Budget 2026: Major customs overhaul likely as government plans easier TDS and tax relief

Budget 2026: Major customs overhaul likely as government plans easier TDS and tax relief Budget 2026 is expected to introduce major reforms including a GST-like overhaul of Customs Duty, simplified TDS rules and potential increases in standard deduction. Government likely to simplify TDS structureThere is a strong possibility that the government will reduce and simplify the large number of TDS categories and rate slabs. The Budget is also likely to propose lower customs rates and easier procedures as part of trade facilitation reforms. A dispute resolution scheme may also be introduced to settle nearly Rs 1.53 lakh crore stuck in various litigations. ALSO READ: Budget 2026 could redefine home buying: Affordable housing price cap may rise to Rs 90 lakh