Budget 2026: Big Relief for Senior Citizens, Cancer & Rare Disease Meds Now Duty-Free
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News18•01-02-2026, 12:58
Budget 2026: Big Relief for Senior Citizens, Cancer & Rare Disease Meds Now Duty-Free
- •Budget 2026 prioritizes family financial security and comprehensive national development, aiming to ease tax burdens on middle-class families and protect savings.
- •Customs duty exempted on 17 types of cancer medicines and 7 types of rare disease medicines/food items for personal import, significantly reducing medical costs.
- •Tax system reforms include simplified customs procedures for travelers, revised duty-free allowances, and a uniform customs duty policy on personal imports/gifts.
- •TCS rates adjusted for foreign tour packages (2%) and LRS for education/medical purposes, easing cash flow for students and medical travelers.
- •New facilities like single-window Form 15G/15H filing, automated lower deduction certificates, and extended ITR revision deadlines benefit taxpayers, especially senior citizens.
Why It Matters: Budget 2026 offers significant relief to senior citizens and patients by making critical medicines duty-free.
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