Experts hail salient features in Union Budget

Vijayawada: CII Vijayawada Zone organised a Post-Budget Analysis session here on Thursday. Aditya Modani, Partner, EY and Srinivasa V, Director, EY made a detailed presentation on direct and indirect taxes and the implications of the Union Budget 2026 on industry across all sectors.

Chairperson, CII Vijayawada Zone Dr V Nagalakshmi welcomed the budget.

In her address, she stated the Union Budget 2026–27 is a forward-looking and confidence-building Budget that reflects the Government’s strong commitment to next generation reforms, sustaining high economic growth while maintaining macroeconomic stability. At a time of heightened global uncertainty, the Budget sends a reassuring signal of continuity, credibility, confidence and long-term vision for India’s development journey. Additional Commissioner, CGST B Lakshmi Narayana said, the budget has a clear focus on encouraging compliance while bringing administrative ease to individual taxpayers. There is no change in individual tax rates as such, but steps such as the reduction in TCS rates on specified foreign remittances, extension of the due date to file revised tax returns after payment of a nominal fee, and a simplified TDS deposit mechanism on the sale of immovable property by non-residents are welcome steps. As the new simplified version of the Income-tax Act becomes effective from April 1, 2026, easy-to-follow redesigned forms are expected to be issued soon.