India’s Q1 GDP growth quickens to 7.8% as consumption, capex offset US-Iran war shock :-The Economic Times Aug 31,2026

 

India's gross domestic product (GDP) quickened to 7.8% in the first quarter of FY27, up from revised 6.9% in the same quarter last year, as resilient consumption and exports coupled with robust government capex defied supply chain disruptions and inflated commodity prices triggered by the US-Iran war.

India’s April-June quarter GDP number was slower than the revised 8.6% growth in the previous three months.

Gross value added, a measure of economic activity that excludes taxes and subsidies, grew at 8.2% in real terms, up from 7.1% in the corresponding period last fiscal. Meanwhile, Nominal GVA growth stood at 11.5% for Q1 in real terms.

VALIDITY OF NON JUDICIAL STAMP PAPER IN INDIA

 

Non-judicial stamp papers in India have perpetual validity and do not expire under the Indian Stamp Act, 1899, meaning an old or unused stamp paper can legally be used years after purchase.

Key Rules on Validity

• No Expiry Date: The Supreme Court of India confirmed in Thiruvengadam Pillai v. Navaneethammal that the law prescribes no expiration period for using a purchased stamp paper. 
• The 6-Month Refund Rule: Section 54 of the Act allows you to return unused stamp paper to the Collector within six months for a refund (minus a small fee), but this timeline applies only to refunds, not to the actual use or execution of a document. 
• Adequate Stamp Duty: The value of the stamp paper must match the current state-mandated stamp duty requirements for your specific agreement or transaction. 
• Genuineness Matters: While old stamp papers remain legal, courts may closely examine older documents for authenticity if a dispute arises. 

Haryana State

In Haryana, non-judicial stamp papers follow the standard provisions of the Indian Stamp Act, 1899, meaning they have perpetual validity and do not expire for the purpose of executing a document. 

However, Haryana has shifted heavily toward digital systems and has specific rules you must follow to ensure your transaction is legally valid:

1. Mandatory e-Stamping System

• Digital Transition: The Haryana government has made e-Stamping mandatory for all denominations of non-judicial stamp papers across the entire state. 
• Physical Stamp Limit: Traditional, pre-printed physical stamp papers are phased out for high-value transactions. Registered stamp vendors are only allowed to generate or sell physical stamp papers or Special Adhesive Stamps (SAS) for small denominations up to ₹100. [
• How to Buy: For any values above ₹100, you must buy an e-Stamp online via the state's official e-GRAS Portal or through authorized platforms like eStamper or eDrafter. 

2. Legal Validity Rules in Haryana

• The 6-Month Rule: The 6-month window defined under Section 54 is strictly a refund limitation. If you buy an e-Stamp in Haryana and your deal falls through, you must return it to the Collector of Stamps within 6 months to claim a monetary refund. 
• Delayed Execution Risk: If you hold onto an unused e-Stamp or physical stamp paper for more than 6 months or a year before executing an agreement, Haryana courts and sub-registrars may heavily scrutinize the document to check for backdating or fraud. It is legally safest to execute your document shortly after purchasing the stamp. 
• Old Stamp Paper Policy: The Haryana government permits the use of older physical stamp papers (even those purchased before 2014) provided they are completely valid, blank, un-spoilt, and pass the Revenue Department's official Standard Operating Procedure (SOP) verification. 

Common Stamp Duty Values in Haryana

To ensure your document is legally valid, the stamp paper must be of the correct state-mandated value: 

• Affidavit: ₹10
• General Power of Attorney (GPA): ₹300
• General Agreement / Loan Agreement: ₹100
• Property Sale Deed (Urban): 7% for men, 5% for women

Income tax rules 2026: 19 key changes from April 1 investors and salaried employees must know By Sangeeta Ojha March 28,2026

 From April 1, 2026, India’s six-decade-old Income-tax Act, 1961, will be replaced by the new Income-tax Act, 2025, marking a major reform in the country’s tax system. FREEmat Account within minutes!

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Separately, the Union Budget 2026, presented by Finance Minister Nirmala Sitharaman on February 1, 2025, introduced a different set of measures affecting taxation, including the treatment of share buybacks, dividends, TCS, and capital gains.

In this article, we take a closer look at the key income tax changes coming into effect from April 1, 2026, breaking down what’s new, what has been revised, and how these changes could impact your finances, investments, and tax planning for the year ahead.

19 key income tax changes from April 1, 2026

1) Income Tax Act 2025 replaces the 1961 Act

From April 1, 2026, India’s six-decade-old Income-tax Act, 1961, will be replaced by the new Income-tax Act, 2025. While tax rates and income slabs remain unchanged, the new law modernises how individuals, companies, and investors calculate taxes, report income, and comply with TDS/TCS rules.

