: distinguish the purpose

The enacted TCS amendment reduces the rate for covered education and medical remittances under LRS from 5% to 2%, on the amount above the applicable ₹10 lakh annual threshold. Covered education-loan exceptions need separate checking.

Investment remittances fall in the other-purpose category, where the 20% rate above the relevant threshold remains important. The overseas-tour-package rate is reduced to 2%; do not apply the LRS threshold mechanically to a package purchase.

TCS is a collection and credit mechanism, not automatically your final tax expense. Reconcile the credit in your records and return. The immediate consequence can still be a cash-flow requirement when remitting.

Derivatives: zero brokerage does not remove STT

The Act increases STT on the sale of options to 0.15% of the premium and on exercised options to 0.15% on the intrinsic value on exercise. Futures sales move to 0.05% on the relevant transaction value.

These bases differ. Do not calculate every options charge on contract notional value or compare a premium-based rate directly with a futures rate without adjusting the base. Check commencement and the exchange's current charge schedule before estimating a trade.

Fees, GST where applicable, spreads and slippage remain additional. A lower brokerage line does not make a strategy profitable.

Tax year and filing year are not interchangeable

Income earned in FY 2025–26 remains within the old Act for its return. The Income-tax Act 2025 governs income from 1 April 2026. The transition changes legal references and forms; it does not mean a return filed after April automatically belongs to the new Act.

The familiar new-regime rebate discussion also concerns qualifying resident individuals and normal slab-rate income. Special-rate gains need their own calculation. 'Income up to ₹12 lakh is always tax-free' is too broad.

What to do with the headlines

Before changing a plan, write down the affected transaction, enacted provision and effective date. If a proposal has not been implemented, label it as a proposal. If a rule changes only one tax category, do not extend it to every investment.

Your household decision needs the rule that actually applies to it, not every number mentioned in a Budget speech.