2) Tax Year

The new law introduces a single term called “Tax Year,” replacing the older dual system of Financial Year (FY) and Assessment Year (AY). Income earned from April 1 onwards will be reported under the tax year.

3) House Rent Allowance (HRA) changes

HRA benefits are still available, but stricter rules are now in place. Employees must provide their landlord’s PAN and proof of rent payments. In certain cases, it is mandatory to disclose the landlord’s details, including PAN and the rent paid, when claiming HRA

4) HRA metro city expansion

The list of “metro cities” eligible for 50% exemption now includes Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, and Ahmedabad. ( Read more)

5) Meal cards exemption increased

Corporate meal cards costing up to ₹200 per meal are tax-free under the old tax regime. This includes free food and non-alcoholic beverages provided to employees. Previously, the exemption was only ₹50 per meal.

6) Gift and festival vouchers

The tax-free annual exemption for corporate gift cards, vouchers, or coupons has increased from ₹5,000 to ₹15,000 per employee. This applies under both old and new tax regimes.

7) Children’s allowances

Children's education allowance has increased from ₹100 per month per child to ₹3,000 per month, while hostel expenditure allowance has increased from ₹300 per month to ₹9,000 per month under the old tax regime.

8) Company vehicle perquisites

Under the new Income-tax Act, 2025, the taxable value of company-provided vehicles has been revised. For cars with engines up to 1.6 litres, the perquisite value is ₹8,000 per month, while larger vehicles with engines above 1.6 litres will have a perquisite valuation of ₹10,000 per month. If the employer provides a driver along with the vehicle, the taxable value of the driver’s services has also been increased to ₹3,000 per month.

This applies to both personal and professional use of the vehicle and is calculated under the old and new tax regimes. ( Read more)

9) PAN rule changes

Aadhaar-only PAN applications are no longer allowed, and applicants must use category-specific forms, Form 93 for individuals, 94 for companies, 95 for foreign individuals, and 96 for foreign entities.

PAN is also mandatory for high-value transactions such as cash deposits of ₹10 lakh or more per year, vehicle purchases over ₹5 lakh, hotel or event payments over ₹1 lakh, and immovable property purchases over ₹20 lakh. ( Read more)

10) Share buybacks taxed as capital gains

Proceeds from share buybacks will now be taxed as capital gains, replacing the previous “deemed dividend” treatment. Promoter shareholders pay differential buyback tax: 22% for corporate promoters and 30% for non-corporate promoters.

11) Securities Transaction Tax (STT) hike

STT on equity derivatives has increased: futures rise from 0.02% to 0.05% and options from 0.1% to 0.15%. This impacts active traders in futures and options (F&O).

12) Sovereign Gold Bonds (SGBs)

Tax exemption on redemption of SGBs now applies only to bonds purchased at the original issue. Secondary market redemptions will attract capital gains tax.

13) Dividend and mutual fund income

Income from dividends and mutual funds will be computed without allowing any deduction for interest expenditure, irrespective of borrowing.

14) Single declaration for non-deduction

Investors can now submit a single declaration for non-deduction of tax across all mutual fund units, dividends, and bonds.

15) Simplified TDS on property purchase

Buyers purchasing immovable property from NRIs can now deduct TDS using their own PAN, removing the need for a TAN and easing compliance.

16) TCS rationalisation

TCS rates have been rationalised:

• Overseas tour packages reduced from dual 5%,20% rates to a flat 2%.

• LRS remittances for education and medical purposes reduced from 5% to 2%.

• Alcoholic drinks increased from 1% to 2%.

17) Motor accident compensation

Interest from motor accident claims tribunal awards is fully tax-exempt, with no TDS deducted, so you receive the entire amount

18) Extended ITR filing deadlines

For non-audit taxpayers, including businesses and trusts, the ITR deadline is extended to August 31. Salaried individuals continue to file by July 31, while audit deadlines remain October 31.

19) Credit card rules

From April 1, 2026, high-value credit card payments will be reported to the tax department, over ₹10 lakh by non-cash methods or ₹1 lakh in cash. Credit card statements (up to 3 months old) can be used as proof of address for PAN applications. A PAN is now mandatory for all new credit card applications. ( Read more)

The Income Tax Department has clarified that its e-filing portal will support compliance under both the old and new Income Tax Acts. All assessments, appeals, and proceedings for earlier years will continue under the old Act until they are fully resolved. Taxpayers filing returns for AY 2026-27, which falls under the old Act, will use the prescribed forms for the old Act when filing in July 2026